Інноваційні технології у фінансовій сфері: узагальнення світового досвіду

The development of innovative information technologies in the modern world has become a necessity for improving the efficiency of activities of financial institutions and improving the quality of financial services provided to economic agents. The State plays an important role in creating a favorable environment for the implementation of such technologies. However, the introduction of innovative technologies by financial institutions is associated with risks that require the State-based regulation to ensure the stability and reliability of functioning of a financial system. The article discusses the issues of improving the State-based regulation of the processes of development and introduction of information and innovative technologies by financial institutions in Ukraine. Particular attention is paid to the substantiation of the need for such regulation. It is determined that the construction of a model of such regulation should be based on the balance of interests of financial institutions, their desire to implement digital technologies for their own development, on the one hand and, on the other hand, their clients, who want to be sure that their personalized information will not be made public to third parties thus leading to a loss of financial resources. The article fragmentarily analyzes the current trends in the development of banking and non-bank financial institutions, describes the transformation processes that have taken place in the model of the State-based regulation of financial institutions in Ukraine. As a result, taking into account the current objective processes of digitalization of both the activities of financial institutions and public authorities that regulate them, measures for the formation and ensuring the effectiveness of the State-based regulation on the introduction of information and communication technologies by financial institutions are proposed, namely: creation of a transparent and open regulatory environment; ensuring a high level of cybersecurity and protection of the customers’ personal data; promoting active cooperation between the State-based regulators, financial institutions, and public organizations for the development and implementation of innovative solutions in the field of balanced use of such technologies.

The banking system of Ukraine has faced significant shocks between 2014 and 2024, affecting its stability, lending activity, and depositor confidence. A high share of non- performing loans (NPLs), deposit outflows during crisis periods, insufficient long-term lending, and the impact of war on the financial system necessitate a study of mechanisms for managing credit and deposit portfolios. The resilience of the banking system is a critical factor in economic development. However, instability in the form of macroeconomic crises, regulatory changes, and military conflicts has led to declining loan volumes and deposit withdrawals. This situation demands the development of effective mechanisms for managing bank assets and liabilities. The study aims to analyze the dynamics and structure of Ukrainian banks' credit and deposit portfolios from 2014 to 2024, identify key issues, and propose solutions based on international experience. The research is based on an analysis of statistical data from the National Bank of Ukraine, international financial organizations, and academic publications. The following methods were used: Tabular method – to visually present the composition of the credit and deposit portfolios of Ukrainian banks. Graphical method – to interpret the dynamics of Ukrainian banks' credit and deposit portfolios. Trend analysis – to assess changes in key research categories with a forecast up to 2027. Vertical (structural) analysis – to evaluate the share of non-performing loans (NPLs) in the credit portfolio structure. Approximation method – to forecast and assess the accuracy of credit and deposit portfolio analysis. Comparative analysis – to compare the absolute volume of deposit and credit operations of Ukrainian banks with those of banks in selected countries worldwide. The study identifies key trends in changes to Ukrainian banks' credit and deposit portfolios between 2014 and 2024. The main challenges include a high level of non- performing loans (NPLs), low long-term deposit inflows, and the influence of external economic factors. It was found that state-owned banks hold the largest share of assets but face significant levels of problem loans. The study proposes measures to stabilize the banking sector, including enhanced regulation, incentives for long-term lending, and the introduction of innovations in financial management. The findings can be used by banking institutions, financial regulators, and government authorities to improve bank asset and liability management policies, enhance deposit insurance mechanisms, and stimulate lending to the real sector of the economy. The impact of digital technologies and financial innovations on banking system stability in the context of sustainable finance policy implementation. The effectiveness of regulatory changes in the banking sector and their influence on credit and deposit portfolios. Determining the optimal banking capital structure to minimize risks.

