Ukrainian Black Sea Region Agrarian Science

Abstract

The financial sector contributes to the growth of the population's well-being, stimulates business development, and helps to expand the markets for goods and services. With the passage of time, financial technologies are becoming more and more important, because after the global financial crisis, banking institutions were forced to adapt to new challenges. With the advent of the latest technologies, banks had to focus on the efficient provision of financial services, taking into account financial inclusion. In order to help consumers of financial services manage the financial aspects of business, while using new programs, financial technologies are used. They are a necessary mechanism for the formation of competitiveness of any company and any state. However, there is a problem of low involvement of the population in the financial sector, as not every individual has access to quality financial services and the necessary experience to use them in everyday life. Thus, the purpose of the article is research and analysis of the application of financial technologies in the banking system of Ukraine. The article examines the essence of financial technologies and their role in the development of the financial sphere of Ukraine. The question of the emergence of financial technologies is highlighted. It was considered how and with the help of which financial technologies the work of banking institutions is carried out during the COVID-19 pandemic. In order to determine the strengths and weaknesses, opportunities and threats, a SWOT analysis of the use of online technologies by banking institutions of Ukraine during the COVID-19 pandemic was conducted. It was found that there was an increase in demand among the fintech population, especially during the COVID-19 pandemic

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