The purpose of the research is the definition of the dominant ideas of financial technologies in digital banking. The methods of theoretical generalization, qualitative, quantitative and correlation analysis, causality tests, description and explanation are used, which made it possible to establish the relationship between the volume of investments in financial technologies and the performance of the banking system, identify the areas of application of financial technologies in the activities of the bank, determine the dominant ideas of financial technologies in digital banking and to uncover the factors and prospects of intensifying the use of financial technologies in digital banking in Ukraine. Results of the research are to substantiate the impact of artificial intelligence, biometrics, cloud services, big data, blockchain and open banking services on digital banking. Due to financial technologies in digital banking, it is possible to generate and store large amounts of data, simultaneously analyze and apply the results of their analysis, provide personalized banking services, perform the functions of central storage of information about the client of financial and non-financial nature, which facilitates the effective investment and credit decision-making, as well as improving the level of information security of banking operations. Practical implications. Financial services markets are transformed by the impact of financial technologies. Development of financial technology instruments by non-banking institutions necessitates the identification of opportunities for their use in banks. The set of financial technologies used by banks forms the digital banking system, the development level of which is the main competitive advantage of the bank in the business environment. Digital banking is characterized by the continuity and security of banking services, which provide the consumer with the ability to receive them online anywhere around the clock, personalization of banking services, digital authentication of users and digitization of banking transactions with the replacement of paperwork. The use of financial technologies in digital banking enables to automate customer segmentation processes, reduce costs on payment transactions, optimize accounting, financial and tax accounting, improve customer service and expand your customer base while maximizing revenue in certain business segments. Value/originality. The basic spheres of the use of financial technologies in digital banking, as well as the factors and prospects of intensifying the use of their instruments in Ukraine are revealed. The main areas of use of financial technologies in digital banking are customer behavior analysis, transaction monitoring, customer identification and segmentation, fraud management, banking services personification, risk assessment and regulatory compliance, customer response analysis, process automation, financial advice, investment decision-making, trade facilitation, syndicated loan services, and P2P transfers. The prospects for developing financial technology tools in digital banking include strengthening the interaction between regulators, banks and financial technology companies, the increased use of biometrics, the development of neo-banking and open banking services.
The authors reveal fundamental tendencies of banks financial intermediation especially in the sphere of shadow banking and off-balance writes-off. Substantial transformations of financial system structure caused by liberalization of financial legislation, invention of brand new financial instruments and special risk-transferring schemes (special purpose entities via special investment vehicles) and the gradual process of banking universalization specifically the approximation of business models conducted by traditional commercial and investment banks created grounds for the review of current approaches to financial systems classification. The objective of the study is to identify operative patterns and specifics of financial systems in the context of global structural transformations of business models in the bank sector. Methodology. The methodological basis of the study is formed by theoretical works of foreign and domestic experts on issues related with financial systems worldwide, and the statistical data on the operation of banks in various countries, normative documents of prominent international economic institutions. The general scientific methods of analysis and synthesis, abstraction, quantitative and qualitative comparisons, descriptive analysis, analysis of the current performance of the financial system are used in elaborating theoretical and methodological framework for the typology of national financial systems by position and role played by banks in the financial system. Results. The central objective of the financial system is to transfer temporarily free financial resources from its actors that have their surplus to the ones that feel the deficit of funds. National financial systems can, therefore, be classified by the way domestic companies raise funds they need.