The development of technologies have had a huge impact on the financial sector. The term “Fintech” has emerged by merging finance and technology, which implies start-ups that use advanced technologies in financial services. On the one hand, advanced technologies facilitate and simplify the implementation of various operations and activities, but, on the other hand, pose a real threat to the conservative banking sector. The main goal of the introduction and development of financial technologies in the banking sector is to save time, accuracy and high quality of protection. As in the whole world, today Fintech is successfully developing in Georgia. It helps to attract investments and makes banking services more accessible, comfortable and flexible. The purpose of the study is to determine the role and importance of financial technologies in the development of the banking sector. The theoretical basis of the research is the experience of Georgia and foreign countries, theories and proposals of scientists-economists and practitioners. The article discusses the importance of introducing financial technologies to improve the competitiveness of banks, as well as the prospects for the development of the banking sector in the context of modern financial technologies.

Construction is one of the most significant sectors of the economy both by the share of the population employed in the industry and in the share of gross value added. Simultaneously сonstruction is one of the outsiders of digital transformation processes, which are now a trend in the development of the Russian economy. However, the construction industry has significant potential and prerequisites for the introduction of digital technologies, including building information modeling (BIM). A relevant scientific and practical task is to identify and systematize the factors (groups of factors) that have a significant impact on the introduction of innovative technologies in construction. This article presents the results of such systematisation with a focus on the implementation of BIM. The object of study was the enterprises of the investment and construction sphere of various focus, carrying out the transition to innovative digital technologies, including BIM. The subject is the factors of internal and external in relation to the organization of the nature that influence on the processes under study. The result of the study is a structured system of these factors, including external and internal environmental factors that may or may not be manageable in a particular management situation.

Strengthening the combination of science and technology finance is an important means to implement innovation driven development strategy.Since 2011, the Ministry of science and technology in conjunction with the eight ministries, the Ministry of finance, people's Bank of China and other selected 16 Beijing Zhongguancun, Chengdu hi tech Zone, Shanghai, Wuhan and other areas, to actively promote the combination of technology and finance pilot work, explore the new mechanism of scientific and technological resources and financial resources docking, and made significant progress.This paper attempts to sum up the experience of the pilot areas of scientific and technological financial innovation, in order to provide a good reference for the further development of Inner Mongolia's science and technology finance.

Digitalization penetrates all areas of economic activity, including the banking industry. Therefore, the purpose of the article is to analyze the transformation of banking services in the digital era based on an integrated approach. In the course of conducting scientific research, the authors used a set of scientific methods of cognition: the method of system analysis; the bibliographical method; the method of extrapolation and forecasting, which made it possible to identify patterns and trends in the development of digital transformation in banking. The digital transformation of banking leads to the introduction of innovative technologies to protect personal data, transaction data, the array of collected data, convenience and ease of use of mobile banking applications, speed of payments, etc. Such innovative technologies in the banking and financial sector are: mobile banking, AI, Blockchain, Machine Learning, Internet of Things, Big Data and open banking, etc. Each of the above areas of technological change contains the following characteristics: mobile banking – for digital interaction of banks with their clients; financial consultants based on artificial intelligence – to help in using the main functions of banking services, making informed management decisions; Blockchain – to reduce banking costs, the number of employees and increase the security of transactions; Machine Learning – to obtain a positive customer experience; Internet of Things – to integrate disparate types of equipment, devices for data exchange; Big Data – for collecting, processing, analyzing large data sets and making forecasts based on them and Open Banking – for the free exchange of financial data between different financial providers. The digital technology market is dominated by companies from the USA (Oracle, Microsoft, IBM, Amazon, etc.), as well as the UK and the EU. Forecasts of well-known consulting companies indicate the growth of digital technologies and the gradual transition to a virtual environment, where there is no need for the physical presence of the client in a bank. Keywords: digital transformation, banking structures, banking services, digital technologies, artificial intelligence, mobile banking, Blockchain technologies, Internet of Things, machine learning, big data, open banking.

