Conceptual Provisions of Research Transformations of Financial Behavior of Households in the Conditions of Digitalization of the Financial Services Market

Dubyna, Maksym; Kholiavko, Nataliіa; Popelo, Olha; Тарасенко, А. В.

doi:10.32843/infrastruct62-28

Cited by 12 publications

(12 citation statements)

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“…The obtained results can be used by state regulators of the financial market in order to monitor the economic security of banks and non-bank financial institutions and further identify destructive mechanisms implemented by the heads of these institutions. Dubyna et al (2021) also note the special role of digitalization in financial inclusion of the population, as well as the impact of these processes on the transformation of financial services. Kozmenko and Belova (2015) proved the importance of creating systemically important banks as a priority in the formation of stabilization measures for the country's economy taking into account the fact that in Ukraine it is the banking sector that forms the biggest share of the financial market.…”

Section: Literature Reviewmentioning

confidence: 98%

The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors

Shkolnyk

Фролов

Orlov³

et al. 2022

Investment Management and Financial Innovations

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The military actions in Ukraine have actualized the transformation and revision of existing approaches to assessing the country’s economic security. Financial security, which is considered in this paper through its standard components such as financial sector security, stock market security, debt and budget security, has a significant effect on the formation of economic security. At the same time, digitalization in the financial sector was identified as a new component that provides access to financial resources even in the context of the deployment of hostilities in Ukraine. Therefore, this study assessed the effect of the state of financial security, taking into account the importance of financial digitalization for the economic security of Ukraine. Based on quarterly data for the period 2015–2021, 42 indicators were analyzed, which were grouped according to the relevant components of financial security, and their integral indicators were determined using the Harrington method. A factor analysis of the formation of economic security was carried out using the principal components analysis, and an integral indicator of a country’s economic security was calculated based on the Kinney multiplicative convolution. The integral indicator of economic security for 2025–2021 doubled and amounted to 0.63 units, which was due to the increased influence of financial digitalization processes, all other components either slowly decreased or were stable. Thus, the reserve of economic security that was formed during this period, including due to the intensive digitalization of the financial sector, allowed Ukraine to survive the first weeks of the war and ensure the functioning of the financial system. Acknowledgment Comments from the Editor and anonymous referees have been gratefully acknowledged. Inna Shkolnyk and Yevhenii Kozmenko gratefully acknowledge financial support from the Ministry of Education and Science of Ukraine (0122U000774 “Digitalization and transparency of public, corporate and personal finance: the impact on innovation development and national security”).

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Section: Literature Reviewmentioning

confidence: 98%

The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors

Shkolnyk

Фролов

Orlov³

et al. 2022

Investment Management and Financial Innovations

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“…Today, digitalization processes are gaining significant development and are gradually penetrating all sectors of economy and public life. In general, the vast majority of research focuses on the impact of digitalization on the global financial services market [34][35][36][37][38][39][40]. The study of the model of functioning of the financial services market in its separate segments: deposit, credit, insurance and investment showed an important role of banking institutions in the economic development of countries [41].…”

Section: Literature Reviewmentioning

confidence: 99%

The Role of Digital Technologies in the Transformation of Regional Models of Households’ Financial Behavior in the Conditions of the National Innovative Economy Development

Zhavoronok¹,

Popelo²,

Shchur³

et al. 2022

ISI

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Households play one of the key roles in the development of the financial system of any country and the national economy in general. It is the understanding of the behavior of these economic entities in the market of financial services that makes it possible to predict the development of such a market, to understand the mechanisms of the emergence of dissipative processes in the interaction of households and financial institutions, which can form crisis phenomena in the development of such a system and restrain the innovative development of the national economy. This determines the importance and relevance of further research in this direction. Within the article, the impact of modern digital technologies on the development of financial services, in particular financial behavior of households, in the conditions of the formation and active development of the innovative economy is considered. Significant attention is paid to the specification of the methodology for determining the impact of the digitization index and the index of the model transformation of financial behavior of households. It is established that the outlined models are specific and different between various regions in any country. That is why the above method of calculation was used on the example of Ukraine. As a result, information was obtained on the digitalization index, and the transformation index of the financial behavior model of households in twenty-four regions of Ukraine. Based on the use of econometric analysis, algebraic equations of the dependence of the transformation index of the model of financial behavior of households on the digital technologies development in each of the outlined regions were determined.

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“…The dynamics and methods of implementing advanced solutions based on digital technologies are described in Akimenko and Mamontenko (2021). Dubyna et al (2021) and Druszcz (2017) investigated the behavior of households in terms of their credit and other activities in response to the digitalization of financial services markets. At the same time, these solutions, to some extent, cannot be implemented without the readiness of the consumer market to accept them (Dyba & Garnego, 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

Improving customer relations in the banking sector of Ukraine through the development of priority digital banking products and services: Evidence from Poland

Prokopenko¹,

Zholamanova

Mazurenko

et al. 2022

Banks and Bank Systems

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The emergence of new players – fintech companies, neobanks and non-banking companies – changes the structure of competition in the banking sector, reduces the profitability of traditional banking activities, and therefore forces banks to look for new sources of income. The paper deals with the issue of improving relations with clients in the banking sector of Ukraine, which is proposed to be implemented through the development of priority digital banking products and services. The study used a survey method using a statistical apparatus of a small unique sample, the degree of representativeness of which was assessed using the Student’s test. Slightly higher, closer to the level that characterizes the significant impact on the client’s perception of the whole complex of digital activities in the case of Polish banks (3.81, with a maximum possible score of 5.0) than Ukrainian banks (3.75), which indicates greater involvement and willingness to accept the digitalization of the people of Poland. Generally, banks in both countries are recommended to use a customer-oriented approach in forming product policy using digital products and services, which should be implemented and developed in practice in specific areas identified during customer surveys.

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Conceptual Provisions of Research Transformations of Financial Behavior of Households in the Conditions of Digitalization of the Financial Services Market

Cited by 12 publications

References 0 publications

The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors

The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors

The Role of Digital Technologies in the Transformation of Regional Models of Households’ Financial Behavior in the Conditions of the National Innovative Economy Development

Improving customer relations in the banking sector of Ukraine through the development of priority digital banking products and services: Evidence from Poland

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