DIGITALIZATION PARADIGM OF UKRAINIAN FINANCIAL MARKET-Reference-Cited by-同舟云学术

DIGITALIZATION PARADIGM OF UKRAINIAN FINANCIAL MARKET

Published:2021-12-01 Issue:Issue Vol 20, No 4 (2021) Volume:20 Page:648-664
ISSN:2519-4070
Container-title:Issue Vol 20, No 4
language:
Short-container-title:JEE

Author:

KHAMIDOV Obidjon¹^ORCID,MAMANAZAROV Abdukhakim²^ORCID,MAKSYMOVA Irina³^ORCID,SLUSARENKO Kateryna⁴^ORCID,KULISHOV Volodymyr⁵^ORCID

Affiliation:

1. Bukhara State University Uzbekistan Doctor of Sciences, Professor

2. Tashkent Branch of Moscow State University named after M. V. Lomonosov Uzbekistan PhD, Associate Professor

3. State University of Economics and Technology Ukraine PhD, Associate Professor, Department of International Economics

4. State University of Economics and Technology Ukraine PhD, Associate Professor, Institute of Innovative Education and Development

5. State University of Economics and Technology Ukraine Dr.oec., Professor, Department of International Economics

Abstract

The article examines the key concepts and theories of modern digitalization paradigm of global financial market, its equilibrium, conditions of financial centres, e-commerce, and FinTech companies. It identifies positive and negative aspects of financial market digitalization and its transformation in global digitalization. Effective principles for the digitalization of Ukraine’s economy are explored. The key ways of financial market digitalization are outlined. The article presents a framework of indicators for the digitalization of the financial market in Ukraine. Quantitative analysis is applied to the indicators grouped by type: general indicators of online financial activity of the population; indicators of online and offline accumulation of funds; indicators of credit activity. In addition, some ways to digitalize Ukrainian market are outlined and hierarchical model of FinTech sectors in Ukraine is proposed. This allows us to identify the most promising areas for the future development of financial technologies in such areas as cash flow services, innovations and new standards of technological services, and application development. It is substantiated that in addition to the commonly used payment tools, the most promising areas in Ukraine are the development of IT solutions, financial asset analytics, marketplaces and neo-banking.

Publisher

West Ukrainian National University

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