{"id":18552,"date":"2023-07-28T13:01:09","date_gmt":"2023-07-28T10:01:09","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=18552"},"modified":"2023-07-28T13:01:09","modified_gmt":"2023-07-28T10:01:09","slug":"neobanks-in-ukraine-features-trends","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/neobanks-in-ukraine-features-trends\/","title":{"rendered":"Semenog \u0410., Pakhnenko \u041e., Shalda \u0410. Neobanks in Ukraine: features, trends and obstacles to development"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification<\/strong>: O16; O30; G20
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V39(2023)-20<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Andrii Semenog, <\/strong>Ph.D. in Economics, Associate Professor, Associate Professor of Financial Technologies and Entrepreneurship Department, Sumy State University, Sumy, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0003-3222-9574<\/a>
\ne-mail: <\/strong>a.semenog@biem.sumdu.edu.ua<\/a><\/p>\n

Olena Pakhnenko, <\/strong>Ph.D. in Economics, Associate Professor, Associate Professor of Financial Technologies and Entrepreneurship Department, Sumy State University, Sumy, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-4703-4078<\/a>
\ne-mail: <\/strong>o.pakhnenko@biem.sumdu.edu.ua<\/a><\/p>\n

Anzhelika Shalda, <\/strong>Bachelor of Financial Technologies and Entrepreneurship Department, Sumy State University, Sumy, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0003-1910-4988<\/a>
\ne-mail: <\/strong>shalda.lika@gmail.com<\/a><\/p>\n

 <\/p>\n

Neobanks in Ukraine: Features, Trends and Obstacles to Development<\/strong><\/h2>\n

\u00a0\u00a0<\/strong><\/p>\n

Abstract. Introduction. <\/strong>In the modern world, technology is increasingly influencing various areas of our lives, including the financial sector. The emergence of new innovative approaches to financial services is changing the traditional concept of the banking sector. One of the key emerging trends in this area is the development of neobanking as a system that covers a wide range of financial services provided by companies that are not traditional banks and use innovative technologies such as artificial intelligence, blockchain, digital platforms, and others to provide customers with more convenient, efficient, and affordable financial services.<\/p>\n

Purpose.<\/strong> The study aims to identify the main trends in the development of the modern banking sector in the context of the emergence of neobanks in the world and in the national field.<\/p>\n

Results.<\/strong> The article defines the essence of the concept of neobanking and analyzes its theoretical foundations. The specific features of the formation and operations of neobanks were considered. The essential neobank products are identified, and the main models of neobanks are analyzed. The global neobank market has been analyzed recently, and the main development trends have been identified. The domestic market of neobanks was also studied, and the main problems and obstacles to developing neobanks in Ukraine were identified. Transformational measures to address the problems under the regulatory framework in the context of the digitalization of the banking sector are proposed. The prospects for the development of digital banks are outlined.<\/p>\n

Conclusions.<\/strong> As a result of the research, a detailed analysis of the theoretical and practical aspects of neobanking under the influence of digitalization and other external factors at both the macro and micro levels was conducted. It helped to identify barriers to the comprehensive implementation of neobanks in practice and suggested directions for their prospects in the context of the Ukrainian banking sector.<\/p>\n

Keywords:<\/strong> digitalization; neobanks; banking sector; innovative technologies; fintech; digital economy; banking regulation; banking services.<\/p>\n

