THE DEVELOPMENT OF DIGITAL TECHNOLOGIES IN THE UKRAINIAN FINANCIAL SERVICES MARKET IN THE PERIOD OF MARTIAL LAW
Abstract
The article is devoted to the development of FinTech and its influence on the market of financial services of Ukraine in the conditions of martial law. The issue of the essence of digitization and the advantages of its popularization in the market of financial services is highlighted, the main consequences and results of the introduction of digital technologies in the market of financial services of Ukraine are outlined. The most important innovations that can be implemented in the activities of financial institutions in order to digitize the process of providing services are summarized, namely: blockchain technology, which will ensure decentralization of information, general access to it, strengthening of data security, transparency of transactions, automation of a large number of processes, etc.; crowdfunding, the introduction of which will enable companies to offer their clients a kind of investment activity; sharing technology – opens up new opportunities for companies operating in the financial services market. An example of the development of sharing in Ukraine is the introduction of the "Diya" application, which works on the principle of information sharing; artificial intelligence is being actively implemented in insurance companies, it is becoming one of the main innovations that allows to increase the level of security for specialists in the financial services market and transfer certain of their duties to remote performance; cloud technologies, the implementation of which ensures flexibility, global scalability and reliability. It is proved and substantiated that the use of cloud technologies became especially relevant during the introduction of wartime in the state. In the article, the authors also investigated the ways in which they can be implemented in the activity of the financial market. The main advantages that clients and financial institutions will receive from the application of these innovations are highlighted. It is proven that the development of FinTech in the financial services market will raise it to a new level, open new opportunities and simplify the interaction of the company with the consumer. Further directions for improving the process of providing financial services with elements of digital technologies are proposed.
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