№ 2020/1

The article presents the results of a study on modern transformations of financial intermediation institutions and shows the processes of reformatting the classic purpose of banks as intermediaries between the deficit and surplus of financial assets of market entities. The author shows global financial and structural development, global trends of disintermediation and revival of operating activities of the stock sector, and characterizes the features of regional development, the most important of which are: financial and credit dysfunction in European continental countries in the context of growing stock activities in the global financial centers; long-term reduction of the influence of banking institutions on the development of the real sector in classical countries (mainly bank investment financing); prece-dents of the predominance of the stock segment in countries of historical banking dominance; and accelerated growth in stock activities in developing countries as a possible factor in financial and economic instability due to the significant pres-ence of foreign investors. Characterized the tendencies of European (continental) credit apathy and deactivation of banks as depository institutions in conditions of simplified customer demand, limited by consumer motivations against the back-ground of a reduced influence of accumulative motivations. The paper shows that the basic factor of the development of digital retail banking is the increased com-petition between banking institutions, Fin-tech companies and global trading plat-forms, which, satisfying consumer needs, are increasing their competitive ad-vantages over traditional banks. The author characterizes the global consumer-financial space and shows the mechanisms and factors of its formation, associated with the intensification of the development of digital banking and the activities of modern global trading platforms in the context of the transformation of the financial culture and financial behavior of households towards increasing consum-er motivations. Also characterized the risks of monopolization of the global consumer-financial space and the development trend of financial intermediaries un-der the influence of these processes are characterized.

Keywords:financial intermediaries, digitalization, consumer-financial space, the risk of mo-nopolization