, Candidate of Economic Sciences, Associate Professor, Kyiv, Metalistiv, 17
, Candidate of Economic Sciences, Associate Professor, Kyiv, Lomonosova, 18

In heading

Economic theory;

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Issues number

2018 - № 2 (33)



Type of articles

Scientific article

Code UDK


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Problem setting. In today’s conditions, the introduction of innovations is not only the most important factor in structural changes in the economy, but also the driving force behind changes in the market of banking services. The introduction of innovations becomes a key factor in market competition, allowing advanced banks to earn extra profits through the appropriation of intellectual rents generated by the monopoly use of more efficient technologies. An important feature of modern economic growth is the transition to a continuous innovation process in the practice of banking institutions, by creating and implementing innovative banking business models.
Recent research and publications analysis. The research of issues of innovative activity of banks with each passing year takes an increasing part in the general structure of the study of topical issues of economic development. Much attention is paid to the study of the essence and methodology of the introduction of banking innovations, in particular in the works of O. V. Zolotareva, S. B. Yegorichevoy. The stages and scheme of the innovation process in banks are highlighted in the works of Z. Shmigelska. Analysis of modern technologies, in particular cloud services, used in the work of advanced banks,
was carried out by O. Ye. Kaminsky, O. V. Korzachenko, N. K. Samchenko. The economic efficiency of innovation activity of banks was investigated in works by I. Ya. Karcheva. However, the study of individual issues of the innovative activities of banks does not allow us to understand the technological face of a modern bank and an innovative model of its business activities, as directed by this study.
Paper objective. The presented research is aimed at analyzing the specifics of banking innovations, defining characteristics of the bank’s innovation strategy as the basis for the formation of innovative models, studying the models of banking business on the basis of he introduction of innovative technologies and opportunities for their further modernization to form new, up-to-date models.
Paper main body. Innovations that are introduced into banking activities have a number of features, but surpass their positive impact, which is reflected in the increase in efficiency, growth in liquidity and the possibility of entering the international financial level.
The reorientation to innovative models of banking business, such as: «Smart multichannel bank», «Socially-oriented bank» and «Financial / non-financial digital ecosystem», becomes a key factor in raising and implementing the bank’s competitive potential. Use of the most advanced payment technologies: NFC, QR codes and GPS; Applications LiqPay, AirPay and Android Pay service; PayPass services; technology of blockchain and biometric technologies is a condition not only for obtaining super profits from monopoly use of new technologies, but also as a basis for effective work of banks in the conditions of the formation of a new technological order.
Most banks adhere to the Smart Multi-Channel Bank model, based on multi-channel integration, which focuses on digital channels and integrated architecture. Today, the use of smartphones has significantly expanded the possibilities of mobile banking. The mobile phone begins to replace the plastic card as a means of payment.
The innovative model «Socially-oriented bank» allows establishing close connection between the bank and the client by using social media in order to determine preferences of already existing customers, the possibility of attracting new consumers and a quick response to changes in the financial environment.
Using the «Financial / Non-financial Digital Ecosystem» model, a bank becomes part of a digital ecosystem, depending on its payment solution and technology platform. This model uses the power of mobile technology to offer services that are not limited to traditional banking products. Today, thanks to the use of mobile wallet technology and creating joint content with non-financial institutions, the bank becomes a «single window» for customers to meet their financial and non-financial needs. Today, banks in Ukraine are the largest consumers of cloud services of all types (IaaS / Paas / SaaS).
A number of Ukrainian banks are working on the transition to «blockchain» technology on the basis of which it is possible to build all the work of the bank, in particular, the work of the core banking system, and work with clients. This technology can be used for internal settlements, as well as for interbank transactions. The use of blockchain will help eliminate duplicating elements, shorten the cycle of settlements and risks, and reduce operating costs.
Ukrainian banks are interested in applying biometrics, which significantly expands the range of financial services provided online. In favor of biometric technologies speak of their quick payback, ease of implementation in the existing infrastructure of the bank, automation of services and new opportunities for users.
Thus, the experience of Ukraine’s leading banks shows that the introduction of an innovative model contributes to the organic growth of the bank, maximizes the opportunities of existing business directions and allows creating new ones and generates additional revenue streams and increases the bank’s liquidity.
Conclusions of the research. The transition to innovative banking business models will allow Ukrainian banks:
– to improve the quality of banking products and services, add new consumer properties and increase the bank’s share in the financial market;
– to improve the efficiency of the bank due to cost savings, which will improve the operational, financial, marketing, technological, personnel and organizational work of banks;
– to achieve optimization of the level of risks and increase liquidity of banking institutions due to the increase of innovative products in the product line of the bank;
– to achieve economic, social and strategic effects, which is expressed in strengthening the market position of the bank, increasing the level of satisfaction of consumers’ needs in innovative products and services, and leaving the bank at a qualitatively new technological level of development;
– to bring banks to the international financial market through the use of innovations of international character.
Short Abstract for an article
Аbstract. The article explores the main aspects of the foundations of innovative development of banking business in Ukraine. The authors determined the key characteristics of innovative models of banking business based on the use of modern payment technologies, applications and services, and outlined the prospects for building models based on blockchain technology and biometric technologies.


innovative strategy of the bank, innovative model, ecosystem of innovation activity, mobile banking, blockchain technology, biometric technologies, applications and services.


External reviewer

Article in PDF

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