Keywords
financial system
institutional support
digital services and platforms
digital financial ecosystem
public finance
institutional models
digitalization
How to Cite
Abstract
The article is devoted to the study of institutional support for the digital transformation of Ukraine’s financial system. The relevance of the research is determined by the need to establish a holistic institutional architecture capable of ensuring the coordination of public authorities, the development of a regulatory and legal framework, and the implementation of innovative technologies. The purpose of the article is to provide a comprehensive justification of institutional support models for the digitalization of Ukraine’s financial system, taking into account international approaches and national specifics. The study applies systemic-structural and institutional analysis, the comparative method, as well as classification tools to distinguish models of institutional support for the digital transformation of the financial sector. The essence of institutional support for the digitalization of the financial system is revealed, and models of its organization are classified as centralized, decentralized, hybrid, and network-based. A structure of the digital financial ecosystem is proposed, which includes institutional, regulatory, and technological components. Within each of these, key tasks and responsible bodies ensuring coordination and practical implementation of digital initiatives are identified. A SWOT analysis of the digital transformation of Ukraine’s financial system has been conducted, which highlights strengths (advanced digital infrastructure), weaknesses (cybersecurity vulnerabilities, limited resources), opportunities (private sector innovations, European integration), and threats (escalation of cyber warfare, geopolitical instability). It is proven that the effective digital transformation of Ukraine’s financial system requires a flexible institutional model that combines centralized strategic management with decentralized implementation of digital initiatives. Practical recommendations are formulated to improve the effectiveness of institutional support for digitalization, in particular by strengthening the coordinating role of central executive authorities, adapting the legislative framework to international standards, and developing technological infrastructure.
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