Open AccessFinancial technologies for bank financial stability management in economical turbulence conditions
Author(s) -
M. V. Babenko
Publication year - 2021
Publication title -
vuzf review
Language(s) - English
Resource type - Journals
ISSN - 2534-9228
DOI - 10.38188/2534-9228.21.3.10
Subject(s) - finance , business , financial system , accounting management , indirect finance , geography of finance , financial analysis , financial services , financial regulation , financial ratio , financial intermediary , financial management , strategic financial management , financial market participants , financial market , accounting , accounting information system , marketing , strategic planning
The development of the global economy is characterized by an increase in turbulence and the restoration of a cyclic crisis component of development. An important driving force for the development of the economy is the financial stability of the bank, which manifests itself at all levels – from the micro level to the global economic system. The market of banking services is the most dynamic segment of the financial market, where the number of subjects and spectrum of products, the level of service and technologies is constantly changing.
The priority instrument for managing the financial stability of the bank in the conditions of turbulence of the economy is a financial engineering, which is a system of synergistic functioning, pre-developed and implemented combinations and processes (namely the interaction of financial innovations, financial technologies and financial instruments) in financial management of the bank due to the release of innovation resource reserve. to ensure the financial stability of the bank.
Financial innovations include financial instruments and financial technologies. Financial technologies are technologically supported by financial innovations, which can lead to new business models, programs, processes or products that have a significant impact on financial markets and institutions that provide financial services.
It is proposed to manage the financial stability of the bank in the conditions of turbulence of the economy of Ukraine to introduce a process approach that is focused on improving the motivation of banking institutions and a clear distribution of their responsibilities; achievement of internal transparency for guidance, obtaining information in real time due to the development and strengthening of the system of current and prospective control; improving the quality and predictability of the results of work; providing trust of stakeholders to banking institutions and confidence in the financial stability of its functioning; minimization of expenses and reducing the terms of organization of technological cycles of banking operations.
In order to ensure the financial stability of the bank on the basis of financial technologies, the state of turbulence of the economy should be taken into account, react promptly to its changes that require enhanced control.