Security of Digital Transformation of the Financial Market
Yuri M. Avdeev1, Liliya Z. Gumerova2, Inna M. Vankovich3, Olga V. Dymchenko4, Vitaly M. Smolentsev5, Lyudmila I. Petrova6

1Yuri M. Avdeev, Vologda state University, Vologda, Russian Federation Liliya Z. Gumerova, Kazan (Volga region) Federal University, Russian Federation.
2Inna M. Vankovich, Financial University under the Government of the Russian Federation, Moscow, Russian Federation.
3Olga V. Dymchenko, Don State Technical University, Rostov-on-Don, Russian Federation.
4Vitaly M. Smolentsev, Kuban State Agrarian University named after I.T. Trubilin, Krasnodar, Russian Federation.
5Lyudmila I. Petrova, Altai State University, Barnaul, Barnaul, Russian Federation.

Manuscript received on November 16, 2019. | Revised Manuscript received on 24 November, 2019. | Manuscript published on December 10, 2019. | PP: 3572-3577 | Volume-9 Issue-2, December 2019. | Retrieval Number: B7908129219/2019©BEIESP | DOI: 10.35940/ijitee.B7908.129219
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Abstract: Successful digital transformation requires paying increased attention to security. Some of the world’s largest companies have been victims of cyberattacks. Internet Protocol addresses, personal information and finance are constantly at risk. In the digital world content, corporate networks of the past no longer exist. Security must be built directly into all applications. However, many companies delay the strengthening of their security systems until it is too late. According to Gartner, until 2020, 99% of vulnerabilities in operating systems have been known to IT security specialists for at least a year. This means that companies must first eliminate the existing vulnerabilities that they know. According to some estimates, almost 85% of the participants in the financial market call digital transformation the main priority for the next 3–4 years, because they see in it not only cost reduction, but also the possibility of creating new business models, new communication with the client, and, in fact, new sources of income. Recently, the financial system of Russia has been catching up with the West in terms of digitalisation and now it is developing faster than Western markets. All this suggests the need for closer attention to ensuring the security of transformation processes taking place in the financial market. 
Keywords: Security, Financial market, Transformation, Digital Economy, Digitalisation of the Financial Sector, Digital Transformation, financial Market Security Technologies.
Scope of the Article: Aggregation, Integration, and Transformation