The relevance of the topic is that in the modern world financial services are developing most intensively in the field of electronic payments. With the development of digitalization of sales, services and even settlements between individuals, the old mechanisms do not provide the necessary convenience and speed for customers. Therefore, active development is taking place in the field of circulation of bank cards, payments from card to card (quick payments), electronic money, acquiring of various types. It is these aspects of the development of financial services that are considered in this article. The development of such financial services is relevant for Ukraine, which has significant potential in the development of innovations and their perception by the population and business. The purpose of the article is to analyze the development of the financial services market in Ukraine, identifying problems and prospects for the development of this market. The main results of the study: currently, the development of the financial market is closely connected with the development of financial technologies (FinTech) of financial organizations. Innovative solutions in this area allowed such banks in Ukraine as PrivatBank or FUIB to significantly increase their liabilities, assets and income. Further, the development of the financial services market should be associated with stimulation by the state of the development of non-cash payments, payment infrastructure (especially in regions where it is not yet developed enough). Prospects for further research are related to further study of the development of financial technologies in the financial sector, operations with bank cards and electronic money in Ukraine. The applied value of the material lies in determining the directions of development of financial operations, financial services for customers and financial products, primarily in Ukrainian banks.
The impact of a range of factors on the country’s financial system, primarily related to the war, determines the relevance and importance of conducting this study. In modern conditions, the sphere of finance is transformed and adapted, therefore the purpose of this study was to investigate the current state of the country’s financial system in the context of the functioning of its main structural elements. The methodological basis of this study included the use of both general scientific methods, such as analysis, synthesis, comparison, comparison, and specific methods. To detect existing trends and processes in the financial system of Ukraine, statistical methods of dynamic and structural analysis were used. The study used a complex approach to the investigation of the financial system, specifically, the budget sphere, the banking system, the securities market, and the currency sphere were analysed. The main processes that affect the formation and implementation of the revenue and expenditure part of the state budget have been identified. The volume of tax revenues and their share in the formation of state budget revenues in the pre-war and wartime periods were compared. The main reasons for the growth of the budget deficit have been identified. The key sources used to cover the deficit were highlighted. The state of the national securities market was described based on the analysis of the structure of trade transactions in terms of financial instruments. The study found that the main share of trade transactions takes place with government debt securities. The banking sector, the financial system of the country, based on indicators of liquidity and profitability, was studied. Using the stability rating of banking institutions, it was found that leading positions in it are occupied by financial institutions that have foreign sources of financing, as well as state banks. The dynamics of devaluation of the hryvnia with the dynamics of inflationary processes were investigated. The results of the study allow for a comprehensive assessment of the current state of the country’s financial system and will be useful both to actors in the country’s financial sector and to managers who determine the basis of its functioning
The relevance of the study is explained by the underdevelopment of the securities market in Ukraine, which barely started establishing the institutions and mechanisms of a market economy. Ukraine has a decentralised system of depository services, which hinders the development of the stock market, because the decentralised system of accounting for rights to securities complicates the procedure of transactions and increases risks. The purpose of the study was to investigate the international experience of securities depository in the rapidly expanding securities markets, especially in Eastern Europe and Asia, their technology, identifying their new functionality and dominant models of their architecture in the context of regulation, interaction of market participants and protection of their property rights. The main methods of study of international experience in the provision of securities custody services were empirical, analytical, and inductive methods, which together allowed describing the systems of securities circulation in different countries, analysing them to identify common features that are important for their implementation in Ukraine for integration into the global system of redistribution of financial resources. The study considered various securities storage systems, national depository systems, covered the features of national mechanisms of interconnection of all participants in the securities market, identified conceptual problems of securities market organisation in Ukraine, substantiated the need to adapt international experience for institutional development of the national depository system of Ukraine. The materials of the study have practical value for the development of the depository system in Ukraine as a basis for the functioning of the securities market, compatible with technological international depository systems in full functionality, which guarantees investors' property rights and enables Ukraine to become a full-fledged redistributor of global financial resources and, accordingly, to attract investments for economic development pursuant to international rules and standards of “transparent” functioning of securities markets, thus putting institutional barriers to corruption influences. The comparative analysis of depository systems of different countries allowed covering weaknesses in the existing depository system of Ukraine, outlining the conceptual approaches to legislative and organisational actions on its development
Рошило В. І. кандидат економічних наук, доцент, доцент кафедри фінансів, банківської справи та підприємництва Чернівецького торговельно-економічного інституту Київського національного торговельно-економічного університету
The relevance of the scientific article lies in the need to substantiate the importance of the role of currency exchange rates for the robust functioning of the country’s economy. The purpose of the article is to analyse the dynamics of foreign currency exchange rates, mainly the dollar, and the euro, in Ukraine, taking into account factors of seasonality and demand for government bonds. The main methods used in the paper are statistical empirical research methods, in particular modelling. It was determined that the export of raw materials, mainly steel, and various agricultural crops such as wheat, corn, sunflower oil, soybeans, etc., plays a particularly important role in Ukraine. It was found out that the mentioned fluctuations in export are one of the reasons for the currency seasonality, but not the only one or the main reason, as the exchange rate is strongly influenced by oil, gas, and other energy resources prices, which the country needs constantly, especially during the heating season. The exchange rate of the hryvnia over the last five years within the context of the National Bank of Ukraine has also been analysed. It was found that the demand for government loans bonds is one of the most important factors in considering the foreign currencies exchange rates in Ukraine. To make models more plausible and to reduce the influence of other factors in determining seasonality of the currency with certain currency pairs with the dollar, euro, yen, zloty, and ruble, the data for the last several years has been used, which are less likely to be distorted by the influence of external factors. It has been confirmed that a successful trade policy is a key source of currency stabilisation in Ukraine. The article is useful for studying the functioning of currencies in general; for studying the economy of Ukraine, especially the country’s currency issues; for students of various economic disciplines
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