FINANCIAL INCLUSION AS A FACTOR IN THE TRANSFORMATION OF FINANCIAL MARKETS IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT

Abstract

The article discusses the concept of financial inclusion and its factors. The relationship between the level of financial awareness of the population and the level of its financial well-being was investigated. The priority directions of the strategy for the development of financial inclusion and financial intermediation, contributing to the achievement of sustainable development goals, are determined. Methodology. The percentage of non-cash transactions with payment cards in Ukraine was calculated, the dynamics of the number of holders of plastic cards was analyzed, and the financial literacy of Ukrainians was studied. Results. The results of the study showed that financial inclusion has a direct impact on economic development, as well as on the reduction of poverty and inequality and the achievement of the UN Sustainable Development Goals. Practical implications. Inclusive growth expands traditional models of economic growth by focusing on living standards and quality of life, environmental quality, social protection, financial literacy, access to financial services, and financial opportunities for citizens. Value/originality. The experience of developed countries in the context of financial literacy is compared and the directions of increasing the level of financial accessibility in Ukraine are proposed.