Інноваційні технології у фінансовій сфері: узагальнення світового досвіду

Abstract

The introduction of innovations makes it possible to ensure a stable economic situation for the business entity – both at the level of the national financial sector and in the international financial services market. The spread of financial technologies in the world continues to evolve through the emergence of new products and services. Despite different approaches to the development of enterprises and organizations in the financial sector, the common features remain the desire for innovation, ensuring the security of the financial system and protecting consumers. The contemporary tendency towards the introduction of flexible models of response to changes in the economic environment is one of the major strategies for creating favorable conditions for the development of innovative technologies in the financial sector. The aim of the publication consists in a theoretical generalization of the international experience in the implementation of financial innovations and to develop recommendations for its implementation in domestic practice. Financial innovation technologies are an important component of the development of the national economy of Ukraine. Our country has significant potential for the development of financial technologies, but its regulatory framework still needs significant changes to create a favorable environment for innovation. Unlike the UK or the EU, where regulations are aimed at accelerating the introduction of financial technologies, in Ukraine this process is just beginning. The article analyzes the international experience in the introduction of innovative technologies in the financial sector. The experience of fintech innovations in the USA, Great Britain, China, Singapore, South Korea is considered, the features of implementation and the possibility of their adaptation to activities of the business entities in Ukraine are determined. The existing regulatory obstacles to the possibilities of generation of fintech startups in Ukraine are identified. The National Bank of Ukraine (NBU), which is the key regulator of the national financial sector, is gradually introducing new rules and conditions for the development of financial technologies. However, at present, the limited legal framework for cryptocurrencies, blockchain technologies and other innovative solutions remains a problem, which hinders the development of such instruments. An analysis of the experience of implementing innovative technologies in the leading countries of the world proves that Ukraine already has a fairly flexible regulatory system, which creates potential advantages for the generation of financial startups, but at the same time there are certain risks of an imperfect regulatory system.