Ecosystem of financial markets in the context of digital communications: the FinTech model and prospects for sustainable development in Russia

This study aims to develop a regulatory approach to coordinating FinTech activities in Russia that will ensure sustainable development of domestic financial markets in the context of digital communications. This goal was achieved through an empirical study based on the progressive experience of the top 15 countries with advanced FinTech ecosystems of financial markets in 2025. As a result, the assessment of these ecosystems in Russia indicated their high level of development in the context of electronic communications in 2025. It was found that Russia is only slightly inferior to global financial innovators in terms of the sustainability of financial market ecosystems in the context of digital communications, and is also on par with world leaders in terms of the active use of breakthrough regulatory FinTech levers.

To further improve the sustainability of the ecosystem of Russian financial markets in the context of digital communications, a regulatory approach to coordinating FinTech activities in these domestic markets is proposed. The author's approach included, firstly, an econometric model of sustainable development of the FinTech ecosystem of financial markets in the context of digital communications. The model demonstrated a universal regulatory FinTech lever that simultaneously improves all parameters of the sustainability of the financial market ecosystem in the context of digital communications – this lever is financial logistics. Secondly, a forecast for the sustainable development of the FinTech ecosystem of Russian financial markets in the context of electronic communications until 2030, supported by scientific and practical recommendations for ensuring the sustainable development of the FinTech ecosystem of Russian financial markets in the context of electronic communications through improving government regulation of these markets. The advantage of the new approach is that its implementation will ensure the smooth functioning of Russian financial markets, that is, increase their reliability, and also strengthen their resistance to sanctions.

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