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Methodological research of financial sector digital transformation trends in banking

Author

Listed:
  • Oleksandra Mandych

    (State Biotechnological University)

  • Jacek Skudlarski

    (Warsaw University of Life Sciences)

  • Natalia Babko

    (State Biotechnological University)

  • Оksana Blуznіuk

    (State Biotechnological University)

  • Halyna Lysak

    (State Biotechnological University)

  • Olena Kot

    (State Biotechnological University)

Abstract

The article analyzes the current problems of the financial sector within the framework digital transformation and the gradual transition to digital service financial transactions. The object of research is the Ukrainian financial banking sector, the peculiarities of which functioning at this stage crisis economy Ukraine require finding adaptation ways for the introduction digital transformation procedures. The subject is financial relations in the digital adaptation sphere and innovative development banking through the prism involvement of tools and information technologies in financial system, in general, and financial operations and procedures, in particular.The problems domestic financial sector transformation became more acute in connection with the mass transition to remote channels interaction with clients, first due to the restrictions that were applied as a result the COVID-19 pandemic, and then due to the armed aggression of russia to Ukraine. The research methodology is based on a comprehensive assessment dynamic changes in the financial environment and the creation a basis for modeling predictive scenarios and strategies based on the study existing situation, theoretical basis development and financial and banking sector development directions for effective interaction in Ukrainian economy conditions. The Ukrainian banking system trends changes are outlined. The peculiarities of the international development financial and banking sphere are defined, a comparison with the world experience is outlined, analytical studies best global cases are carried out for the possibility introducing the results to the Ukrainian financial space. The research results about digital capabilities banking sphere in Ukraine are presented, the essential content banking, the properties system, the peculiarities building a banking digital architecture and architectonics through the prism of components and tools for a banking strategy model are presented. Attention is paid to the innovative development of the banking sector and directions for attracting investment resources. Procedures for creating digital opportunities transition financial sector and reengineering business processes for companies when transitioning to a digital format commercial activity have been worked out, that will be of theoretical and applied importance for further research by scientists from different countries. The authors offer recommendations to solving the digitization problems of the Ukrainian financial sector. The research results of the digital transformation direction in banking sector are presented for further use in modeling Ukrainian`s business post-war recovery scenarios.

Suggested Citation

  • Oleksandra Mandych & Jacek Skudlarski & Natalia Babko & Оksana Blуznіuk & Halyna Lysak & Olena Kot, 2023. "Methodological research of financial sector digital transformation trends in banking," Technology audit and production reserves, PC TECHNOLOGY CENTER, vol. 2(4(70)), pages 10-14, April.
  • Handle: RePEc:baq:taprar:v:2:y:2023:i:4:p:10-14
    DOI: 10.15587/2706-5448.2023.276408
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