Шляхи покращення взаємодії банків та фінтех-компаній в Україні на основі зарубіжного досвіду

Abstract

The article is aimed at distinguishing the main advantages of partnership between banking institutions and fintech companies and highlight the main ways to improve such interaction. Recently, the number of banks cooperating with fintech startups has been constantly increasing. An important role here was played by the introduction of modern financial technologies, which contributed to the transition of banks to the digitalization of activities. The article proposes a conceptual scheme of innovative interaction between banks and fintech companies. The purpose of this interaction is the introduction of innovative financial instruments, which will improve the quantitative and qualitative composition of banking services and provide commercial banks with competitive advantages. The main advantages of integration of banking institutions and fintech companies are distinguished, including: comfort of receiving banking services; acceleration of work speed; expansion of activities without increasing the network of branches; gradual transition from offline banking to Internet and mobile banking; reducing the bank’s expenses and increasing its economic efficiency; increase in sales; income growth; complex competitive advantages in the long run. Emphasis is placed on the fact that the result of cooperation between banks and fintech startups is to create new products and services or products and services with updated characteristics, which are represented by: innovative programs and projects; novel intellectual products; modern new technological equipment and processes; new approaches to the development and formation of the market of modern banking products and services. On the basis of foreign experience, the main innovative financial instruments in the directions of fintech have been summarized, the introduction of which into the activities of domestic banks will allow banking institutions to reach a higher level of competitiveness in the world financial markets. Prospects for further research are to distinguish the major reasons that hinder the effective implementation of digitalization trends in the activities of banking institutions.