Digitalization of financial services as a catalyst for innovation in traditional industries

UDC 336.004
DOI: 10.36871/u.i.k.2025.05.01.015

Authors

Egor N. Melbard,
Alexander T. Peskov,
Artem D. Ishkulov,
Andrey V. Basharov,
Bauman Moscow State Technical University (National Research University), Moscow, Russia

Abstract

The article analyzes the impact of financial services digitalization on traditional industries. Innovative tools, including artificial intelligence, algorithmic lending, and digital payment platforms, are examined. Their role in business process transformation, operational efficiency improvement, and the development of new economic models is determined. The influence of digital financial solutions on insurance, healthcare, industry, energy, logistics, and transportation is investigated. The advantages and limitations of digital technology adoption in these industries are identified.
The system analysis methods used in the study allow for identifying the interconnections between digital finance and industry-specific innovations. A comparative analysis of case studies on the implementation of digital financial instruments demonstrates that financial services digitalization serves as a catalyst for innovation in the economy. It reduces transaction costs, increases deal transparency, and accelerates the technological development of traditional industries.

Keywords

digitalization, financial services, artificial intelligence, algorithmic lending, payment platforms, industry-specific innovations, economic efficiency