Introduction. The article is devoted to clarifying the essence of systemic problems that arise in various areas and lead to global imbalances and global financial crises. As the economies of different countries develop at “different speeds”, economic imbalances, “financial gaps”, infrastructure and technological failures are becoming commonplace. The article focuses on the development of the latest financial technologies that are very flexible and adaptable to challenges and changes.
The purpose is to find out the nature and role of FinTech in overcoming systemic gaps and imbalances in the period of “contactless economy”; scientific substantiate the influence of the newest financial instruments on the change of the world financial order.
Methods. Methods of dialectical, structural analysis and synthesis, as well as logical generalization, comparison and formalization, the method of scientific abstraction are used.
Results. The systemic determinants of global financial instability are revealed. Emphasis is placed on new systemic risks and global challenges provoking global financial crises in the era of digital economy and digital financing. Methods of combating Covid-19 and systemic measures of individual governments in a pandemic are analyzed. The political, cultural and institutional differences of the world leaders are argued from centralized planning in China, which allows to act more decisively and more efficiently, to the liberalism of freedoms and democracy in the United States, which does not accept strict restrictions on freedoms. The objective preconditions and potential opportunities for reforming the world monetary system and global financial architecture in the era of transformation of the world financial order are argued and its main element – FinTech is emphasized. The necessity of forming a new neo-financial world order, which will be based on completely new principles and principles, has been proved.
Perspectives. In further research it is planned to pay reasonable attention to the latest financial instruments on the change of the world financial order, to reveal the essence and role of FinTech in overcoming systemic gaps and imbalances in the period of “contactless economy”.