FEATURES OF REGULATORY AND LEGAL REGULATION OF FINTECH AT DIGITALIZED MARKETS OF BANKING AND INSURANCE SERVICES IN UKRAINE

Important factors of the reboot and intensive economic development of Ukraine are the further development and activation of digitalization processes and the spread of FINTECH in the markets of banking and insurance services. Any modern reform measures in Ukraine require the formation of an effective legal framework for the regulation of banking and insurance markets. Questions regarding the further regulation and development of the field of financial technologies as the newest problem of the development of banking and insurance services markets in general remain an unresolved task of active political and academic discussion, as well as legislative rulemaking.The purpose of the article is the formation of modern regulatory and legal regulation of the mar-kets of banking and insurance services as key tools for their further development in the conditions of digitalization of economic processes in Ukraine.The lack of legal regulation of the FINTECH sphere and the implementation of its tools in the absence of legal regulation causes a violation of the social and economic rights of citizens due to an increase in the financial risks of FINTECH in the financial services market, the threat of access to confidential information, as well as the development of financial fraud due to the emergence of the latest tools for accessing the database, attracting customers to financial pyramids. In addition, the lack of regulatory and legal regulation of FINTECH creates an incomparably different level (and sometimes its absence) of responsibility and conditions of FINTECH participants and the traditional sector of finan-cial services.Considering the significant actualization of the issue of legal regulation of FINTECH in the fi-nancial services market and the use of its tools, in accordance with the functional purpose, there is a need to introduce regulatory norms based on the creation of a conceptual and categorical apparatus of the FINTECH field and providing legal definitions to its components.