Uman National University | today: 06/20/2025
| Author(s) |
Ulyanych Y.V., Candidate of Economics, , Uman National University of Horticulture, Ukraine Ulyanych K.F., Candidate of Economics, , Uman National University of Horticulture, Ukraine Huzar B.S., Candidate of Economics Sciences, , Макарчук В. В., , , Макарчук В. В., , , |
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| Category | Economics | ||
| year | 2025 | issue | Випуск 106 Частина 2 |
| pages | 149-156 | index UDK | 3.330.1 | DOI | 10.32782/2415-8240-2025-106-2-149-156 (Link) |
| Abstract | The article discusses the development of the global financial system based on the use of digital technologies. Digital technologies are a key element of digital transformation, which uses them to improve financial, investment and risk management processes, interaction with clients and establish feedback with consumers and increase the efficiency of activities. These technologies cover a wide range of tools, including computers, smartphones, tablets, cloud technologies, artificial intelligence, machine learning, augmented and virtual reality and many others. It has been established that the current stage of digital transformation of the financial sector is characterized by a rapid increase in the use of digital technologies and the provision of financial services in digital format, which increases the need for the development and use of new supervisory and regulatory mechanisms and technologies. The use of digital technologies allows financial institutions to analyze large amounts of data and obtain valuable information about the main trends, events and processes in the financial and other spheres, which helps owners and managers of financial institutions make better decisions regarding investment, lending and other financial transactions. Given the undeniable advantages of these technologies, it is advisable for financial institutions to provide for their implementation and use when developing and implementing tactical and strategic development plans. The introduction of digital innovative technologies into the activities of financial institutions can be an important factor in increasing their efficiency and competitiveness, ensuring wider accessibility and reducing the cost of financial services. However, it is necessary to take into account the risks and take the necessary measures to ensure economic security and data confidentiality. Digital financial services are significantly different from traditional financial services. Based on modern digital technologies, they are significantly different in their transformative significance and role in shaping new approaches to financial interaction between people, businesses and the state. Digital financial services represent a combination of key characteristics of digital, financial and traditional services, products and services provided by fintech companies as a result of the synergy of business models of the digital economy, network and information and communication technologies and the corresponding development of socio-economic relations within the globalized world and the processes of forming an information society. | ||
| Key words | financial sector, financial product, digitalization, financial service, economic efficiency, risk, innovation | ||