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

    \n
  1. Designing a sustainable digital bank. White Paper Executive Summary. Retrieved from: https:\/\/www.ibm.com\/downloads\/cas\/XGJGOJWA [in English].<\/li>\n
  2. Barabash, Yu. (2021). Ukrainian neobanks : key players and potential niches for development. Retrieved from : https:\/\/biz.nv.ua\/ukr\/experts\/monobankizibank-abo-sportbank-u-kogo-keshbek-bilshe-novini-ukrajini-50138385.html [in Ukrainian].<\/li>\n
  3. Baharev\u0430, Y\u0430. (2018). Mobile banking as a perspective direction for the development of banking information systems.\u00a0Agrosvit<\/em>. 11. 48-54 [in Ukrainian].<\/li>\n
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  5. Irshak, O. S., & Tvorydlo, O. I. (2022). Development of neobanks in Ukraine. Ekonomika ta suspil\u02b9stvo<\/em>. 36. DOI: https:\/\/doi.org\/10.32782\/2524-0072\/2022-36-10 [in Ukrainian].<\/li>\n
  6. Kleban, O., Tomashivs’ka, M., & Marutiak, H. (2020). The emergence and development prospects of neobanking in Ukraine. Visnyk L’vivs’koho natsional’noho ahrarnoho universytetu<\/em> : ekonomika APK<\/em>. 27. 117-120 [in Ukrainian].<\/li>\n
  7. Kozlianchenko, O. M., & Berezan, A. S. (2019) Prospects for the development of virtual banks (neobanks) in Ukraine. Finansovi doslidzhennia<\/em>. 2 (7) [in Ukrainian].<\/li>\n
  8. Lobozyns’ka, S., Skomorovych, I., & Vladychyn, U. (2021). Activities of neobanks in the market of financial services in Ukraine and the world. Finansovyj prostir<\/em>. 3 (43). 7-21 [in Ukrainian].<\/li>\n
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  10. \u00a0The best non-banks of 2023 according to GOBankingRates. Retrieved from: https:\/\/www.gobankingrates.com\/banking\/banks\/best-neobanks\/ [in Ukrainian].<\/li>\n
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  13. \u00a0Official website of GO2bank.. Retrieved from: https:\/\/www.go2bank.com\/ [in Ukrainian].<\/li>\n
  14. MONOBABK official site. Retrieved from : https:\/\/www.monobank.ua\/ [in Ukrainian].<\/li>\n
  15. \u00a0NEOBANK official website. Retrieved from: https:\/\/neobank.one\/[in Ukrainian].<\/li>\n
  16. \u00a0Official website of Revolut. Retrieved from : https:\/\/www.revolut.com\/[in Ukrainian].<\/li>\n
  17. \u00a0SoFi Official Site. Retrieved from : https:\/\/www.sofi.com\/[in Ukrainian].<\/li>\n
  18. Official website of the statistical service of the European Union. Retrieved from : https:\/\/ec.europa.eu\/.<\/li>\n
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  21. Sytnyk, I. P., & Fomina, V. S. (2019). The influence of fintech on the development of modern payment systems of Ukraine. 2. 139-143 [in Ukrainian].<\/li>\n
  22. List of neobanks and digital banks of the world in 2023. Retrieved from : https:\/\/neobanks.app\/ [in Ukrainian].<\/li>\n
  23. Tesliuk, S., Matvijchuk, N., Derkach, O., & Korkh, N. (2021). Neobanks : the essence and prospects of development in Ukraine. Ekonomichnyj chasopys Volyns’koho natsional’noho universytetu imeni Lesi Ukrainky<\/em>. 27 (3). 61-71 [in Ukrainian].<\/li>\n
  24. Financial reporting of Universal Bank JSC for 2020-2022. Retrieved from : https:\/\/www.universalbank.com.ua\/financial-reports [in Ukrainian].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 03 June 2023<\/p>\n

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    Semenog \u0410., Pakhnenko \u041e., Shalda \u0410. (2023). Neobanks in Ukraine: features, trends and obstacles to development. Modern Economics, 39(2023), 131-137. DOI: https:\/\/doi.org\/10.31521\/modecon.V39(2023)-20.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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    [\/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_column_text] JEL Classification: O16; O30; G20 DOI: https:\/\/doi.org\/10.31521\/modecon.V39(2023)-20 [\/vc_column_text][vc_column_text]Andrii Semenog, Ph.D. in Economics, Associate Professor, Associate Professor of Financial Technologies and Entrepreneurship Department, Sumy State University, Sumy, Ukraine ORCID ID: 0000-0003-3222-9574 e-mail: a.semenog@biem.sumdu.edu.ua Olena Pakhnenko, Ph.D. in Economics, Associate Professor, Associate Professor of Financial Technologies and Entrepreneurship Department, Sumy State University, Sumy, Ukraine ORCID ID:
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