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  New Opportunities for Development of the Fintech Sector through the Sandbox Regulatory Regime

  The changes that are becoming more and more rapid and irreversible in the financial world inevitably lead to the need to introduce tools for their monitoring and regulation. This need for legislation requires the emergence of new technologies, including and the new sandbox-type control modes. The RegTech Sandbox itself is one of the sophisticated ... The changes that are becoming more and more rapid and irreversible in the financial world inevitably lead to the need to introduce tools for their monitoring and regulation. This need for legislation requires the emergence of new technologies, including and the new sandbox-type control modes. The RegTech Sandbox itself is one of the sophisticated RegTech regulatory technology tools. The Sandbox is a "safe place" where businesses can test their innovative products and services, business models and delivery mechanisms so that consumers are protected. New financial products and technologies can be checked to see if they meet certain rules, regulatory and safety requirements. The most significant contribution from the use of sandbox is the help they provide to new companies to orient themselves in compliance with the complex legal and regulatory norms governing the financial industry.

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  Problems in the Structuring and Building the Administrative Capacity of the Internal Audit in the Public Sector in Bulgaria

  Within the framework of the present study, the attention is focused on the financial management and control of public funds and activities, and, in particular, on the problems in the structuring and building the administrative capacity of the internal audit in the public sector organizations in Bulgaria. Based on relevant information presented in ... Within the framework of the present study, the attention is focused on the financial management and control of public funds and activities, and, in particular, on the problems in the structuring and building the administrative capacity of the internal audit in the public sector organizations in Bulgaria. Based on relevant information presented in the Consolidated Annual Reports on Internal Control in the Public Sector in the Republic of Bulgaria of the Ministry of Finance, existing problems in this aspect of the contemporary internal audit and opportunities for overcoming them are examined.

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  The Changes in the Banking Industry under the Influence of the Digitalization Process in the Conditions of Covid-19 Pandemic

  The market capitalization on the world banking market reached USD 7.2 trillion, and on the digital banking market - more than USD 800 trillion. The average annual growth of 4% has long been a stable source of income for banks. The development of digital consumer lending and payment systems is also attracting non-banking players, who are expanding ... The market capitalization on the world banking market reached USD 7.2 trillion, and on the digital banking market - more than USD 800 trillion. The average annual growth of 4% has long been a stable source of income for banks. The development of digital consumer lending and payment systems is also attracting non-banking players, who are expanding their influence in institutional business, which makes the corporate banking market dynamic. The profound change brought about by the open and interconnected corporate banking ecosystem is taking place in conditions of extreme change, zero interest rates and a surplus of money supply. Although some areas of the financial markets are less exposed to these significant shocks, it is impossible to protect them from development in an open ecosystem. These changes may even be slower or less pronounced in some services, such as structured lending, large corporate payments, but technological developments are also taking place. Working with 'full vaults', emerging FinTech competitors, the COVID-19 pandemic and the slower-than-expected recovery of global supply chains are all challenges that banks need to address and are the subject of this study.