РОЗВИТОК ФІНТЕХУ В УКРАЇНІ ТА ЙОГО ПРОГНОЗУВАННЯ НА ПРИКЛАДІ ІНДУСТРІЇ ПЛАТІЖНИХ ПОСЛУГ

Abstract

The article examines the prerequisites for accelerating the development of fintech in Ukraine and in the world. Based on the definition of a fintech company as an organization working in the field of financial technology and using new business process models, it is reasoned that the value it offers to consumers is based on the use of information technology that has emerged during the active spread of the Internet. Ukrainian fintech market analysis demonstrates that there are no global companies in the Ukrainian domestic market. This is the result of its level of development and weak integration of Ukraine into the global financial market, as well as corruption, the uncertainty of the industry status, and relative poverty, which makes our country unprofitable for investment and infrastructure deployment of foreign fintech companies. Particular attention is paid to the market of payment services as a priority area of fintech companies. The structure of the payment services market in terms of the participating companies is described and its competitive parameters are determined. Despite the formal monopoly, in practice the market for services is competitive, industry leaders do not pursue aggressive competition policies. A comparative analysis of the fintech services and banking services markets dynamics in the field of payments is conducted by comparing the financial results of activities. The fintech companies’ gross aggregate profit growth forecast and their main competitor among banks in the field of payments are constructed. Based on optimistic, pessimistic, and realistic options, the time interval of income convergence of leading competitors in the payment services market is determined. The preconditions for changing the competitive situation in the field of payments are determined. The conducted analysis demonstrates that while maintaining the current trends, fintech companies as a generalized force will be able to become a powerful player in the payments market no earlier than 2028. Banks have up to ten years to adapt and adopt new rules of the game. Competition with fintech companies requires significant adjustments to banks' business strategies.