Subject This article inquires into the assessment of the intensity of changes in the financial market participants' activity under the influence of new technologies. Objectives The article aims to define a range of indicators that can be considered instruments to analyze the level of digital technology penetration into the banking sector. Methods For the study, I used methods of classification and comparison, and an analysis of statistics. Results The article offers a system of coefficients that can form the basis of the ranking of national financial markets by level of digitization. A comparative analysis of the Russian and foreign financial markets helps identify factors hindering the digitization of the banking sector in Russia. Conclusions The article concludes that the major factors of digital transformation of the financial markets are the infrastructure development level, investment, and the macroeconomic environment. The Russian financial market is the most lagging behind the foreign ones according to these particular criteria. The article concludes that there is not yet an index that could determine the country's position in the global process of financial market digitization, like the Digital Economy and Society Index (DESI), although the transition rate to new technologies in the financial sector is higher than the one in the real sector of economy.
Keywords: digital economy, financial market, banking sector, Internet banking
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