Approaches to justification of behavioral profiles of Russians based on assessing the level of financial literacy and use of digital fintech

Abstract

The prolonged pandemic, which began to decline in early 2022, and the geopolitical situation that escalated at the same time, which led to unprecedented sanctions until then, had a significant impact on all spheres of life of Russians, primarily financial one. Forced restrictions due to the pandemic have led to an increase in the activity of remote use of digital financial services. The reduction of epidemiological danger and the gradual normalization of the situation were interrupted by restrictions on operations in the financial market, which, however, did not lead to a significant outflow of remote users of digital platforms to the offline format. The convenience and security of digital fintech as a system of tools for transactions and financial resource management have become apparent even to initially skeptical users. This means that following the expansion of the range of digital financial assets, products and services, it is possible to confidently predict the risks of irrational behavior of the population. Another consequence of this process will be the growing interest of scammers, who are traditionally well-versed in the current agenda and invent effective schemes of deception.
The information base of the study was made up of field surveys conducted by the authors as part of a research group under a grant from the Ministry of Finance of the Sverdlovsk Region to assess the level of financial literacy of the population, and the results of the authors' research on open data 2019–2023.