Development of digital financial technologies in the banking sector (based on the materials of Ukrainian Information Technologies LLC)
Students Name: Shkarupa Ihor Olehovych
Qualification Level: master (ESP)
Speciality: Finance, Banking and Insurance
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2023-2024 н.р.
Language of Defence: англійська
Abstract: The development of information technologies in the banking system is actively discussed among scientists, practicing economists and representatives of the business community. Domestic specialists studied the creation, implementation and use of innovative tools in the banking sector, taking into account risks and cyber threats. Without denying the importance of the scientific works of these specialists, it should be noted that the permanent development of the latest digital technologies makes this topic particularly relevant. It needs new scientific research, especially taking into account the realities of war and the global challenges and threats caused by it. The purpose of the master’s thesis is to study the theoretical provisions of the implementation of digital technologies in the banking sector based on the results of the analysis of the activities of PJSC "Ukrgasbank" and the justification of methodological and practical recommendations for the implementation of fintech innovations using the example of PJSC "Ukrgasbank". The realization of the set goal of the research determined the need to set and solve the following tasks: to investigate the theoretical foundations of the development of digital technologies in the banking sector; carry out an analysis of the financial condition of PJSC JSC "Ukrgasbank"; carry out an assessment of the level of financial stability of PJSC AB "Ukrgasbank" when implementing fintech tools; conduct a SWOT analysis of the economic environment of Ukrgasbank PJSC; to carry out economic and mathematical modeling of the assessment of the sustainability of the development of PJSC "Ukrgasbank" to identify opportunities for the implementation of digital financial technologies; forecast changes in income and expenditure indicators of PJSC "Ukrgasbank"; provide recommendations on the implementation of digital financial innovations in PJSC JSC "Ukrgasbank"; justify the results of project decisions for PJSC JSC "Ukrgasbank". The object of the master’s thesis is the development of digital financial technologies in the banking sector, using the example of Ukrgasbank PJSC. The subject of the work is theoretical-methodical and applied approaches to the implementation of digital financial technologies in Ukrgasbank PJSC. The methodological basis of the work is a set of principles, general scientific and special research methods and techniques, the use of which is determined by the goal and tasks. The basis of the research is the basic principles, scientific provisions and modern achievements in this field. During the study, the following methods were used: dialectical and methods of analysis and synthesis - to study the peculiarities of the implementation of digital financial technologies in the bank; horizontal and vertical analysis - to analyze the Report on the financial condition and the Report on profits and losses (on the example of PJSC AB "Ukrgasbank"); tabular and graphic method - when presenting and visualizing the obtained analysis results; coefficient method - to determine the main indicators of the bank’s financial condition and their compliance with normative values; the SWOT analysis method - to establish the lines of communication between the strengths and weaknesses inherent in this bank, with external opportunities and threats; modeling - to carry out a thorough analysis of the sustainability of the bank’s development; forecasting method – for forecasting the main indicators of the bank’s income and expenses for future periods; structural and logical analysis - for the development of the theoretical and methodological foundations of the implementation of digital financial technologies (on the example of PJSC "Ukrgasbank"). In order to build an effective system of sustainable development of PJSC Ukrgasbank, it is proposed to apply conceptual provisions on the implementation of digital financial technologies using financial engineering tools. It has been established that financial innovations are essentially means of financial engineering, because their practical implementation allows you to fulfill the tasks set by the bank’s management at each stage of its development. The solution to the problem of implementing a business model of ensuring the bank’s sustainable development using financial engineering means is the formation of a package of financial innovations for the bank’s management, and the choice of a specific means of financial engineering among a wide range of alternatives. In particular, the implementation of open banking (API-interfaces) in the p2b lending system for PJSC JSC "Ukrgasbank" is proposed. Key words: digital financial technologies, fintech innovations, sustainable bank development. References. 1. Alieksieiev, I., Mazur, A., & Storozhenko О. (2021). Implementing the sustainable development goals in Ukraine: financing framework. Financial and Credit Activity: Problems of Theory and Practice, 5(40), 399–409. https://doi.org/10.18371/fcaptp.v5i40.245191 (Web of Science) 2. Open Banking: How Platforms and the API Economy Change Competition in Financial Services. Global Fintech: Financial Innovation in the Connected World. 2022. URL: https://direct.mit.edu/books/oa-edited-volume/5280/Global-FintechFinancial-Innovation-in-the (дата звернення: 01.02.2024). 3. Platon Payment service provider. URL: https://platon.ua/news/kolichestvo-tranzakczij-open-banking-vo-vremya-covid-19-uvelichilos-na-832.html (дата звернення: 17.02.2024). 4. Restructuring Management. Threats, Adaptations and Development in the Face of Changes : Collective monograph [I. Alieksieiev, A. Mazur (2022) Challenges and objectives of financial support for innovation projects: analysis and international comparison (Chapter 18). – p.241–248]. Torun, Poland: TNOiK, Stowarzyszenie Wyzszej Uzytecznosci, Cracow University of Economics. https://iz.uek.krakow.pl/wp-content/uploads/2022/05/2022_Restructuring-Management.-Threats-Adaptations-and-Development-in-the-Face-of-Changes.pdf