Modern financial institutions are undergoing significant transformations driven by innovative technologies. This article examines current trends in financial innovations and their impact on the operations of banks, insurance companies, and financial institutions. The research focuses on the digitalization of financial services (FinTech), the application of artificial intelligence, blockchain, big data, new customer service models (mobile banking, online insurance), and risk management strategies. The study reviews the works of leading scholars who analyze the transformation of traditional financial services through digitalization and develop conceptual models, such as the “Digital Finance Cube.” The role of financial innovations in supporting economic growth and enhancing the competitiveness of companies is highlighted. The global experience in implementing financial technologies and their potential adaptation in Ukraine, considering regulatory barriers, is also examined. The research methodology is based on the analysis of scientific literature, statistical data, and applied studies in financial technologies. Special attention is given to the impact of digital tools on financial accessibility, particularly in the context of martial law in Ukraine. The study explores the role of blockchain, crowdfunding, and mobile financial services in addressing economic challenges and improving financial inclusion.The findings emphasize the necessity of further digital transformation in the financial sector, the expansion of financial technologies, and the development of innovative strategies to ensure the stability and efficiency of financial institutions.

The article reveals the essence of the concept of “financial innovations” and their features. The classification of financial innovations is given. The innovative models of the Ukrainian banking business development are analysed. The innovative developments of the world’s leading banks are systematized according to the version of the annual competition for the BAI-Finance Global Banking Innovation Awards held in Las Vegas. The innovative and information technologies in the work of financial institutions in the following areas are analysed: Product and Service Financial Innovation, Channel Financial Innovation, Financial Innovation in Social and Community Impact, Financial Innovation in Internal Process Improvement. Foreign experience and features of the development of the newest innovative information technologies in the financial services market are analysed. The subject of research is theoretical and applied aspects of the development of innovations and information technologies in the functioning of world-class financial institutions. The purpose of the article is to analyse and systematize foreign experience in the development of new innovative and information technologies in the financial services market. In the research, the authors used general scientific and specific methods, including: historical-logical, dialectical, deductive, analysis and synthesis, grouping, abstraction and formalization, benchmarking, generalizations and systematization. The article concludes that in modern rapidly evolving digitalization processes, financial innovations play an extremely important role and contribute to the economic development of countries. The authors point out that banking institutions need to focus their potential as much as possible on identifying priority digital and innovative initiatives, taking into account current challenges and threats. Finally, the effective use of specific financial innovations requires in-depth knowledge of the features of their operation and careful analysis of their consequences. The authors recommend the use of a cross-functional approach, which provides flexibility and the ability to transform change over time and is an important element in the process of implementing financial innovations. Taking into account the experience of leading banking institutions that actively implement innovative developments, the authors note that along with the benefits, financial innovations can cause new challenges and threats for all participants in this process. Researchers have shown that radical innovation can displace a dominant business model or technology and create a new market. According to the results of the analysis of innovative developments of banks around the world for the period 2015-2019, the authors found that financial innovations have changed their nature and are based on the latest digital technologies.

Purpose. The aim of the article is to determine the place of cryptocurrencies in the digital economy, assess their state and development trends, research prospective directions for expanding the scope of their use by introducing innovative technologies and tools, and reducing the risks of investing in crypto assets. Methodology of research. The following research methods were used to achieve the set goal: induction and deduction – in the process of identifying cause-and-effect relationships and trends in the development of cryptocurrencies in the digital economy; analysis and synthesis – in the process of studying the individual essential characteristics of the category "cryptocurrency"; comparison – in the process of researching changes in the market capitalization of cryptocurrencies, the dynamics of the Bitcoin exchange rate, the dynamics of the market capitalization of cryptocurrencies and DeFi; graphic – to visualize the results of the study. Findings. The influence of environmental factors on the dynamics of the development of cryptocurrencies during 2021‒2023 has been determined. The directions of their development in the digital economy are substantiated, which include the correlation of the crypto market with traditional markets and the financial sector of the economy, the emergence of new types of cryptocurrencies that expand the range of offered market tools, the expansion of the scope of use of cryptocurrencies through the introduction of innovative technologies and tools. Alternative directions for investing in crypto assets have been identified. A comparative assessment of the risks of traditional investing and investing in cryptocurrencies was carried out. Originality. Determining the essential characteristics of cryptocurrencies, such as price volatility, investment attractiveness and riskiness, has been further developed. Prospective directions for the use of innovative tools in the crypto industry, in particular, decentralized finance (DeFi), are substantiated. Practical value. Conclusions and proposals substantiated by the results of the research can be used in the process of carrying out operations with cryptocurrencies and making decisions by market subjects regarding directions and instruments for investing in crypto assets. Key words: cryptocurrencies, market capitalization, rate dynamics, price volatility, innovative technologies and tools in the crypto industry, decentralized finance (DeFi), alternative investments in crypto assets.

