State Policy of Consumer Protection in the Digital Financial Services Market in Ukraine

Lobozynska, Sophia; Skomorovych, Iryna; Vladychyn, Ulyana

doi:10.18778/2391-6478.s.2021.05

Cited by 3 publications

(3 citation statements)

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“…This includes powerful computing systems that will be able to handle huge volumes of transactions and support data analytics. High-speed internet and advanced communication channels are key to securing flexible, scalable, and costeffective cloud services (Lobozynska et al, 2021). Network infrastructure makes sure that financial operations don't stop.…”

Section: Literature Reviewmentioning

confidence: 99%

The moderating role of information technology infrastructure in the relationship between fintech adoption and organizational competitiveness

Alzghoul,

Al-kasasbeh

2024

Investment Management and Financial Innovations

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The rapid advancement and adoption of fintech have significantly influenced the banking sector worldwide. This study aims to investigate the moderating effect of information technology infrastructure on the link between fintech adoption and organizational competitiveness in Jordanian commercial banks. The study chose a quantitative research methodology to conduct this study, based on a survey of 12 Jordanian commercial banks, chose a quantitative research methodology. The study distributed a structured questionnaire, which was filled out by managerial-level employees at the banks. From the 400 questionnaires distributed to the respondents, 215 returned valid responses, allowing further analysis. The study carried out the data analysis using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results suggested that the adoption of fintech had a significant, positive direct impact on organizational competitiveness (H1: β = 0.409, t = 5.204, p = 0.001). Additionally, the study identified that IT infrastructure significantly moderates the relationships between fintech adoption and organizational competitiveness (H2: β = 0.257, t = 4.102, p = 0.000). This means, indeed, that fintech adoption independently augments the competitiveness of Jordanian commercial banks. Moreover, a solid presence in IT infrastructure further strengthens the positive effect. Such insights are highly valuable for bank managers and policymakers looking to improve organizational performance while incorporating strategic IT investments in the fintech domain.

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Section: Literature Reviewmentioning

confidence: 99%

The moderating role of information technology infrastructure in the relationship between fintech adoption and organizational competitiveness

Alzghoul,

Al-kasasbeh

2024

Investment Management and Financial Innovations

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“…Pshik and Oleynyuk (2022) and Korneev (2022) described how the financial system functions in extreme conditions of martial law. Druhov and Druhova (2022) and Lobozynska, Skomorovych, and Vladychyn (2022) analyzed the main measures introduced by NBU when the Russian Federation invaded Ukraine.…”

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confidence: 99%

Business Models of Ukrainian Banks: the Impact of the Revolution of Dignity, the COVID–19 Pandemic, and Russia’s Military Aggression

Kravchuk

2024

CER

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The purpose of the article is to identify key banking activity models in Ukraine and show how they changed under the influence of the Revolution of Dignity, the COVID–19 pandemic, and the imposition of martial law. The proposed method uses cluster analysis of the main indicators for banking activity (concerning assets, liabilities and income) based on Ward’s agglomerative hierarchical clustering algorithm and the Tau index in the NbClust package as the criterion for evaluating the optimal number of clusters. The research covers all Ukrainian banks, spanning the period 2013–2022. In 2014 (after the Revolution of Dignity), the actions of the National Bank of Ukraine (NBU) had a positive impact on the models of Ukrainian banks: there was no opaque model of banks and banking models became more transparent and more resilient to financial shocks. Between 2021 and 2022, five banking models were identified: universal banks, wholesale funding banks, corporate‑investment banks, retail banks, and commission banks. The negative impact of COVID–19 on the Ukrainian economy was reflected in all banking models by the following: (1) a significant increase in the role of securities in assets, which was caused by a decrease in lending due to an increase in their riskiness; (2) the use of central bank funds to liabilities management, which was evidence of a deterioration in financing conditions in the deposit market. The following main changes in Ukraine’s banking system at the end of 2022 (during the war) were identified: (1) a decrease in the number of banks that mainly use funds from the NBU to support their activities; (2) the closure of only four banks by the NBU (including two with majority shareholders from Russia) during the year; (3) an increase in the share of the non‑government debt securities portfolio in banks’ assets; (4) declines in ROE and ROA for all banking models during the war, and three banking models became unprofitable; (5) the significantly higher share of non‑performing loans in the credit portfolio for all banking models, especially for the retail banking model. The value‑added of this research is the analysis of how banking models in Ukraine have changed at the micro level (reflected in the financial statements) inter alia in wartime.

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“…А за даними американської аналітичної компанії Chainalysis, Україна посідає 4 місце в рейтингу Global Crypto -currency Adoption Index 2021. Отже, прогноз може справдитися і в блокчейн-індустрії з›явиться ще більше фінтех-проєктів [8].…”

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Digitalization of Banking Sector and Development of Fintech Market in Ukraine

Yelisieieva

Peretiatko

2022

Visnyk DonNUET

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Objective. The objectiveof the study is to analyze the state of the FinTech industry as well as the trend towards the emergence of neobanks and digitalization of classical banks in the Ukrainian banking sector; to determine the impact of FinTech companies on the institutional transformation of financial markets, especially in terms of their interaction with existing financial institutions, as well as to review the actions of the NBU as a market regulator. Methods. To achieve the defined goal and solve the set tasks, a system of general scientific research methods is used, namely: methods of theoretical generalization of induction, comparison, graphical and tabular — to clarify the problematic aspects of FinTech development in Ukraine and illustrate the analysis of the digitalization processes of the domestic banking sector; abstract-logical method — to summarize the results of the study and identify priority areas and tools for further development of FinTech and neobanks in Ukraine. Results. It is established that the fintech business and digitalization of the banking sector is at the stage of active development, which is manifested in the increase in the number of fintech companies and the expansion of their activities, as well as the transition of banks to online services. And the beginning of Monobank’s activity became the starting point for neobanks in Ukraine. One of the main catalysts for the transition to online services by banks is the introduction of the “Diia” and “BankID” service, which allows financial institutions to verify customers online. In order to control and legally regulate fintech companies, the NBU has developed a “Strategy for the Development of Fintech in Ukraine until 2025”. The formation of fintech companies and neobanks in Ukraine is facilitated by certain prerequisites: the creation of adequate infrastructure; the formation of a favorable legislative and regulatory environment; ensuring access to capital and investment; the availability of a sufficient level of qualifications and innovative potential of employees.

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State Policy of Consumer Protection in the Digital Financial Services Market in Ukraine

Cited by 3 publications

References 0 publications

The moderating role of information technology infrastructure in the relationship between fintech adoption and organizational competitiveness

The moderating role of information technology infrastructure in the relationship between fintech adoption and organizational competitiveness

Business Models of Ukrainian Banks: the Impact of the Revolution of Dignity, the COVID–19 Pandemic, and Russia’s Military Aggression

Digitalization of Banking Sector and Development of Fintech Market in Ukraine

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