DIGITALIZATION IN THE SYSTEM OF FACTORS FOR BUILDING THE CAPACITY OF FINANCIAL MARKET INSTITUTIONAL SUPPORT

Abstract

The article is devoted to the study of the current trend of digitalization of the financial sector of Ukraine, the factors influencing the functioning of the financial sector, and, on this basis, the identification of areas for strengthening the potential of institutional support of the financial market. The article analyzes Ukraine's position in the digital ranking during the study period and the dynamics of the factors that determined Ukraine's position. The unrealized potential of digitalization, in particular in the financial sector, which should guarantee appropriate development, is identified. Trends in the digitalization of the financial market, such as FinTech, which is a system of technologies used in financial services or to help businesses manage financial elements, including new programs and applications, procedures, and business models, are investigated. In the general formulation of the issue, there are grounds to talk about the importance of qualitatively updating the institutional support model to meet the challenges of digitalization. The author concludes that it is important to enhance the positive effects of the institutional environment.