Digitization of banking services as a strategic direction for savings banks

Abstract

Introduction. Digital means of expanding access to financial services are currently one of the promising tools for solving important socio-economic problems and stimulating economic development. The coronavirus pandemic gave a powerful impetus to the spread of digital banking. After the decline in morbidity and the relaxation of the quarantine, activity in the use of digital channels by customers of almost all segments has remained. Problem Statement. The relevance of the study is due to the global trend to replace the branch network with a remote service in order to reduce operating costs (increase operational efficiency) provided that customers' needs for reliable, fast and cheap services are met. The purpose is to determine the potential of digitalization of the delivery channels of banking products and services for savings banks in the conditions of the latest technologies and systemic stresses. Methods. The methodology of comparative analysis, system analysis, correlation of historical data, scientific synthesis was used. The research was conducted using the methods of statistical analysis of series dynamics and factor analysis of data. Content analysis was used in the review of scientific publications and reports. Results. In Ukraine, the introduction of digital financial technologies to expand access to banking services within the framework of remote banking technologies has both a number of achievements and many problems, the solution of which requires appropriate measures taken by state authorities. A positive thing is the rapid development of computer programs for the introduction of remote banking and their implementation in the work of state banks. The still relatively low share of remote service coverage for corporate and retail customers can be singled out as bottlenecks. Other significant problems include the slow implementation of legislative and regulatory initiatives in this area, in particular those defined in the framework of the Strategy for the Development of the Financial Sector. Conclusions. The analysis showed that Ukrainian banks differ significantly in the development of remote banking services (RBS), there is a gap between leaders and outsiders in the quality and scope of remote banking services. The leading positions of PrivatBank and Sens-Bank (in certain aspects) are largely due to the legacy of the period when they were in private ownership, but since then other commercial banks have made significant progress. In working out a development strategy, banks need to provide for regular surveys of the clientele and marketing analysis of situations and the latest trends in order to predict the behavior of customers and respond adequately to their needs and behavior patterns. At the same time, banks are already able to act proactively, educating and encouraging customers to use RBS channels. International and Ukrainian experience sometimes demonstrates failures in the implementation of RBS projects. Therefore, it is advisable to implement the concept of balanced development of all product delivery channels in the savings bank with an emphasis on remote customer service, introduce user training programs, and adapt application interfaces.