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The Current State and Prospects of Banking Innovations in the Context of Improving the Quality of Customer Service
Volokhata V. Y.

Volokhata, Viktoriia Ye. (2021) “The Current State and Prospects of Banking Innovations in the Context of Improving the Quality of Customer Service.” Business Inform 4:204–209.
https://doi.org/10.32983/2222-4459-2021-4-204-209

Section: Finance, Money Circulation and Credit

UDC 336.71

Abstract:
In the context of globalization of the unstable situation in the financial market, the coronavirus pandemic, strengthened interbank competition, lack of financial resources and increasing their value, raising standards by the National Bank of Ukraine, it is imperative to improve the banking business management system by introducing innovations in the form of the use of new technologies that are adequate in view of development strategies and new banking products. That is why innovative development becomes the driving force of the efficiency of the banking sector’s activity. The article is aimed at evaluating the current state of innovative banking technologies and prospects for their development in Ukraine in the context of improving the quality of customer service. Priority directions of innovations for effective development of banking institutions and ways of their solution are defined. When analyzing trends in innovative activities of domestic banks, the major ones are identified. The most popular innovative products in the domestic banking market are listed and their characterizations are provided. A detailed analysis of normative and legislative acts is carried out, determining the prospects for the development of innovations in the banking sector in the near future and by 2025, such as: FinTech development strategy 2025; electronic payment system at the National Bank (EFT) in the 23/7 regime; service of sharing of digital documents; procedure for using a digital handwritten signature; creation and use of QR codes for credit transfers and when paying for goods and services; change of remote identification and verification of bank customers, etc.

Keywords: banking innovations, FinTech 2025 development strategy, 23/7 EFT, QR codes, digital signature.

Tabl.: 1. Bibl.: 15.

Volokhata Viktoriia Ye. – Candidate of Sciences (Economics), Senior Lecturer, Department of Banking and Financial Technologies, Educational and Scientific Institute «Karazin Banking Institute» of V. N. Karazin Kharkiv National University (55 Peremohy Ave., Kharkiv, 61174, Ukraine)
Email: [email protected]

List of references in article

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Klyoba, L. H. “Otsiniuvannia rivnia innovatsiinosti bankivskykh produktiv i posluh“ [Evaluation of Innovative Banking Products and Services]. Efektyvna ekonomika. 2016. http://www.economy.nayka.com.ua/?op=1&z=5024
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“Rozshyreno mozhlyvosti zastosuvannia tsyfrovoho vlasnoruchnoho pidpysu v bankakh“ [The Possibilities of Using Digital Handwritten Signatures in Banks Have Been Expanded]. Ofitsiinyi sait NBU. July 31, 2020. https://bank.gov.ua/ua/news/all/rozshireno-mojlivosti-zastosuvannya-tsifrovogo-vlasnoruchnogo-pidpisu-v-bankah
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“QR-kody dlia zdiisnennia kredytovykh perekaziv sprostiat ta pryshvydshat rozrakhunky“ [ENGLISH_UA QR-codes for Credit Transfers Will Simplify and Speed Up Payments]. Ofitsiinyi sait NBU. June 02, 2020. https://bank.gov.ua/ua/news/all/qr-kodi-dlya-zdiysnennya-kreditovih-perekaziv-sprostyat-ta-prishvidshat-rozrahunki

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