Improving customer relations in the banking sector of Ukraine through the development of priority digital banking products and services: Evidence from Poland

Abstract

The emergence of new players – fintech companies, neobanks and non-banking companies – changes the structure of competition in the banking sector, reduces the profitability of traditional banking activities, and therefore forces banks to look for new sources of income. The paper deals with the issue of improving relations with clients in the banking sector of Ukraine, which is proposed to be implemented through the development of priority digital banking products and services. The study used a survey method using a statistical apparatus of a small unique sample, the degree of representativeness of which was assessed using the Student’s test. Slightly higher, closer to the level that characterizes the significant impact on the client’s perception of the whole complex of digital activities in the case of Polish banks (3.81, with a maximum possible score of 5.0) than Ukrainian banks (3.75), which indicates greater involvement and willingness to accept the digitalization of the people of Poland. Generally, banks in both countries are recommended to use a customer-oriented approach in forming product policy using digital products and services, which should be implemented and developed in practice in specific areas identified during customer surveys.

Unveiling individuals’ financial behavior patterns: The Polish-Ukrainian case study in the pre-war period

“…The behavior related to the acquisition of more complex financial instruments with higher profitability, as well as innovative digital tools (Pawłowski, 2018), is also influenced by one's knowledge about them. Prokopenko et al (2022) focused on improving access to finance through http://dx.doi.org/10.21511/imfi.20 (4).2023.20 digital banking products, which necessitate fundamental knowledge of financial and computer literacy. Świecka (2018) categorizes competencies in personal finance management into two distinct categories: «hard» and «soft.» The hard competencies encompass specific skills that can be readily assessed and quantified.…”

Marketing research in the context of trust in the public sector: A case of the digital environment

“…Different theories exist in the literature regarding the positive and negative consequences of digital transformation in society (Martins et Kwilinski et al, 2020). Some of these studies were directed at investigating the differential impact of digitalization on banking products and services from a customer-oriented perspective (Prokopenko et al, 2022), while others discussed digital shifts in the financial industry in general (Kolodiziev et al, 2021;Volosovych et al, 2021;Kolodiziev et al, 2022). At the other end of the spectrum of academic research, there is a discussion about the link between the digital divide and the level of economic development of regions (Deineko et al, 2022;Melnyk et al, 2022) or country macroeconomic stability (Petroye et al, 2020;Tiutiunyk et al, 2021;Wang et al, 2022).…”

Інвестиційна Стратегія Банківського Сектора В Умовах Нестабільності Фінансових Ринків

“…There are a number of underlying reasons, which, in the author's opinion, mostly relate to state administration. In particular, they include imperfect legislative framework, underdeveloped stock market, problems related to tax legislation, as well as the functioning of banking institutions under the constant influence of different crisis phenomena [9][10][11] Therefore, banks mainly invest in the least risky securities -domestic government bonds.…”