Agent-Based Modeling Financial Services in Social Networks

Abstract

A promising direction for the transformation of social networks is the connection of commercial and financial communications to them. This solves a whole range of problems: monetizing social networks, retaining users in networks, and increasing network traffic; receipt of financial and commercial services by network users in the process of network communications; and expanding the client base of financial institutions. At the intersection of financial services and social media, a new phenomenon has emerged – access to financial services on online social media (FS OSN). The novelty and the first steps in the formation of financial inclusions require conceptual justification and determination of approaches to their study. It is equally important to analyze the effectiveness of incorporating FS OSN into the general system of knowledge, business processes and social communications. This analysis is carried out from an institutional point of view and agent-based modeling. The article proposes methods and models that allow analyzing the socio-economic behavior of consumers of financial services in social networks from the moment they start applying for financial services (e.g., clicking on ads) to making decisions, as well as providing financial services. both through social media channels and bypassing them but using them at different stages of subsequent maintenance. The agent-based approach to the design of financial inclusions in social networks allows us to identify the conditions for the stability of the system and the conditions for transition to other states, as well as to establish the relationship between the evolution of financial intermediation and the social network and the innovative mission of digital financial technologies and social networks. Specific nodes, links and their strengths and weaknesses are the main structures of analysis important for determining the behavior of financial intermediaries, social networks, and their participants, as well as building a model of interaction between nodes. These interactions are considered as a set of social and business contacts in the network.