Abstract:

Questions about objective necessity of financial mediators for commercial banks began to be actively discussed in the middle of the 20th century. In recent years discussions about the role and functions of banks and about their possible disappearance become active. The main factor determining changes in financial system in recent years has been the development of information and financial technologies, which include payment services, online lending, crowd funding, online banks, data aggregators, as well as technologies for developing banking infrastructure, financial security, personal finance management, tools for small businesses, etc. It turned out that not only banks, but also non-financial organizations can provide these services, for example, social networks, mobile network operators.