Digital transformation of the banking system: global guidelines for Ukraine

Introduction. Digital transformation of the banking system is one of the key components of modern economic changes in the context of globalization and the development of new technologies. The ongoing changes in the international financial sphere are shaping new directions for the development of banking institutions, offering opportunities to optimize processes, reduce costs, and improve customer service efficiency. In this context, the adaptation of global digital transformation trends to the realities of the Ukrainian banking system becomes essential, requiring consideration of the specific characteristics of the national economy, legal framework, and infrastructure. Problem Statement. The adaptation of global experience in the digitalization of Ukraine’s banking system requires a flexible yet unified approach that enables the minimization of risks and the maximization of positive macroeconomic effects. This calls for in-depth academic research into various aspects of the digital transformation of banking operations. The purpose is to identify global benchmarks for the digital transformation of Ukraine’s banking system, with a focus on key challenges and trends. Methods. The study employs methods of systematization, analogy, induction, deduction, analysis, and synthesis. Results. Ukraine’s banking system is actively undergoing transformation in line with global digital trends. This process continues, creating new challenges for adapting infrastructure elements, such as the legislative framework and the prerequisites for using individual digital technologies and tools. Conclusions. The digitization of the banking sector is changing the concept of banking services, actively implementing new technologies. Crises have prompted banks to adapt, accelerating digital transformation. It is altering customer service principles through the integration of digital technologies in line with demographic changes and regulatory requirements. Digitization also creates new challenges, in particular, related to increased risks and the need for legal regulation, which is actively developing in the EU through acts such as DORA, MiCAR, and the AI Act. The digitalization process reduces systemic risks, and the implementation of mobile and online banking shows disparities across countries. In Ukraine, digital transformation is actively developing despite economic difficulties and war, particularly due to neobanks and online platforms: there is a fintech development with global trends, changes in legislation regarding digital assets, and cross-border payments are underway. The introduction of the e-hryvnia opens new opportunities for the financial system.