ІННОВАЦІЙНО-ІНФОРМАЦІЙНІ ТЕХНОЛОГІЇ В ДІЯЛЬНОСТІ ФІНАНСОВИХ УСТАНОВ: СВІТОВИЙ ДОСВІД

Abstract

Modern innovation and information processes require the formation of an innovative strategy to respond to new trends in digital development. This is due to growing competition from both financial institutions and high-tech companies and startups FinTech which with their innovative solutions seek to become leaders in highly profitable segments of the banking sector. The purpose of the article is to analyze foreign experience in the development of innovative information technologies in the financial services market. The article analyzes the areas of use of information technology in the work of financial institutions. The essential characteristics of financial innovations are presented. The experience of leading countries in the introduction of innovative and information technologies in the work of financial institutions is analyzed. The study found that the world leaders in the pace of implementation of information technology in the work of financial institutions are China, the United States, Germany, India, Singapore and the United Kingdom. The development of the FinTech industry depends on the factors of efficiency and optimality of state regulation, the availability of highly qualified experienced specialists in the field of information technology, the development of financial infrastructure, the level of household confidence in banks and the ability of financial institutions to attract investment resources. The introduction of innovative information technologies allows financial institutions to organize quality customer service, increase the degree of its personalization, and make processes more transparent, fast and reliable. This, in turn, helps to increase the level of trust of stakeholders and competitiveness in the financial services market. At the same time, the use of information technology by financial institutions may be accompanied by risks of cyberattacks, leakage of personal data of customers, as well as technological and reputational risks. The experience of the countries and individual banks analyzed in the article can be useful for Ukraine, in particular in the implementation of cloud technologies, artificial intelligence, big data analytics, Blockchain technology in the activities of domestic financial institutions.