FINTECH TRANSFORMATIONS AND THEIR IMPACT ON THE SUSTAINABILITY OF FINANCIAL MARKETS AND INSTITUTIONS IN UKRAINE IN THE CORPORATE CULTURE ECOSYSTEM

Abstract

The article discusses the development of the FinTech industry as a defining feature of the current stage development of the banking sector of the economy. The specifics of FinTech work as a branch of the economy have been determined. A number of risks of introducing FinTech innovations in banks and the prospects for overcoming these risks have been identified. Analyzed the scale of investment flows in FinTech firms by areas of activity. The influence on the FinTech industry of such factors as the legislative base, consumer demand for FinTech services and the economic situation in the country, on the basis of which a number of problems have been identified improving the FinTech industry in Ukraine. The ways to overcome them are highlighted. The necessity of interaction between FinTech firms and the banking sector of the economy has been substantiated. Possible directions for the development of partnerships between FinTech companies and traditional banks are highlighted. It is substantiated that the development of fintech business in Ukraine should be carried out not in competition with commercial banks, but in the use of mutually beneficial cooperation options. The development of the FinTech industry requires access to depersonalized big data for depositors and stock market participants. There is also a need for a more flexible approach to regulating the activities of startups working in this direction, to reduce the burden on young developing companies, to provide them with preferential terms. A large number of financial services became available in just a couple of clicks. "The pandemic has led to the accelerated digitalization of many banking processes and services. A clear trend that will continue in 2021 is the digitalization of the card line," the main driver of FinTech's market development is a strong technical and mathematical educational base. A mature corporate culture, on which the country has been working for many years, has allowed us to successfully pass the pandemic period. We maintained a high level of communication, continued to develop motivation even under limited conditions. For the implementation of the anti-crisis communication campaign for employees of IT companies and the promotion of the principles of digitalization, we managed to inform citizens during the first wave, we constantly talked about what is happening, security measures, prospects. In general, over the last two years, the level of corporate culture, motivation system, external positioning of HR-brand and FinTech technologies has grown many times over.