Platform services: advantages, risks and prospects for development

Introduction. Platform services have become convenient platforms for interaction between providers and consumers of financial services. The most common types of them are financial and investment platforms (crowdlending and crowdinvesting ones). The number of transactions through financial platforms increased significantly in 2023. This was facilitated by an increase in demand for investment and deposit products in the context of rising interest rates.

The purpose of the article is to assess the advantages, risks and development prospects of digital platforms on the basis of a comparative analysis of their functioning.

Methods. The study employs abstract logical methods, systematization and analysis, statistical and analytical methods, analogy and generalization. The organizational issues of the digital platform activity are presented in a systemic way, the dynamics of indicators characterizing the pace of their development are presented, the problems of platform services development are revealed, and the ways of their solution are determined.

Results. For financial organizations, the advantages of using digital platforms lie in the possibility to expand the geography of their presence in the market without opening additional structural units, as well as in the formation of alternative sales channels and the expansion of the clients’ audience. For consumers, acquiring financial services through a platform makes it possible to increase their reliability and quickly conduct a comparative analysis of the conditions offered by different providers. At the same time, the use of digital platforms carries the following risks: lack of obligations to keep funds safe, difficulty in identifying the borrower and the lender. The presence of artificial intelligence shows the risks of technical imperfection and operational risks.

Conclusion. The use of digital platforms in the Russian market contributes to the improvement of the quality of customer service. Their development will ensure increased competition in the financial market, as well as reducing the negative impact of market threats on the activities of financial institutions. The integration of digital ecosystems and financial marketplaces will provide an opportunity to expand the range of services, improve the quality of service and increase consumer confidence in financial services.