Abstract:

The global phenomenon of the financial fields digitalization along with the generalised and unsystematised access to information via the Internet are making a revolutionary progress in the organisation of economic sectors, of which, certainly, the financial industry makes no exception. The extreme plasticity, as well as the globalisation of financial services, together with the successive technological revolutions, bring opportunities and also challenges for the continuous adaptation of the financial policies of private companies or national public institutions.

The presence of the emerging technologies and virtual financial products offers consumers greater freedom, higher independence from the legislative regulations of economic markets, while also trying to address the issue of data security and confidentiality and increased confidence in those products. In recent times, emerging financial technologies called Fintech have continued to reshape the financial services sector in an unprecedented way. New start-up companies manage to provide innovative technologies in the financial market, challenging the sustainability of classic business models in the field and causing disruptive effects on existing financial institutions and business methods.