ANALYSIS OF THE STATE OF IMPLEMENTATION OF FINANCIAL INNOVATIONS IN BANKS
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https://doi.org/10.5281/zenodo.18790541##article.subject##:
banking, innovation, digital technologies, financial innovation, efficiency, bank cards##article.abstract##
Today, in the context of the digitalization of the economy, systematic measures are required to develop effective
financial and economic standards for commercial banks and to ensure their innovative integration with the international
banking system. The main reasons for this are increased macroeconomic uncertainty, financial globalization, the
liberalization of legislation and regulation of the banking sector, a significant increase in business risks, the development
of information and communication technologies and global financial groups, as well as the strengthening of global
interbank relations. These trends have a dual impact on the banking sector – both positive and negative. On the one
hand, they stimulate the development of new promising banking products, services, and technologies; on the other
hand, they increase competition and require mobile and original solutions. Therefore, the policy of constant change
and the introduction of innovations has become one of the main factors of stability, sustainable and balanced long-term
development, and high competitiveness in modern economic conditions. The introduction of innovations in all areas of
economic activity and the transition of the economy to innovative development are becoming both one of the state’s
priority areas, influencing economic growth and structural changes in the economy, and the most important means of
ensuring the competitiveness of the national economy, including the banking sector. Therefore, improving the quality of
financial products (services) in banking, increasing their volume, improving the methods of their provision, and enhancing
long-term efficiency and continuity of operations should become the main strategy for the development of the banking
sector. Thus, today the development and implementation of financial innovations in the banking sector are becoming a
priority task.
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