Abstract
Introduction. Due to the total digitization of banking processes and operations, foreign and domestic banks are actively transforming their activities from the traditional format of customer service in bank branches to the remote format of providing services online. 
 Problem. Banks strive to function in the format of financial assistants available 24 hours a day. Therefore, virtual banks or neobanks which carry out their activities exclusively through remote sales channels with the help of Internet banking tools and mobile applications are actively developing. 
 The aim of the article is to study foreign trends in the development of neobanks and prospects for the development of neobanking in Ukraine. 
 Methods. The methods of theoretical generalization, analysis and synthesis, grouping, and systematic approach were used in the research process. 
 Results. The key trends in the development of neobanks in Ukraine and the world have been studied. The foreign experience of the licensing mechanism of neobanks is considered. The dynamics of the number of neobanks in the world and their geographical affiliation are analyzed. The global trend of growth in the number of clients-users of neobanks is indicated. The peculiarities of the activity of domestic neobanks have been studied. The general problems and prospects for the development of neobanks in Ukraine have been identified. 
 Conclusions. Neobanking in the world is in great demand by consumers of financial services and is interesting for investors, so the number of neobanks and their users in the world is growing at a high rate. The domestic banking sector is gradually introducing and implementing innovations in accordance with global trends in the development of banking services. Domestic neobanking gained a particularly noticeable development during the coronavirus pandemic and in the conditions of martial law. Due to the lack of a legislative initiative regarding the licensing and regulation of the activity of neobanks in Ukraine, their potential development is restrained. Currently, the development of domestic neobanks directly depends on state support for their activities, internal regulatory policy and competitive environment.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.