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JEL Classification:<\/strong> G14; G21; G24.<\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V51(2025)-28<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Starostenko Dmytro,<\/strong> Graduate student of the third level of higher education, Dmytro Motornyi Tavria State Agrotechnological University, Zaporizhzhia, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-2477-0427<\/span><\/a><\/p>\n

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

Formation of a Mechanism for Digital Transformation of Business Processes in the Development Strategy of Financial Companies<\/h2>\n

Abstract. Introduction<\/i><\/b>. <\/span><\/i>This article considers special conditions for forming a digital transformation mechanism for business processes in financial companies’ development strategies. It substantiates the tools and methods for accelerating the implementation of financial companies’ digital capabilities through the parameters of the strategy for developing digital trends. This allows for the use of integrated and secure digital technologies in the payment market when the economic environment changes, avoiding losses from cyberattacks in the virtual, internal, and external cluster distribution networks of the digital system.\u00a0<\/span><\/i><\/p>\n

The <\/span><\/i>purpose <\/i><\/b>of the study is to substantiate the tools and methods of accelerated implementation of digital capabilities of financial companies in the mechanism of digital transformation of business processes through the parameters of the strategy for the development of digital trends, which allows the use of integrated and secure digital technologies in the payment market when the economic environment changes and avoid losses from cyberattacks in the virtual, internal and external, cluster, distribution network of the digital system.<\/span><\/i><\/p>\n

Results<\/i><\/b>. From an economic standpoint, groups of technologies in digital systems are defined. It has been proven that the digitalization of business processes in the service portfolio of financial companies increases their efficiency by saving resources and energy. A resource-functional approach is proposed for considering digital transformation. This approach includes the concept of digital transformation, its goals and objectives, and the structure of the tools and resources that protect cash flow from external challenges. It integrates financial companies’ digital systems into a complete update and transition to a new digital level of development. This transition is achieved through the use of digital technologies, which affect the flexibility and efficiency of business processes in the payment market.\u00a0<\/span><\/i><\/p>\n

Conclusions<\/i><\/b>. The elements of Fintech technologies in the mechanism of digital transformation of business processes during the transition of financial companies to the 5.0 strategy are structured. The policy of Industry 5.0 strategizing is presented when forming the mechanism of digital transformation of business processes of financial companies. The directions for forming the digital transformation mechanism of business processes according to the European Industry 5.0 course are substantiated. This approach conceptualizes the practical application of the resource-functional strategy for developing financial companies.<\/span><\/i><\/p>\n

Keywords:<\/b> digital transformation; digital technologies; digital system; payment market; business processes; financial companies.<\/span><\/i><\/p>\n

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

    \n
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    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 15 May 2025<\/span><\/p>\n

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    Starostenko D. (2025). Formation of a Mechanism for Digital Transformation of Business Processes in the Development Strategy of Financial Companies. Modern Economics, 51(2025), 211-218. DOI: https:\/\/doi.org\/10.31521\/modecon.V51(2025)-28.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: G14; G21; G24. DOI: https:\/\/doi.org\/10.31521\/modecon.V51(2025)-28 [\/vc_column_text][vc_column_text]Starostenko Dmytro, Graduate student of the third level of higher education, Dmytro Motornyi Tavria State Agrotechnological University, Zaporizhzhia, Ukraine ORCID ID: 0000-0002-2477-0427 e-mail: dmytro.starostenko@gmail.com Formation of a Mechanism for Digital Transformation of Business Processes in the Development Strategy of Financial Companies Abstract. Introduction. This article considers special
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