Serhiy Shkarlet, Maksym Dubyna, Olena Zhuk


The financial services market is an integral part of the national economy of any country. This causes the existence of the objectively available interconnection between the said systems. That is why, by the transformation of the outlined market, some changes in the functioning of the national economy and vice versa take place. The outlined processes become the most comprehensible in the process of studying of issues of the financial services market development in the environment of the active introduction of the information technology by financial companies in their work, that is, generally in the era of the information economy development. That is why, in view of the above, within the work, the purpose of the study was defined as follows: the identification and substantiation of the determinants of the financial services market transformation within the information economy. To achieve this goal, the following tasks were set and solved: to define the essence of the information technology market; to identify the nature of the information economy; to substantiate the advantages of information technologies introducing in the field of the financial services for their consumers and producers; to find out the main transformational processes in the financial services market functioning, which occur as a result of the active introduction of new information technologies in the field of financial services provision. Method. The classic methods of scientific research are used in the article, among which are the following: observation, abstraction, comparison, systematic approach, analysis, and synthesis. Results. The peculiarities of the financial services market development in Ukraine are investigated; the characteristic features of the influence of the information technologies introduction in the sphere of providing the financial services on their consumers and producers activity are analysed. The main determinants of the financial services market functioning during the era of the information economy development were also identified, which include the following: the introduction of the online platforms for the customers servicing, improving the quality of the banking settlement and cash services, change in the process of granting loans to the economic actors. The reasons for such changes and their peculiarities are substantiated. Practical implications. The obtained results form the theoretical basis for the knowledge of the financial services market transformations in the process of the active development of information technologies and allow determining the basic trends of such changes. Also, the results of the study provide an opportunity to identify further trends in the changing financial services market, models of the financial intermediaries’ functioning, and use this knowledge by planning and forecasting the financial intermediaries’ activities. Value/originality. The conducted research is relevant, taking into consideration the total impact of the information technology on the development of all spheres of the society, takes into account the peculiarities of the financial services market development under the pressure of such technologies. This research was carried out within the framework of the scientific work implementation of the Department of Finance, Banking, and Insurance of Chernihiv National University of Technology (No. 0115U001149) on the topic: “Financial stability of the economic systems in the crisis conditions of management”.


financial service, financial institution, fintech company, phishing, information technologies

Full Text:



mln UAH (2017). Biznes – Business, 4-5, 6. Retrieved from:

Batkhin Yu. (2018). Fintekh yak win-win [Fintech as win-win]. Biznes – Business, 15-16, 37. (in Ukrainian)

V Ukraini maininh stane ofitsiinym (2018). [In Ukraine, mining will become official] Biznes – Business, 10-11, 6. (in Ukrainian)

Hrynkov D., Hontar V. (2016). Karta s bytom [Map with the way of life]. Biznes – Business, 51-52 (1246-1247), 34-35. (in Ukrainian)

Gusev Iu. (2017). V stile Techno [In the Techno style.]. Biznes – Business, 6, 14-16. (in Russian)

Dubyna M.V. (2017). Osoblyvosti funktsionuvannia rynku finansovykh posluh Ukrainy u prostori rozvytku informatsiinoi ekonomiky [Special attention to the function of the financial support of Ukraine in the field of the information economy development]. Aktualni problemy formuvannia ta rozvytku informatsiinoi ekonomiky v Ukraini – Current problems in formulating the information economy development in Ukraine. Chernihiv. Pp. 115-133. (in Ukrainian)

Kompleksne sotsiolohichne doslidzhennia Asotsiatsii «IeMA» na temu «Shakhraistvo ta hramotnist u sferi vykorystannia platizhnykh instrumentiv: pohliad ukrainskoho spozhyvacha» [Complex sociological research of the “IeMA” Association on the topic “Fraud and literacy in the field of the payment instruments use: a look at the Ukrainian community”] (n.d.). Retrieved from:

Myronenko V. (2018). Minlyvyi bankinh [Changing Banking]. Biznes – Business, 15/18, 3. (in Ukrainian)

Nazvany 50 luchshikh fintekh-kompanii po versii Forbes [The 50 best fintech companies are named by Forbes]. Retrieved from:

Osnovni tsyfry ta trendy na rynku platizhnykh kartok Ukrainy za pidsumkamy 2017 roku [The main figures and trends in the payment cards market of Ukraine in 2017]. (n.d.). Retrieved from:

Popadynets O.V., Sheresheniuk O.M. (2016). Ekonomichni zakony informatsiinoi ekonomiky: transformatsiia tradytsiinykh postulativ ekonomichnoi teorii [Economic laws of the information economy: transformation of the traditional postulates of the economic theory]. In Accounting, analysis and audit of enterprises: problems, trends, prospects. Dublin: SAUL Publishing Ltd, pр. 135-144. (in Ukrainian)

Piatyrichka rozkvitu smartfoniv (2018). [Five Years of Prosperity of Smartphones]. Biznes – Business, 16-17, 6. (in Ukrainian)

Trofymchuk M.I. (2012). Rozvytok infokomunikatsiinoi infrastruktury finansovoho rynku [Development of the info-communication infrastructure of the financial market]. Ekonomika ta upravlinnia APK – Economics and management of the agro-industrial complex, 9, 158-160. (in Ukrainian)

Fishing v 2017 godu osvedomlennost luchshaia zashchita ot lovushek [Phishing in 2017: Awareness is the best defense against traps] (n.d.). Retrieved from

Chukhno A.I. (2008). Instytutsionalna arkhitektonika ta instytutsionalna dynamika [Institutional Architecture and Institutional Dynamics]. Ekonomika Ukrainy – Economy of Ukraine, 7, 137-143. (in Ukrainian)

Shkarlet S.M. (2014). Informatsiina ekonomika: metody, modeli ta tekhnolohiia formuvannia [The information economy: methods, models and technology of formation]. Chernihiv. (in Ukrainian)

Shkarlet S.M., Dubyna M.V. (2016). Osoblyvosti zastosuvannia kohnityvnoho pidkhodu do identyfikatsii sutnosti rynku finansovykh posluh [Features of the application of the cognitive approach to the identification of the financial services market essence]. Ekonomichnyi chasopys – Economic Journal, 3-4 (2), 70-74. (in Ukrainian)

Shkarlet S.M., Dubyna M.V. (2017). Sutnist ta osoblyvosti rozvytku informatsiinoho suspilstva [The essence and peculiarities of the information society development]. Naukovyi visnyk Polissia – Scientific bulletin of Polissia, 1 (2(10)), 152-158. (in Ukrainian)

Iur G. (2016). Bankam ne obkhodimo stanovitsia bolem tekhnologichnymi i gibkimi [Banks need to become more technologic and flexibey]. Biznes – Business, 51-52 (1246-1247), 40-41. (in Russian)

Christopher N. Sutton, Beth Jenkins (n.d.). Sutton The role of the Financial Services Sector in Expanding Economic Opportunity. Retrieved from:

Graham T.T. Molitor (2000). Trends and drivers in the information economy: strategic options for the insurance and banking industry. Foresight, 2(1), 55-68. (in English)

Martin Neil Baily, Douglas J. Elliott (n.d.). The Role of Finance in the Economy: Implications for Structural Reform of the Financial Sector. Retrieved from:

Noureen Adnan (n.d.). The role of the financial sector in economic growth. Retrieved from:

Shkarlet S.M., Dubyna M.V., Tarasenko А.V. (2017). Basic descriptors of the information economy development. Naukovyi visnyk Polissia – Scientific bulletin of Polissia, 1 (3(11)), 8-15. (in English)



  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.