Modern FinTech trends and their impact on the safety of banking institutions
DOI:
https://doi.org/10.26906/EiR.2021.3(82).2375Keywords:
banking institutions, economic bank security, FinTech, digital banking, payment innovations, artificial intelligence, blockchainAbstract
In the article, we examined the main trends in the implementation of financial innovations in the work of banking institutions and identified the prospects for their development in the coming years. We studied the benefits of using such technologies as digital banking, artificial intelligence, open banking, microservices, e-wallets, blockchain, etc. for the banking sector and users of banking services. We also determined how the use of modern technologies affects the strengthening of banking security and the efficiency and profitability of the banking business. We examined the global trends in the implementation of FinTech in banking and the impact of relevant technologies on the development of the Ukrainian banking sector. We discussed the role of the National Bank in the process of intensifying the implementation of Fintech in the banking sector of Ukraine.
References
Ściślak, J. (2021). Digital Transformation in Banking and Financial Services. Code & Pepper. Retrieved October 6, 2021, from https://codeandpepper.com/digital-transformation-in-banking-and-financial-services/.
Mian, S. (2021). The Top 5 FinTech trends of 2022. Bandfbusinessplans. Retrieved October 1, 2021, from https://bandfbusinessplans.co.uk/blogs/the-top-5-fintech-trends-of-2022/.
Planet Compliance. (2020). Top 5 Banking and Fintech Trends For 2021. Retrieved October 2, 2021, from https://www.planetcompliance.com/top-5-banking-and-fintech-trends-for-2021/.
Shilling, M., & Celner, A. (2021, November 19). 2022 banking and capital markets outlook. Deloitte Insights. Retrieved from https://www2.deloitte.com/global/en/insights/industry/financial-services/financial-services-industry-outlooks/banking-industry-outlook.html.
Cardoza, E. (2021). FinTech trends 2021: The ground-breaking impact in the banking industry. IBS Intelligence. Retrieved October 3, 2021, from https://ibsintelligence.com/ibsi-news/fintech-trends-2021-the-ground-breaking-impact-in-the-banking-industry/.
The Economist. (2015). The great chain of being sure about things. Retrieved October 3, 2021, from https://www.economist.com/briefing/2015/10/31/the-great-chain-of-being-sure-about-things.
Narayanan, A., Bonneau, J., Felten, E., Miller, A., & Goldfeder, S. (2016). Bitcoin and Cryptocurrency Technologies a comprehensive introduction. Network Security, 2016(8), 4. https://doi.org/10.1016/s1353-4858(16)30074-5. DOI: https://doi.org/10.1016/S1353-4858(16)30074-5
Sharma, A. (2018). Blockchain to Boost Regional Banks’ Efficiency and Cut Costs. https://www.thenationalnews.com/business/technology/blockchain-to-boost-regional-banks-efficiency-and-cut-costs-1.765312
The Strategy of Ukrainian Financial Sector Development until 2025. (2020, July 18). National Bank of Ukraine. Retrieved October 1, 2021, from https://bank.gov.ua/ua/files/DDWIAwXTdqjdClp.
Khudolii, Y. S., & Khalievina, M. O. (2021). Financial Technology in Banking Business: Realities and Prospects. The Problems of Economy, 1(47), 134–142. https://doi.org/10.32983/2222-0712-2021-1-134-142. DOI: https://doi.org/10.32983/2222-0712-2021-1-134-142
Downloads
Published
How to Cite
Issue
Section
