Development of financial intermediation in a sustainable economy

Ural State University of Economics, 8 Marta Str., 62, 620144 Ekaterinburg, Russia

Abstract

The article examines the theoretical and practical aspects of the development of financial intermediation in the context of sustainable economic development. Sustainable economic development has an impact on the life of the population and enterprises and leads to changes in their needs. Meeting the needs of the entire society is possible through the sustainable development of the financial market as a whole and its individual segments, including new areas of financial intermediation. Banks are considered one of the first financial intermediaries, but the steady development of the economy, accompanied by digitalization, leads to the emergence of new, alternative directions. One of them is crowdfunding. For credit institutions, crowdfunding is an opportunity to diversify their business, reduce lending risks, and expand their customer base. The article presents the dynamics of crowdfunding development in the Russian Federation and presents a comparative analysis of the main financial indicators of the largest Russian banks and crowdfunding platforms.The conclusion is made about the role of banks and alternative financing methods in a sustainable economy and their positive impact on the development of the real sector of the economy.