THE PARADIGM OF FORMATION OF FINTECH ECOSYSTEM IN UKRAINE: EDUCATIONAL-SCIENTIFIC POTENTIAL AND BUSINESS RESILIENCE IN THE CONDITIONS OF WAR

Abstract

Globalization, digitization processes, and challenges facing the national economy prompt the search for novel approaches and instruments to ensure sustainable development and competitiveness of Ukraine's financial system. An important aspect in this direction is the research of the paradigm of fintech ecosystem formation within complex geopolitical conditions, taking into account educational and scientific potential, as well as business resilience. The purpose of the paper is to investigate the essence of the fintech ecosystem paradigm, analyze educational and scientific potential, and business resilience to complex economic conditions during war, as well as to substantiate recommendations whose practical implementation will promote the formation and effective functioning of the fintech ecosystem in Ukraine. One of the key factors for successful fintech ecosystem development is educational and scientific potential. Higher education institutions prepare professionals who have acquired knowledge and can apply it in practice, developing and improving fintech products and services, as well as creating new startups. Scientific research in the fintech sphere will not only promote the emergence of new fintech solutions and the enhancement of existing financial products and services that are actively used in the financial market, but also attract investments into the development of the digital economy, which will contribute to economic growth and post-war recovery. After analyzing the amount of funding for scientific research, it was found out that underfunding can pose a threat to economic recovery. The stages of the fintech ecosystem's formation have been justified, starting from 2008 to the present day, and its development at each stage has been examined in detail. The position of Ukraine in international innovation rankings has been highlighted. The factors that influence the development of the fintech ecosystem and are unique in today's realities have been considered, with particular attention focused on funding and regulation. Business resilience is an important aspect in the formation of the fintech ecosystem, which refers to the extent to which companies are able to withstand challenges in crisis conditions and adapt to them. Factors that influence business resilience in war conditions have been systematically and extensively analyzed. Practical recommendations have been proposed for the functioning of the fintech ecosystem in the context of increasing educational and scientific potential and enhancing business resilience in war conditions, the practical application of which will stimulate the development of this industry.