Information technologies in finance: The impact of fintech services on traditional banks

In the context of rapid development of digital technologies, the financial sector is undergoing significant transformations under the influence of financial technologies (fintech), which are becoming a driver of innovation in the banking sector. The aim of the study was to investigate the role of fintech in the digital transformation of the banking sector and the peculiarities of its impact on the interaction between fintech companies and traditional banks. To achieve this goal, the methods of scientific abstraction, structural decomposition analysis, synthesis, logical generalisation, as well as content-comparative and logical-prognostic methods were used. The results of the study showed that fintech services are significantly transforming the financial market, increasing the accessibility, speed and personalisation of services. In Ukraine, the growth in deposits after the banking crisis is associated with the development of mobile banking and the emergence of neobanks, in particular Monobank. It has been established that the digitalisation of banking services has contributed to the reorientation of customers towards current accounts and non-cash transactions. Fintech companies have become an important factor in increasing competition in the short-term lending segment, which has encouraged banks to reduce application processing times and introduce scoring systems. Despite this, banks remain dominant in the field of long-term loans, including mortgages. An analysis of international experience (USA, EU, China) has shown that the most effective development model is a combination of competition and cooperation between banks and fintechs. In Ukraine, a symbiotic model is taking hold, where fintechs and banks cooperate through APIs, joint products and platforms. The results showed that the introduction of fintech solutions did not displace banks, but rather accelerated their digital transformation and contributed to an increase in public confidence in the financial system. The practical value of the work lies in the formulation of recommendations for the integration of fintech solutions into banking processes, which will contribute to improving the efficiency of financial services and the development of the digital economy. The reported results can serve as a basis for further research in the field of digital innovation in the financial sector