DIGITAL BANKING IN THE FINANCIAL SERVICES MARKET OF UKRAINE

Анотація

In the modern realities of digital transformation, the banking sector faces significant challenges that lead to changes in the methods of traditional banking operations and changes in the way banks interact with clients based on the use of digital technologies. One of the key trends in this area is the development of digital banking as a promising way of banking services. The study aims to study the theoretical and practical aspects of the development of digital banking in Ukraine's financial services market under conditions of digital transformation. The results of the analysis indicated an increase in the amount of attention paid by domestic and foreign scientists to the digital banking development issue. The article examines the theoretical foundations of the implementation of digital technologies in the banking sphere. The concept of digital banking is described. The SWOT analysis determined the main advantages, opportunities, disadvantages, and possible threats associated with using digital banking. The study distinguishes between the concepts of a purely digital bank and a traditional bank that uses digital technologies in its activities. The peculiarities of the activity of digital banks of Ukraine are characterized. The number of digital banking users in the world as a whole and separately in Ukraine was analyzed. The level of development of domestic digital banking was assessed, and the number of cashless transactions using payment cards from 2019 to 2023 was analyzed. The forecast of the number of bank branches and the volume of non-cash payments using payment cards made it possible to determine that in the future the number of bank branches will decrease, and the volume of non-cash transactions will increase. The digital banks of Ukraine are characterized, and the main innovative products of the leading traditional banks are highlighted. Based on the research of the company InMind, it was concluded that the share of digital banking users is growing and the most popular transactions in digital banking among Ukrainians were singled out. An analysis of the ease of use of mobile applications of domestic digital banks was also conducted, among which the most convenient and functional applications were found to be Monobank, Sense Bank, A-Bank, and the least - Raiffeisen Bank and Oschadbank.

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