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Global Trends in the Digitalization of the Financial Services Market
Рopelo O. V., Kholiavko N. I., Tarasenko A. V.

Рopelo, Olha V., Kholiavko, Nataliia I., and Tarasenko, Artem V. (2022) “Global Trends in the Digitalization of the Financial Services Market.” Business Inform 4:58–64.
https://doi.org/10.32983/2222-4459-2022-4-58-64

Section: Information Technologies in the Economy

Article is written in Ukrainian
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UDC 330.567.2[336.76:004]

Abstract:
The study is concerned with the global trends in the digitalization of the financial services market. The article distinguishes and describes the main components of accelerating the growth rate of information changes in the field of financial services on the basis of digitalization. Upon the understanding that the digitalization process is progressive, its evolution is examined, wherein three stages of its development are allocated. Leading factors in the development of digitalization of the financial services market are identified, among which, first of all, should be noted such ones as increasing the level of investment in the development of financial technologies and innovations, the spread of e-commerce based on the use of cashless payments, the transition to services aimed at customer needs, and increasing the level of financial inclusion, etc. The consequences of digitalization of the financial services market are also formulated: computerization of structural components of the financial services market and the formation of its financial digital space; directedness of financial activities towards use of the latest digital technologies; creation of the main elements of informatization of the infrastructure of the financial services market and others. On the basis of finding out the impact on the financial services market of innovative and information technologies related to the global network, the global leading tendencies in its digitalization are formed. It is proved that digitalization is a modern direction of formation and development of the insurance services market, which includes technological innovations in combination with information and communication systems, which further serves to improve the quality of service for both existing and potential consumers of financial institutions. It is determined that the formation of a real digital society and the latest digital space, based on the use of various digital technologies, are the main factors that positively affect the development of digitalization in the financial services market.

Keywords: digitalization, financial services market, trends, financial sector, financial institutions.

Fig.: 3. Bibl.: 16.

Рopelo Olha V. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Management and Administration, National University «Chernihiv Polytechnic» (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: [email protected]
Kholiavko Nataliia I. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Banking and Insurance, National University «Chernihiv Polytechnic» (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: [email protected]
Tarasenko Artem V. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Finance, Banking and Insurance, National University «Chernihiv Polytechnic» (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: [email protected]

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