MODERNIZATION OF SOCIAL SERVICES BASED ON SOCIAL INNOVATION, DIGITAL TECHNOLOGIES AND FINTECH

Abstract

The article scientifically substantiates the components of a conceptual model for the development and implementation of directions for updating social services based on the use of modern digital technologies and Fintech. The prerequisites for updating social services, the advantages and disadvantages of using digital and financial technologies in the field of socio-economic development are revealed. A typology of Fintech was carried out and the capabilities of each type were determined. In order to increase the effectiveness of social protection, a classification of social innovations within digital technologies is presented: re-innovation of existing digital technologies through their marketing promotion to new consumer segments (consultant work, analysis of data sets / Big Data, creation of electronic catalogs); improving existing services through digital technologies and the ability to save resources and reach a larger number of consumers (creation of pages on social networks, provision of online services and consulting, access to reference digital information); symbiosis and synergy of combining traditional services with digital technologies (attracting investments and credit resources for social protection projects through crowdfunding and p2p lending, payments through digital platforms, searching for charity resources through marketplaces); use of innovative brands to provide social services (artificial intelligence, automated solutions for investing in social protection projects, selection of an inclusive set of services). It is recommended to use innovative financial technologies in digital format, such as personal finance management and electronic payment transactions using software products and mobile phone applications; p2p lending without involving financial institutions using special online platforms for borrowing money; analysis of large data sets (Big Data); InsureTech - automation of insurance services; neobanks that transfer banking services to the virtual space; robot consultants, artificial intelligence; RegTech - electronic verification of changes in legislation and adaptation of business to them; blockchain, which contains distributed registers of data about all consecutive transactions of system participants.