THE IMPACT OF DIGITAL FINANCIAL INSTRUMENTS ON ACCESS TO CREDIT

Abstract

The expansion of digital infrastructure in the financial sector is transforming traditional lending mechanisms, creating new channels for access to borrowed capital and reshaping the interaction between borrowers and lenders. The article analyzes the impact of digital financial instruments on credit accessibility parameters, including reduced transaction costs, accelerated creditworthiness assessments, and individualized financing conditions. It describes key technological solutions shaping new lending models: digital scoring, credit marketplaces, automated lending platforms, open banking systems, and distributed ledger technologies. The study also explores institutional and infrastructure limitations of digitalization and identifies risks associated with algorithmic borrower assessments. Special attention is given to the specifics of digital lending in the SME and household segments in Russia.