{"id":19255,"date":"2024-07-30T17:47:14","date_gmt":"2024-07-30T14:47:14","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=19255"},"modified":"2024-07-30T17:47:14","modified_gmt":"2024-07-30T14:47:14","slug":"transformation-of-the-ukrainian-financial","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/transformation-of-the-ukrainian-financial\/","title":{"rendered":"Matviychuk V.,Kryvoruchko A., Yanishevskyi B. Transformation of the Ukrainian Financial Market in the Context of Digitalization"},"content":{"rendered":"

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JEL Classification: <\/strong>G18.<\/span><\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V45(2024)-08<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Matviychuk Viktoriya, <\/strong>PhD in Economics, Associate Professor of the Department of Finance, Banking and Insurance, Vasyl\u2019 Stus Donetsk National University, Vinnytsia, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-1032-3060<\/a>
\ne-mail: <\/strong>v.matviichuk@donnu.edu.ua<\/a><\/p>\n

Kryvoruchko Anastasia, <\/strong>student, Vasyl\u2019 Stus Donetsk National University, Vinnytsia, Ukraine<\/p>\n

ORCID ID:<\/strong> 0009-0003-5082-3160<\/a>
\ne-mail: <\/strong>kryvoruchko_a@donnu.edu.ua<\/a><\/p>\n

Yanishevskyi Bohdan, <\/strong>student, Vasyl\u2019 Stus Donetsk National University, Vinnytsia, Ukraine<\/p>\n

ORCID ID:<\/strong> 0009-0008-9251-1356<\/a>
\ne-mail: <\/strong>ianishevskyi.b@donnu.edu.ua<\/a><\/p>\n

 <\/p>\n

Transformation of the Ukrainian Financial Market in the Context of Digitalization<\/strong><\/h2>\n

Abstract.<\/strong> Introduction. <\/strong>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.<\/p>\n

Purpose<\/strong> 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.<\/p>\n

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.<\/p>\n

Results. <\/strong>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.<\/p>\n

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.<\/p>\n

Conclusions. <\/strong>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.<\/p>\n

Keywords: <\/strong>financial market; digitalization; digital services; automated systems; blockchain technologies; cloud services; artificial intelligence<\/p>\n

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

    \n
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  2. Josephson, A. (2023). The Best Robo-Advisors of 2022. URL: https:\/\/smartasset.com\/retirement\/the-top-10-robo-advisors.<\/li>\n
  3. Fiedberg, \u0412. (2024) Top-10 Robo-Advisors By Assets Under Management. Forbes Advisor. <\/em>https:\/\/www.forbes.com\/advisor\/investing\/top-robo-advisors-by-aum\/.<\/li>\n
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  5. Shubenko, I. (2020). Trends of Digitization in the Insurance Market of Ukraine.\u00a0Business Inform<\/em>,\u00a0 No 2, 273\u2013279. https:\/\/doi.org\/10.32983\/2222-4459-2020-2-273-279.<\/li>\n
  6. European Central Bank. (2018).<\/em> The revised Payment Services Directive (PSD2). <\/em>https:\/\/www.ecb.europa.eu\/press\/intro\/mip-online\/2018\/html\/1803_revisedpsd.en.html.<\/li>\n
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  9. National Bank of Ukraine. (2024). Dynamics of the number of operating structural units of Ukrainian banks 2008-2024. https:\/\/bank.gov.ua\/files\/stat\/Kil_pidr_2024-04-01.xlsx<\/li>\n
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  12. Lunkina, T. & Zadorozhna, O. (2022). Digitalization of insurance services in Ukraine in the context of military operations. Accounting, analytical and financial support of business entities: national, globalisation, European integration aspects : materials of the International Scientific and Practical Internet Conference. <\/em>Mykolaiv : MNAU.<\/em> https:\/\/dspace.mnau.edu.ua\/jspui\/bitstream\/123456789\/11996\/1\/32-35.pdf.<\/li>\n
  13. National Bank of Ukraine. (2024). Payment Card Transactions in Ukraine and Abroad, Q4 2023. https:\/\/bank.gov.ua\/ua\/news\/all\/operatsiyi-z-vikoristannyam-platijnih-kartok-v-ukrayini-ta-za-kordonom-iv-kvartal-2023-roku.<\/li>\n
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    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 19 May 2024<\/p>\n

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    Matviychuk V.,Kryvoruchko A., Yanishevskyi B. (2024). Transformation of the Ukrainian Financial Market in the Context of Digitalization. Modern Economics, 45(2024), 54-62. DOI: https:\/\/doi.org\/10.31521\/modecon.V45(2024)-08.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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    [vc_row][vc_column][vc_column_text] JEL Classification: G18. DOI: https:\/\/doi.org\/10.31521\/modecon.V45(2024)-08 [\/vc_column_text][vc_column_text]Matviychuk Viktoriya, PhD in Economics, Associate Professor of the Department of Finance, Banking and Insurance, Vasyl\u2019 Stus Donetsk National University, Vinnytsia, Ukraine ORCID ID: 0000-0002-1032-3060 e-mail: v.matviichuk@donnu.edu.ua Kryvoruchko Anastasia, student, Vasyl\u2019 Stus Donetsk National University, Vinnytsia, Ukraine ORCID ID: 0009-0003-5082-3160 e-mail: kryvoruchko_a@donnu.edu.ua Yanishevskyi Bohdan, student, Vasyl\u2019 Stus Donetsk National
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