The purpose. The aim is to analyze the condition, structure, and dynamics of the financial sector of Ukraine, identifying key trends. It also involves determining the major problems and growth opportunities for the financial sector as a significant factor affecting the national economy. Method. The study is based on the examination of statistical and empirical data from the National Bank of Ukraine, as well as the analysis of changes in regulatory acts governing financial services. Additionally, the author reviewed expert opinions on market issues related to specific entities. Using a comprehensive approach, the author was able to formulate general trends characteristic of the market as a whole. The results. This research presents the impact of martial law on the structure and dynamics of the financial sector in Ukraine, analyzes the causes of these changes, and identifies factors influencing the financial sector of Ukraine. Scientific novelty. The scientific novelty of the article lies in exploring the relationship between military-political factors and the transformation of Ukraine's financial sector. The proposed study highlights the unique experience of the impact of military-political factors on the country’s financial system, which is relevant and significant for further research and practical applications. Practical significance. The practical significance of this article is that the research results will provide analytical information to financial institutions regarding the needs and opportunities for adapting to military-political risks. This will enable them to develop more effective risk management strategies and maintain stability in conflict conditions. Studying the impact of military-political factors on the stability of Ukraine's financial system can help identify key risks and ways to strengthen the resilience of financial institutions and national infrastructure.

The article is devoted to the discussion of actual problems of introduction of blockchain technology in banking business, the solution of which determines the prospects of wide commercialization of these innovations. Commercial banks' interest in innovation is determined by the threat of steadily declining business profitability and a new competitive threat to traditional sources of income from new fin-technologies. Despite the active development of crypto-innovations (algorithms, platforms, crypto-currencies), the use of blockchain by banks in the financial sector is still very modest. Like most of the participants in this market, banks only carefully test computer technologies for managing a distributed ledger, and therefore objective barriers hindering progress in this area are of actual interest to specialists and researchers. The application of any innovative technology in the banking business depends on the successful compliance of new opportunities and time-tested requirements of consumers in the financial sector. In particular for the technology of the blockchain, just has not fully resolved key-problems of standardization, boundary identification, security and cyber-security, reliability of execution transaction, scalability of projects, etc. Here considered the main barriers, from the author's viewpoint, of implementation of the blockchain in the banking business, confirmed by the authoritative materials of centers for innovative financial technology.

Introduction. Investment activity is a key prerequisite for the sustainable development of agricultural enterprises, since it is it that ensures the renewal of the material and technical base, the introduction of innovative technologies, increasing labour productivity and competitiveness of the agricultural sector. In the context of structural transformations of the national economy, military risks, climate change and deepening European integration processes, investments acquire a system-forming significance, performing the function of the financial and technological basis of reproductive processes and the adaptation of agricultural production to the growing instability of the external environment. Methods. General scientific and special methods were used in the research process, in particular analysis and synthesis – to generalize theoretical approaches to the investment activity of agricultural enterprises. Comparative methods, economic and statistical and were used to assess the state, dynamics and problems of investment processes in the agricultural sector. Systemic, structural and functional approaches were used to substantiate the directions of activating the investment activity of agricultural enterprises. Results. It was established that the investment activity of agricultural enterprises in Ukraine is influenced by a set of financial, risk and institutional constraints that hinder the modernization of production and the introduction of innovations. It is proven that insufficient access to long-term financial resources, high military and climate risks, as well as limited effectiveness of state support reduce investment activity and the effectiveness of reproductive processes in the agricultural sector. The feasibility of implementing a comprehensive policy of activating investment activity, which combines financial incentives, agricultural insurance, investments in digital technologies and human capital development, is substantiated. It is determined that the coordinated attraction of public, private and international investments creates the prerequisites for increasing productivity, economic sustainability and competitiveness of agricultural enterprises in the long term. Discussion. Prospects for further research should be linked to the assessment of the effectiveness of state and international support instruments for investment activities of agricultural enterprises in the context of war and post-war recovery. An important direction is the development of economic and mathematical models for investment risk management, taking into account climatic, financial and security factors. Special attention should be paid to studying the role of digital investments and investments in human capital in increasing the sustainability and competitiveness of agricultural enterprises in the long term. Keywords: investment activity, agricultural enterprises, agricultural sector, investment risks, state support, modernization of production, digital technologies, human capital, competitiveness, sustainable development, geoinformation systems, sustainable development.

