Financial technologies in the development of banking activities in Ukraine’s financial market

The study of financial technology applications in banking is highly relevant, as financial technologies serve as a primary driver of change in the banking sector, facilitating the development of new products, optimising operations, and expanding access to financial services. This article aimed to examine the role of financial technologies in the development of banking activities and to identify directions for their advancement through the application of modern financial technologies. The research employed methods of analysis, synthesis, systematisation, and comparison to explore the theoretical foundations of financial technology utilisation. Grouping, tabular, and graphical methods were used to assess the current state of financial technology adoption in the banking sector, alongside abstraction and generalisation techniques. In the digital era, banks must implement innovations to maintain competitiveness. The analysis of financial technology applications has made it possible to identify current trends and potential areas of implementation in the Ukrainian banking sector, as well as to adapt decision-making processes regarding their use to the realities of the Ukrainian market, ensuring more flexible financial services for clients. It has been identified that the growing popularity of digital platforms has been accompanied by an increase in cyber risks. Therefore, the study of fintech has also contributed to ensuring cybersecurity and customer trust, with the development of effective data protection strategies emerging as a key factor in the stability of the banking system. The study also reviewed academic research confirming the relevance of financial technologies in banking, analysed the nature of fintech, its types and role in the banking sector, and assessed the state of Ukraine’s fintech market. Recommendations for the development of the fintech market were proposed. The practical implementation of the recommendations provided in the study, particularly concerning the adoption of modern financial technologies such as blockchain, artificial intelligence, Big Data, and open interfaces, will enhance transparency, cybersecurity, and the adaptability of both the banking sector and the financial market of Ukraine as a whole to contemporary challenges