The Quality of the Digital Ecosystem in the Financial Sector

ABSTRACT

The purpose of the study of the digital transformation of the economy and its financial sector is not so much a quantitative as a qualitative assessment. The digital economy shows the emergence of the phenomenon of platform and ecosystem quality and is defined in different sectors of the economy. The sector of services to business is growing in innovation-driven and efficiency-driven economies. It has appeared and is growing in the Russian Federation. Within the framework of the platform economy and the ecosystem economy, these changes allow defining a new quality of financial and non-financial services. The range of services of banking ecosystems, financial and non-financial companies within these systems is changing. In the financial sector the ecosystems of companies and banks are expanding not only the opportunities for distance selling, but also the opportunities for green financing of economic growth. Therefore, the analysis of the financial traps of sustainable development and ESG (environmental, social, government) growth is of particular interest. From the viewpoint of systemic quality, the approach to green financing of economic growth is changing. Two new factors—digitalization and coronavirus pandemic determine the opportunities and boundaries of economic development today. Both are frame factors, introduced or non-economic ones that allows to use the institutional analysis tools. The world experience of stimulating, motivating and transferring institutions includes financial (credit rates, subsidizing bond loans, etc.) and non-financial (funds, ratings, etc.) tools to achieve a new quality of growth. The transformation of financial markets involves the redistribution of financial flows in favor of companies with an ESG policy. The main conclusion: the transformation of financial markets involves the redistribution of financial flows in favor of companies with ESG policies and is an indicator of qualitative changes. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.