ОСОБЛИВОСТІ РОЗВИТКУ БАНКІВ ЯК ПАРТНЕРІВ ФІНАНСОВО ТЕХНОЛОГІЧНИХ КОМПАНІЙ

Abstract

The article analyzes cooperation between banks and financial technology companies. The advantages of using fintech are: speed and convenience, a large selection, more favorable conditions for services, more personalized products. The number of commercial banks in Ukraine in 2008–2022 was analyzed. In order to provide consumers with a variety of services, fintech needs to cooperate with banks. It was determined that the latter often have the ability to carry out certain operations that are not available to financial technology companies, for example, due to the lack of licenses. In particular, some payment services offer users the service of storing money in accounts. But in fact, these funds are stored in the bank, and the fintech service simply provides access to them. The advantages and disadvantages of financial technologies are substantiated. Here is a list of fintech companies and their hot and cold topics. The strengths and weaknesses of the fintech market in Ukraine are indicated. With the help of automated software services and the absence of costs for ensuring customer access to the banking institution, digital financial institutions have significant advantages compared to traditional banks, because their credit terms are much more interesting than those of classical banks. At the digital stage of development, the bank is no longer an intermediary, it becomes an agent that provides the client with access to accounts and operations. Communication with the banking institution is limited to the submission of appropriate commands executed in the digital technology system. The client becomes in a certain way independent, autonomous in relation to the bank. The possibility of conducting partnership relations between banks and fintech companies, and the possibility of conducting joint business without affecting the work of each, are substantiated. Among the "hot" topics, fintech providers identified: automation, electronic banking, biometric identification, machine learning and artificial intelligence, forecasting and modeling, smart contracts, chatbots, Big Data, blockchain, digitization of all registers, ISO, cyber security and safety payments, IT security, there is also an interest in open APIs.