THEORETICAL FOUNDATIONS OF CREDIT RISK REGULATION IN THE NON-BANK FINTECH SECTOR

Over the past two decades, the global financial market has undergone a large-scale digital transformation driven by the rapid development of information and communication technologies, artificial intelligence (AI), big data analytics, and cloud computing. One of the most significant outcomes of this transformation has been the emergence of the non-bank FinTech sector, which encompasses a wide range of organizations providing financial services without the status of traditional commercial banks. These organizations include digital lending platforms, peer-to-peer (P2P) lending companies, Buy Now Pay Later (BNPL) service providers, microfinance institutions, electronic payment systems, digital wallets, Embedded Finance platforms, and various technology companies offering lending services through advanced digital solutions.