Bank challenges in the context of the COVID-19 pandemic

Анотація

Purpose. The aim of the article is highlighting the main problematic aspects of the activities of the subjects of the banking sector in the context of the COVID-19 pandemic. Methodology of research. The theoretical basis of the study is the scientific works of foreign and domestic scientists on the research problem. The following methods are used in writing the article: analysis and synthesis – in the study of foreign and domestic experience in identifying problems in banks provoked by COVID-19; settlement and analytical – in the analysis of the impact of crisis phenomena on the activities of banks; abstract and logical – in substantiating theoretical generalizations and conclusions. Findings. The problems of functioning of banks in the conditions of COVID-19 distribution are investigated. It is substantiated that the priority directions of changes in the current principles of the banking system are providing services through digital channels, credit risk assessment and management, use of a range of digital opportunities to increase customer engagement, implementation of the concept of working world 4.0, which provide for the development of quality management, which, in turn, includes interaction with its employees and the creation of rules for virtual communication. Originality. Measures to avoid the consequences of the coronary crisis for banking institutions, in particular to monitor corporate borrowers and develop a strategy for working with retail customers, taking into account the specifics of the current crisis, and by introducing additional warning signals characterizing borrowers' vulnerability to COVID-19 are proposed. Practical value. The obtained results of the study can be used for further scientific research on the development of ways to overcome the crisis in the banking system caused by the pandemic, as well as in the practice of banks to ensure their financial stability. Key words: bank, banking system, banking sector, manager, COVID-19, crisis, remote service.

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