Open AccessCurrent stage of formation of the financial intermediation ecosystem in the context of digitalization
Author(s) -
Nataliіa Pantielieieva,
Kseniia Pantielieieva,
Natalia Tretiak,
Yuliіa Zhezherun,
S. Zaporozhets,
Наталія Володимирівна Рогова
Publication year - 2022
Publication title -
ekonomski pregled
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.134
H-Index - 9
eISSN - 1848-9494
pISSN - 0424-7558
DOI - 10.32910/ep.73.2.3
Subject(s) - financial intermediary , business , intermediation , intermediary , context (archaeology) , disintermediation , financial services , digital ecosystem , industrial organization , financial innovation , financial system , finance , computer science , knowledge management , paleontology , biology
The spread of digital technologieshas led to a new stage in the transformation of financial systems around theworld and has become a trigger for innovative changes in all areas of financialintermediation. The purpose of this article is to analyze the preconditions andtrends, identify the advantages, opportunities and risks of digitaltransformation of financial intermediation in the face of increasing competitionand intensifying disintermediation, including in Ukraine. Analytical andsystemic approaches, methods of comparative and factor analysis were used to achieve the article goals. The most important research results that have theoreticalsignificance include the substantiation of conceptual approaches to theformation of a common ecosystem of financial intermediation and an insuranceecosystem based on the integration of digital technologies. It has been proved that, despite thespread of digitalization, for financial intermediaries is important thecompliance with the principles of customer orientation, innovation, efficiencyand effectiveness, security and organizational flexibility. The digital trends of financial intermediation in relation to its mainfunctions have been identified, new types of risks associated with the spreadof FinTech and the possible consequences of their impact have been identified.The features of the institutionalstructure of financial intermediation and implementation of financialinnovations in Ukraine have been described, the regulatory policy of theNational Bank of Ukraine, the innovative activity of FinTech industry in thecontext of the spread of digitalization are presented, which can be useful interms of studying foreign experience. Theresults of this study can serve as a basis for understanding key trends,conceptual approaches to changing business models and formation of financialintermediation ecosystems, directions and opportunities for the introduction ofinnovative financial technologies for the correct orientation and response todynamic changes in the financial services market.