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RESEARCH CENTER FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS of Ukraine (KHARKIV, UKRAINE)

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ID R30-03156

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Liburkina L. M.

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Digital Transformation of Ukraine’s Financial System: Current Trends and Strategic Directions
Stoiko O. Y., Shubenko I. A., Marushchak D. M.

Stoiko, Oleh Yа., Shubenko, Inna A., and Marushchak, Denys M. (2026) “Digital Transformation of Ukraine’s Financial System: Current Trends and Strategic Directions.” Business Inform 9:745–745.

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 0

UDC 336.7:004.9(477)

Abstract:
The digitalization of Ukraine’s financial system enhances the resilience, efficiency, and accessibility of financial services; however, it is taking place amid martial law, escalating cyber threats, technological dependence, and regulatory gaps. At the same time, the interrelationship among the components of digital transformation and the strategic guidelines for its development require a comprehensive analysis. The aim of this article is to examine the theoretical foundations of the digitalization of Ukraine’s financial system, identify trends, opportunities, and risks associated with digital transformation, and substantiate strategic directions for its development amid wartime challenges and reconstruction. The study employs general scientific and specialized methods: analysis and synthesis, system and structural-functional approaches, comparative analysis, generalization and systematization, and statistical methods. It has been found that digitalization promotes the efficiency and transparency of the financial system, as well as the development of FinTech, electronic payments, digital government services, and financial inclusion. At the same time, it is accompanied by cyber threats, technological dependence, infrastructure instability, regulatory gaps, and uneven digital accessibility. Strategic guidelines for the digital development of Ukraine’s financial system through 2030 are substantiated, including the development of cashless payments, Open Banking, the e-hryvnia, the digitalization of public finances, financial inclusion, and the strengthening of cyber resilience. It is proposed to ensure that more than 95% of transactions are conducted electronically and that banks are fully prepared to exchange data via APIs. The scientific novelty lies in the development of a comprehensive approach to understanding the digitalization of the financial system as a systemic transformational process, the clarification of priority areas for its development, the substantiation of strategic guidelines through 2030, and the development of the authors’ model of the digital transformation of Ukraine’s financial system in the context of war and postwar recovery. The research findings, strategic guidelines, and the authors’ model will help government authorities and market participants enhance the country’s financial stability, strengthen cybersecurity, expand financial inclusion, and ensure digital support for Ukraine’s postwar recovery.

Keywords: digitalization; financial system; digital transformation; FinTech; Open Banking; e-hryvnia; cybersecurity; financial inclusion.

Fig.: 1. Tabl.: 8. Bibl.: 41.

Stoiko Oleh Yа. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance and Credit, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]
Shubenko Inna A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance and Credit, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]
Marushchak Denys M. – Student, Faculty of Information Technology, Accounting, and Finance, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]

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