Наукові статті

The impact of innovation and fintech on the banking business

Худолій, Ю.С.

The study analyzes the impact of fintech innovations on the effectiveness of the functioning of the banking business and outlines the prospects for their further implementation in Ukraine, taking into account the EU experience. The results of the study proved the existence of potential opportunities for expanding the innovative activity of the banking system of Ukraine. In recent years, there has been an intensification of the processes of digitalization of banking services. On the basis of a comparative analysis of the neobanks of Ukraine, their main advantages are outlined and prospective areas of activity expansion are substantiated. At the same time, problematic aspects in the implementation of digital technologies in the banking sector of Ukraine are identified, in particular, imperfect legislation in the field of digital technologies in neobanking and licensing of their activities, low level of financial literacy of the population, expensive initial investments. This requires further research into the possibilities of implementing the positive experience of the EU countries.

English (United States)

2023-09

digitization

ScienceRise

Khudolii Y. The impact of innovation and fintech on the banking business / Y. Khudolii, A. Hlushko // ScienceRise. – 2023. – Vol. 3. – P. 41–50. – DOI: https://doi.org/10.21303/2313-8416.2023.003218