Abstract
Abstract. In the conditions of Industry 4.0, rapid globalization, growing competition in the financial services market and the entry of powerful foreign banks, maintaining a competitive position requires adaptation to changing external challenges and consumer demands. It becomes urgent tofind innovative forms of activity, which in the digitalization period involves the implementation of information technologyin the activitiesof financial institutions. The goal of the article is to identify the main trends of digitalization in the global financial services market. Methods of comparative analysis, synthesis, systematization and scientific abstraction were used to achieve this goal. The article identifies the main benefits that financial institutions and consumers of financial services obtainfrom the use ofinformation technologies (API, BigData, blockchain, cloud computing, Artificial Intelligence, Internet of Things). The implementation of modern information technology in financial institutions allows to generate innovative products, formpersonalized offers for customers, optimize financial institutions’ costs, speed up customer services processes, improve management, reduce the cyber risks, attract new customers,and increase public trust tofinancial institutions. Emphasis is puton the necessity of development of apartnership model of interaction of financial institutions with IT-compamiesand FinTech-companies. In conclusion, the authors note that the deterrents to the digitalization of the Ukrainian financial services market are:underdeveloped legislation; lack of funding for R&Dand innovation projects; low digital literacy; outdated IT-infrastructure. Intensification of digitalization of financial institutions requires significant investments, developed innovative consciousness of management and development of information infrastructure. The authors singled out the prospects for further research,namely:the formation of effective and efficient mechanisms for protecting information systems of financial institutions from cyber attacks and information leakage
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