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Improving the Marketing Communications of Bank in the Context of Digital Transformation
Mayovets Y. Y., Sokhetska A. V.

Mayovets, Yevgen Yo., and Sokhetska, Anna V. (2021) “Improving the Marketing Communications of Bank in the Context of Digital Transformation.” Business Inform 3:242–247.
https://doi.org/10.32983/2222-4459-2021-3-242-247

Section: Management and Marketing

UDC 336.711

Abstract:
The article reflects the current trends of digital transformation in the banking sector of Ukraine, due to the introduction of new marketing channels. Banking services in Ukraine and around the world are rapidly changing under the influence of information technologies, which requires the introduction of new standards and communication channels. Traditional marketing communications in banking institutions were based on a number of marketing instruments, namely: advertising, direct marketing, branding, PR activities, publicity, stimulating the sales, loyalty programs, sponsorship, personal sales, presentations of products. Recognition of «digital transformation» by various analytical institutions reflects its role in scaling information processes, increasing economic efficiency and integrating the business processes of different participants on a single open platform. The digital transformation of organizations includes the following stages: digital beginners, digital subscribers, digital innovators, and digital leaders. In Ukraine, the evolution of digital transformation is based on the Fintech Development Strategy in Ukraine until 2025, developed by the NBU. The latter includes the expansion of digital technologies and their integration on open platforms, as well as the use of built-in financing. The article specifies that, despite all the advantages of digital transformation, the banking sector was one of the first to face financial fraud through online communication channels (Viber, WhatsApp, etc.), when the consumer is attacked in an aggressive manner, demanding personal data of bank cards. Such risks require receiving feedback from the client in order to promptly solve the problems of personal data leak and, if necessary, block the client’s card. In the process of evolution, new levels of digital platforms are being formed, which allow not only customers and staff of banks to connect to them, but also providers of various solutions through the BaaS model. Marketing communications provide for the education of financial literacy in customers and the formation of feedback by quickly responding to complaints.

Keywords: digital transformation, digital leaders, digital innovators, digital subscribers, digital novices, fintech ecosystem, built-in financing, financial literacy.

Fig.: 2. Bibl.: 9.

Mayovets Yevgen Yo. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Marketing, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Sokhetska Anna V. – Candidate of Sciences (Economics), Associate Professor, Department of Marketing, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)

List of references in article

“Stratehiia rozvytku fintekhu v Ukraini do 2025 roku“ [Strategy for the Development of Fintech in Ukraine until 2025]. Natsionalnyi bank Ukrainy. 2020. https://bank.gov.ua/ua/news/all/strategiya-rozvitku-fintehu-v-ukrayini-do-2025-roku--kurs-na-staliy-rozvitok-innovatsiy-keshles-ta-finansovu-gramotnist
“Digital Transformation: A Road-Map for Billion-Dollar Organizations“. Capgemini Consulting, 2011. https://www.capgemini.com/wp-content/uploads/2017/07/Digital_Transformation__A_Road-Map_for_Billion-Dollar_Organizations.pdf
Bradley, J. et al. “Digital Vortex. How Digital Disruption Is Redefining Industries“. Global Center for Digital Business Transformation. June 2015. https://www.cisco.com/c/dam/en/us/solutions/collateral/industry-solutions/digital-vortex-report.pdf
Geissbauer, R. et al. “Global Digital Operations Study 2018. Digital Champions. How industry leaders build integrated operations ecosystems to deliver end-to-end customer solutions“. Strategy&Pwc, 2019. https://www.strategyand.pwc.com/gx/en/insights/industry4-0/global-digital-operations-study-digital-champions.pdf
Karpishchenko, O. O., and Lohinova, Yu. E. “Tsyfrovyi marketynh yak innovatsiinyi instrument komunikatsii“ [Digital Marketing as an Innovative Communication Tool]. Ekonomichni problemy staloho rozvytku, vol. 5. Sumy: SumDU, 2012. 177-178.
Kovalenko, V. V. “Marketynhovi bankivski komunikatsii v umovakh tsyfrovizatsii ekonomiky Ukrainy“ [Marketing Banking Communications in the Conditions of Digitalization of Economy of Ukraine]. Modern Economics, no. 21 (2020): 115-121. DOI: https://doi.org/10.31521/modecon.V21(2020)-18
Mishchenko, V., Krylova, V., and Nikonova, M. “Komunikatsiina polityka Tsentralnoho banku“ [Central Bank Communication Policy]. Visnyk Natsionalnoho banku Ukrainy, no. 1 (2015): 6-10.
Chubukova, O., and Martsynovskyi, V. “Intehrovani marketynhovi komunikatsii: aktualni pytannia teorii“ [Integrated Marketing Communications: Relevant Questions of the Theory]. Formuvannia rynkovykh vidnosyn v Ukraini, no. 6 (2019): 67-72.
“Doslidzhennia praktyk roboty bankiv zi skarhamy spozhyvachiv bankivskykh posluh. Zvit za rezultatamy doslidzhennia praktyk roboty bankiv zi skarhamy spozhyvachiv“ [Research of Practices of Work of Banks with Complaints of Consumers of Banking Services. Report on the Results of a Study of the Practices of Banks with Consumer Complaints]. Kyiv, 2020. http://www.fst-ua.info/ua/doslidzhennya-praktyk-roboty-bankiv-zi-skarhamy-spozhyvachiv-bankivs-kykh-posluh-zvit-za-rezul-tatamy-doslidzhennya-praktyk-roboty-bankiv-zi-skarhamy-spozhyvachiv/

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