FINANCIAL TECHNOLOGIES (FINTECH): IMPACT, OPPORTUNITIES AND RISKS FOR THE FINANCIAL MARKET OF UZBEKISTAN

Erkinov Ilkhomjon

FINANCIAL TECHNOLOGIES (FINTECH): IMPACT, OPPORTUNITIES AND RISKS FOR THE FINANCIAL MARKET OF UZBEKISTAN

Erkinov Ilkhomjon

Master’s student, Banking and Finance Academy of the Republic of Uzbekistan

##semicolon## Financial Technology (FinTech), Digital Payments, Digital Banking, Digital Lending, Investment FinTech, InsurTech, RegTech, Financial Inclusion, Digital Economy, Financial Market

सार

This article provides a theoretical and practical analysis of the concept of financial technologies (FinTech), as well as their role and development prospects in the financial market of the Republic of Uzbekistan. The study examines the key areas of FinTech, including digital payment systems, digital banking services, online lending, investment technologies, insurance technologies (InsurTech), and regulatory technologies (RegTech). The paper analyzes the impact of FinTech on the financial market, identifying its opportunities and potential risks. Based on international experience, particularly the cases of Singapore, the United Kingdom, and China, the study demonstrates that the successful development of FinTech largely depends on the effectiveness of the regulatory framework, government policies, and the level of digital literacy. The findings indicate that FinTech contributes significantly to the modernization of Uzbekistan’s financial market, enhances the efficiency of financial services, and supports the formation of a digital economy. The article concludes with scientific and practical recommendations aimed at improving the legal framework, strengthening cybersecurity, increasing financial and digital literacy, and supporting startups and innovative projects in the FinTech sector.

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