Аbstrаct. The аrtіcle іs аbоut іnvestіgаtіng аnd fоrmulаtіng methods оf digitalization of the HR-management system of the enterprise in the context of globalization changes by means of HR-technologies and HR-functions transformation analysis. The оbject оf the reseаrch іs the mоdіfіcаtіоn оf the HR-technologies, factors influencing the development of the HR-function in times of digitalization. Reseаrch methоds аre а set оf theоretіcаl аnd methоdоlоgіcаl, ecоnоmіc аnd аpplіed іssues оf defіnіtіоn, develоpment аnd іmplementаtіоn оf the process of digitalization of the HR-management system of the enterprise in the context of globalization changes. Іt wаs аnаlysed scіentіfіc аrtіcles cоnnected wіth digitalization processes, digital products and HR-solutions, directions of changes in HR-management digitalization process, influence ofglobalization changes at the HR-management system of the enterprise. The аrtіcle prоvіdes аn understаndіng оf the rоle оf digital technologies in HRМ, opportunities provided by digital transformation of HR-management system. It is proved that in today’s conditions, the HR-function of the enterprise should be implemented through flexibility, integration into the business and be able to attract, retain and develop talent. It is analysed how globalization changes and actualization of existing HR-technologies influence human capital market. Among the total investment in digitalization of HR-processes, about half (49%) is aimed at implementing software solutions for human capital management, a third (32%) covers the implementation of cloud services, and in the near future plans to increase investment in forecasting, improved solutions process automation, artificial intelligence. It is investigated the evolution of HR-functions under the influence of digitalization and found out the relevance and directions of digital technologies implementation in HR processes. The article reveals the main directions of HR-management digitalization changes: digital workforce, digital workplace, digital HR. The key opportunities that digitalization brings to HR-management have been substantiated. To get the most out of advanced technologies, HR-competencies must be clearly defined, correlated with business requirements, differentiated by functions, roles and levels, updated at the right time, applied to perform any HR-management functions. It is analysed opportunities provided by digital transformation of HR-management system. Digital economy, human capital and information technology play a crucial role in ensuring sustainable economic development. The mаіn results оf the reseаrch cаn be аpplіed іn the prаctіcаl аctіvіty оf enterprіses іn оrder tо implement HR-management system digitization path. Further reseаrch needs tо be tаken in the field of the HR-technologies development due to fast-moving digital decisions and in accordance with specifics of the domestic countries’ globalization and digitalization influence. Keywоrds: digitalization, HR-management system, globalization, globalization changes, sustainability, HR-technologies, human capital, digital HR, HR-functions, artificial intelligence. JEL Classification L86 Formulas: 0; fig.: 4; tabl.: 1; bibl.: 20.
Nowadays, it is imperative to use forecasting technologies that are most likely to predict the development of economic systems. Foresight technologies based on a combination of strategic analysis and forecasting of key indicators provide a high level of probability of achieving certain results and contribute to shaping conditions for their achievement. Among economic systems, tourism sector is the most vulnerable to the negative impact of the global pandemic. In 2020, its revenues fell by 70%, leading to an unprecedented crisis. Accordingly, questions arise about the Ukrainian tourism sector’s ability to use the crisis as a prerequisite for recovery and growth.Based on the results of a two-round survey using the Delphi method among experts (56 at the first stage and 42 at the second) representing various tourism directions for Ukraine’s tourism sector up to 2030, six strategic development priorities were formed. Key indicators were identified, such as contribution to GDP (7-8%), place in the global tourism competitiveness rating (60-70th position among 140 countries), and average annual growth rate of international arrivals (5-10%). It has been determined that in case of the end of the world pandemic, the Ukrainian tourism sector can achieve the indicators of “pre-crisis” functioning in 1-3 years.The proposed architectonics of the foresight platform in the context of digitalization of network communications will ensure the adoption of management decisions to develop Ukraine’s tourism sector in the domestic and international markets. It will strengthen its position, image, and strategic sustainability in the markets for tourist services. AcknowledgmentThe paper reflects the results of the authors in the framework of studies conducted in 2018–2020 at the Kyiv National University of Trade and Economics by order of the Ministry of Education and Science of Ukraine (Paradigmatic and Conceptual Shifts in the Economic Theory of the 21st Century) (Q1 2018 – Q4 2020; state registration number 0118U000126), and Formation of the National Brand of Ukraine in the International Environment (Q1 2018 – Q4 2020; state registration number 0118U000127)).
The paper aims at analyzing the impact of tourism on the economic growth in Ukraine considering its global significance and dynamic development. Tourism should be considered not as a separate phenomenon, but as a complex socio-economic-ecological system, i.e. the national tourism system (NTS). The study attempts to reveal the nature and determinants of the national tourism system impact on economic growth, and also empirically substantiates this in the Ukrainian context. Since the economic decisions require a huge amount of information and different models, a multivariate least square model has been proposed to determine the causal links between NTS and economic growth. The paper also presents the economic parameters such as Ukrainian GDP as a dependent variable, volume of domestic tourism consumption, income from international passenger carriage, international tourism expenditures in the country, the volume of services provided in temporary accommodation and catering establishments, and country’s income from NTS as independent variables. The paper is based on the 2000–2017 statistical data. It concludes that the increase of total NTS contribution to GDP is influenced by all considered factors except the international tourism expenditures in the country. A proposed econometric factor analysis model can be used as a tool to analyze and forecast the socio-economic NTS processes. The hypothesis of the NTS`s impact on economic growth is substantiated.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.