Uman National University | today: 05/23/2026
| Author(s) |
Ulyanych Y.V., Candidate of Economics, , Uman National University of Horticulture, Ukraine Дяченко М. О., , , |
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|---|---|---|---|
| Category | Economics | ||
| year | 2026 | issue | Issue 108 part 2 |
| pages | 317-325 | index UDK | 336:004(477) | DOI | 10.32782/2415-8240-2026-108-2-317-325 (Link) |
| Abstract | This article examines current trends in the development of financial technologies and their impact on the transformation of Ukraine’s banking sector amid the digitalization of the economy and intensifying global competition. It reveals the essence of fintech as a key driver of innovative changes in the financial sector and analyzes the characteristics of fintech companies, particularly foreign ones, that are actively integrating into the domestic market. It is determined that their activities contribute to increasing the level of financial inclusion, expanding access to financial services for the population and businesses, as well as establishing new standards for service quality and speed. The paper analyzes the main directions of innovation implementation in banking, among which the development of digital banking, the improvement of payment technologies, the creation of comprehensive digital products for small and medium-sized businesses, and the transformation of traditional lending and deposit operations based on modern information solutions occupy a special place. Significant attention is paid to the impact of artificial intelligence, machine learning, and big data analysis on improving the efficiency of financial institutions, optimizing risk management, and personalizing financial services. The practical aspect of integrating innovations is examined separately using the example of PrivatBank, which is one of the leaders in the digital transformation of Ukraine’s banking sector. It has been established that the active implementation of innovative technologies enhances the bank’s competitiveness, expands its customer base, increases the volume of financial transactions, and reduces operating costs. It has been demonstrated that the digitalization of banking processes creates additional opportunities for the development of new business models and an increase in customer-centricity. At the same time, it has been determined that the rapid development of fintech is accompanied by a number of challenges, including the need to improve regulatory frameworks, ensure cybersecurity, minimize fraud risks, and foster effective collaboration between traditional financial institutions and fintech companies. It is argued that the further development of financial technologies is an important prerequisite for the modernization of Ukraine’s financial system, its integration into the global financial space, and the assurance of sustainable economic growth | ||
| Key words | financial market, digitalization, financial technology, digital solutions, innovation, banking sector, competitiveness | ||