Digital Transformation of the Economy of Ukraine: Opportunities and Risks of Development of Digitalization on the Example of the Banking Sphere

Abstract

Фурсова В.А. кандидат экономических наук, доцент, доцент кафедры финансов, учета и налогообложения Национального аэрокосмического университета имени Н.Е. Жуковского «Харьковский авиационный институт» Фадеева И.Г. доктор экономических наук, профессор, заведующая кафедрой финансов Ивано-Франковского национального технического университета нефти и газа Боровик Л.В. доктор экономических наук, доцент, доцент кафедры экономики и финансов ГВУЗ «Херсонский государственный аграрный университет»

Theoretical Approaches to Researching Digitalization Processes in the Global Economy

“…3) that will displace, in our opinion, other possible scenarios of transformation of the global monetary and financial system (multipolar system, monopolar system, status quo of the dollar). As for the domestic banking sector, according to a study by Ernst & Young within the framework of the USAID project Transformation of the Financial Sector (October 2016-December 2020, the trend of its development is completely contrary to the global trend of fintech solutions of banks, that is, Ukrainian banks perceive digital transformation not as a possibility, but as a «parallel world» (Fursova et al, 2020). Thus, currently domestic banks have a low level of participation in the capital of fintech companies (85.7% of banks do not have shares in fintech companies), bank participants have limited experience in the fintech industry (only 28.6% of surveyed banks, in addition, have at least one board member with knowledge of the fintech industry), only 50% of banks have a developed digital strategy.…”