Matviychuk Viktoriya, PhD in Economics, Associate Professor of the Department of Finance, Banking and Insurance, Vasyl’ Stus Donetsk National University, Vinnytsia, Ukraine

ORCID ID: 0000-0002-1032-3060
e-mail: v.matviichuk@donnu.edu.ua

Kryvoruchko Anastasia, student, Vasyl’ Stus Donetsk National University, Vinnytsia, Ukraine

ORCID ID: 0009-0003-5082-3160
e-mail: kryvoruchko_a@donnu.edu.ua

Yanishevskyi Bohdan, student, Vasyl’ Stus Donetsk National University, Vinnytsia, Ukraine

ORCID ID: 0009-0008-9251-1356
e-mail: ianishevskyi.b@donnu.edu.ua

Transformation of the Ukrainian Financial Market in the Context of Digitalization

Abstract. Introduction. The modern world is rapidly moving in the direction of digital transformation, and Ukraine is no exception, therefore the question of the transformation of the financial market of Ukraine in the conditions of digitalization is quite relevant.

Purpose The purpose of the article ends in the development of the concept of the mechanism for improving the functioning of the financial market in Ukraine based on the diagnosis of its current state in the conditions of digitalization to ensure the stable economic development of Ukraine.

The article is devoted to an overview of the trends in the development of digital technologies in the financial market of Ukraine. It is determined that digital transformation is an integral part of modern life and social development and affects all areas of activity. Particular attention is paid to the analysis of the latest technologies used in the banking sector, stock market, insurance and investment sectors. The opportunities offered by digitalisation are described separately for each sector. Promising areas for the development of digital technologies in the country’s financial market are considered.

Results. The results of the analysis show that the use of digital technologies can contribute to the stable economic development of the financial market of Ukraine, ensuring rapid development, increasing competitiveness and improving the quality of the financial market.

The practical significance of the study lies in the proposed concept for improving the functioning of the financial market of Ukraine in the context of digitalisation.

Conclusions. The analysis of the introduction of the latest technologies such as artificial intelligence, cloud services, blockchain and digital services, in different sectors, including banking and investment sectors, stock market and insurance, demonstrates that digital transformation is a key factor for stable economic development, increased competitive development, increased competitiveness, increased competitiveness, increasing competitive market and improving the quality of financial services. The implementation of the developed concept will facilitate the effective digital transformation of the domestic financial market according to the world trends and increasing its competitiveness.

Keywords: financial market; digitalization; digital services; automated systems; blockchain technologies; cloud services; artificial intelligence

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