Financial inclusion as an indicator of national security

Abstract

The prerequisites for forming national security based on the creation and use of financial inclusion are studied. The essence of the concept of financial inclusion as a component of national security is defined. The expediency of its implementation for all segments of the population is substantiated. It is emphasized that financial inclusion is one of the five directions of the Strategy for the Development of the Financial Sector of Ukraine until 2025 and has specific strategic goals and performance indicators that are related to the level of public confidence in the financial system, the level of financial literacy of the population, and is reflected through the ratio of non-cash card transactions (including P2P) to the total number of transactions and the ratio of cash to GDP. An analysis of the indicators of the level of financial inclusion, which forms the basis of the Strategy for the Development of Ukraine's Financial Sector until 2025, shows that the current values of the indicators do not correspond to their target values. The carried-out analysis made proposing options for developing financial inclusion possible, considering its strategic vectors. In dynamics, the level of public awareness of the use of financial products in Ukraine and other countries worldwide is analyzed. A forecast of the use of financial products by number and type for 2023 – 2024 is made. Positive changes in awareness of financial products in Ukraine have been noted. The expediency and necessity of applying financial inclusion to ensure national security are substantiated. It is noted that the issue of financial inclusion has become especially relevant in the context of the Russian-Ukrainian war. The Top 4 financial products in terms of recognition in the context of age groups are analyzed, and the difference by age categories is reflected. The methods of applying financial inclusion are allocated, and the main aspects that affect it are identified. The main aspects of the information platform on the National Bank of Ukraine website, which is the formation and development of financial literacy among all strata and age categories, are studied. It is noted that financial literacy measures, which the National Bank of Ukraine initiated, require the support of partners. Keywords: financial inclusion, financial service, financial product, financial literacy, protection of user rights, National Bank of Ukraine.