IDEAS home Printed from https://ideas.repec.org/a/cve/innsjn/v5y2025i2p30-41.html

The dynamics of digital banking services implementation in Ukraine: Quantitative analysis based on open data from the National Bank of Ukraine and banking reports (2019-2024)

Author

Listed:
  • Vitaliy Lutsenko

Abstract

The aim of this study was to identify trends in the use of digital banking services in Ukraine based on a quantitative analysis of open statistical data for the period 2019-2024. The research methodology was based on the collection and processing of empirical indicators, in particular: the volume of cashless transactions, the share of transactions by amount and number, the average cheque, the structure of transactions (transfers, purchases, withdrawals), the number of mobile banking users, the digital literacy of the population, and the volume of banks’ investments in information technology. Data on cybersecurity spending and the dynamics of digital service channels were studied separately. As a result, it was found that the share of cashless transactions increased from 50% in 2019 to 64.5% in 2024 in terms of amount, and from 80% to 94.6% in terms of number. The number of mobile users increased more than fourfold: from 5.9 million to over 25 million people. It was also noted that over 76% of citizens made daily payments via mobile applications, and the share of contactless transactions reached 94.9%. It was determined that banks invested up to 10% of their operating expenses in the development of information technology, and the cybersecurity market reached USD 138 million in 2024, which is 70% more than in 2023. Significant differences in digital transformation were found depending on the form of ownership of the bank. State-owned banks had the highest profitability indicators, while foreign banks had the highest level of trust. The study proved that digitalisation contributed to increased efficiency, reduced costs and supported the financial stability of banks during the period of martial law. The practical significance of the study lies in the possibility of using its results to form effective strategies for the digital transformation of banks and improve state policy in the field of financial inclusion in the context of crisis challenges

Suggested Citation

  • Vitaliy Lutsenko, 2025. "The dynamics of digital banking services implementation in Ukraine: Quantitative analysis based on open data from the National Bank of Ukraine and banking reports (2019-2024)," Innovation and Sustainability Articles, Innovation and Sustainability, vol. 5(2), pages 30-41, June.
    • Handle: RePEc:cve:innsjn:v:5:y:2025:i:2:p:30-41
    DOI: https://doi.org/10.31649/vis/2.2025.30
    as

    Download full text from publisher

    File URL: https://inns.vn.ua/web/uploads/pdf/InnovationandSustainability,Volume5,No.2,2025,30-41.pdf
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.31649/vis/2.2025.30?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cve:innsjn:v:5:y:2025:i:2:p:30-41. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Innovation and Sustainability (email available below). General contact details of provider: https://inns.vn.ua/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.