The article examines the peculiarities of building marketing strategies for Generation Z in the conditions of digitalization. The main prerequisites for the transformation of society structure as a result of demographic processes are revealed. The relationship between the intensity of the introduction of innovations and the ability of new generations to quickly adapt to advanced technologies has been established. Two generations existence of younger age groups consumers, Generation Z and alpha, which in the future will occupy leading positions among consumers of the main groups of goods and services, has been determined. The main prerequisites for the transition of Generation Z certain part representatives to the working age and the formation of a solvent demand for brand products due to obtaining a sufficient level of income have been revealed. Features of interaction between companies and representatives of Generation Z, which are used to build effective marketing strategies in the digital environment, are presented. The expediency of using a personalized approach to each of this generation representatives has been determined, which contributes to the formation of a positive attitude towards the brand and provides an opportunity to establish interaction in the long term. The importance of using relevant content to form effective communications with representatives of Generation Z has been proven, primarily photo and video content. It has been established that the primary social media for engaging with Generation Z are TikTok and Instagram, as well as YouTube. The feasibility of using a digital marketing tools system to reach the maximum possible number of potential users of younger age groups has been proven. The need for constant cooperation with representatives of Generations Z and alpha is substantiated, which opens up significant prospects for brands in future periods of time due to the formation of loyalty among the consumers’ specified group. It has been established that the reorientation to the digital environment and the introduction of innovative technologies have led to the emergence of virtual influencers, who are very popular among representatives of Generation Z.

With the rapid development of global technology, the financial industry is facing unprecedented opportunities and challenges. The innovative wave of financial technology, such as blockchain, artificial intelligence and big data analysis technology, not only brings a new business model for the financial sector, but also improves the efficiency and quality of financial services. In this paper, we will discuss the development trend of fintech, technological innovation and its application in the financial industry, and explore how financial innovation can subvert the traditional financial model and have a far-reaching impact on the development of the financial industry in the future.

With the development of financial technology, the Chinese government deregulated the banking industry. The impact on traditional banks has been questioned since the first bank to operate exclusively online was established in 2014. Before (2009-2014) and after (2015-2018) the advent of online-only banking, we looked at two different time periods. During these periods, we evaluated the efficiency and performance variations among 20 banks using regression and data envelopment analysis approaches. Fintech, which stands for financial technology, is the term used to describe the use of technological innovations for the financial services sector. Applications like as mobile payments, money transfers, loans, asset management, and fundraising are all included in this. Global investment in fintech has recently increased and is predicted to continue growing because it is applicable to financial services as well as any business that deals with the financial sector. Often creative, fintech firms have the potential to upend traditional finance and spur quick innovation. Traditional financial services can be improved by using technology to make them faster and easier to access. This is known as fintech. Startups typically create these solutions with the goal of enhancing corporate and retail banking, frequently working alongside or going up against more established financial institutions. The idea and significance of financial technology, as well as how banks and financial technology businesses profit from their current collaboration, are all covered in this article.