{"id":11542,"date":"2019-05-20T13:52:32","date_gmt":"2019-05-20T10:52:32","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=11542"},"modified":"2019-05-21T14:03:51","modified_gmt":"2019-05-21T11:03:51","slug":"scientific-and-methodological-approaches-to","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/scientific-and-methodological-approaches-to\/","title":{"rendered":"Semenog Andrii, Brychko Maryna, Semenog Viktoriia Scientific and Methodological Approaches to Assessing the Level of Consumer Trust in the Banking Market of Ukraine"},"content":{"rendered":"

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JEL<\/strong> Classification:<\/strong> G02, G21, D1.<\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-38<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Semenog Andrii<\/strong>, Ph.D. in Economics, Associate Professor, Associate Professor of Finance, Banking and Insurance Department, Sumy State University, Sumy, Ukraine<\/p>\n

ORCID ID<\/strong>: 0000-0003-3222-9574<\/a><\/p>\n

Brychko Maryna<\/strong>, Ph.D. in Economics, Senior Lecturer of Finance, Banking and Insurance Department, Sumy State University, Sumy, Ukraine<\/p>\n

ORCID ID<\/strong>: 0000-0002-9351-3280<\/a>
\ne-mail<\/strong>: m.brychko@uabs.sumdu.edu.ua<\/a><\/p>\n

Semenog Viktoriia<\/strong>, Master of Economics, Sumy State University, Sumy, Ukraine<\/p>\n

e-mail<\/strong>: vikasemenog@gmail.com<\/a><\/p>\n

Scientific and Methodological Approaches to Assessing the Level of Consumer Trust in the Banking Market of Ukraine<\/h2>\n

 <\/p>\n

Abstract. Introduction<\/strong>. The capitalist way of society\u2019s development involves a constant search for the development of effective forms and principles of the relations between different economic entities: entrepreneurs, employees, government, real and financial representatives. The basis of this process is the existence of trust as a key element for making a business project investment decision, hiring a new employee, paying taxes, receiving a loan or opening a deposit account at a bank. Trust in the information society becomes one of the most valuable assets of the company. To form and maintain trust is a priority task for the successful development of an individual enterprise and the state. In addition, trust is especially important for banking services market representatives, which are responsible for the preservation and transformation of financial resources within the economic system, ensure the uninterrupted development of the country\u2019s economy. All this emphasizes the issue of analyzing the level of trust to financial institutions\u2019 activities in society.<\/p>\n

Purpose<\/strong>. The purpose of the article is to systematize the modern research to determine consumer trust in the banking market and the development of scientific and methodological approaches to its assessment.<\/p>\n

Results<\/strong>. The essence and conceptual approaches to the interpretation of trust in the market of banking services on the basis of scientific works of foreign researchers were analyzed. The level of consumer trust and the main factors that determined it, such as the presence of formal institutions, social and economic disparity, the level of wealth and income in the country were described. The key determinants of institutional trust to financial institutions, among which competence, transparency, and integrity were also identified. Based on the scientific sources synthesis, it was determined that the consumer trust to a certain financial institution is an integrated concept that covers such components as a corporate image (brand), confidence to trust, dispositional trust, institutional trust, intention to trust, technological level of financial institution. On this basis, it was developed and conducted a survey that revealed that the technological and digital products of the bank are the most trusted factors for consumers. At the same time, it was established that consumers of banking services, in general, evaluating positively the level of trust in their bank, do not trust the financial and banking system. The scientific and methodical approach to the integrated assessment of consumer trust to the banking institutions was demonstrated. Based on the multicriterial analytical convolution of the dynamics of individuals\u2019 deposits, a number of accounts, cashless transactions, and inflation it was found that the listed indicators, besides the inflation rate, have a positive effect on the growth of trust to banks. It was established that during 2000-2017 the consumers’ trust to banks grew by 12% per year, and in general, increased by 5 times.<\/p>\n

Conclusions<\/strong>. Consequently, suggested approaches allow monitoring the propensity of households to save, determine the level of their trust to the banking institutions and their ability to perform the transformation of savings into investments.<\/p>\n

Keywords<\/strong>: trust; financial institution; bank; financial services market; banking services market.<\/p>\n

References:<\/strong><\/p>\n

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    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 29 March 2019<\/p>\n

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    Semenog Andrii, Brychko Maryna, Semenog Viktoriia (2019). Scientific and Methodological Approaches to Assessing the Level of Consumer Trust in the Banking Market of Ukraine. Modern Economics<\/em>, 14(2019), 245-252. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-38.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<< Back to contents<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"

    [vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] JEL Classification: G02, G21, D1. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-38 [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text] Semenog Andrii, Ph.D. in Economics, Associate Professor, Associate Professor of Finance, Banking and Insurance Department, Sumy State University, Sumy, Ukraine ORCID ID: 0000-0003-3222-9574 Brychko Maryna, Ph.D. in Economics, Senior Lecturer of Finance, Banking and Insurance Department, Sumy State University, Sumy, Ukraine ORCID ID: 0000-0002-9351-3280 e-mail: m.brychko@uabs.sumdu.edu.ua
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