FINTECH INDUSTRY OF UKRAINE: PROSPECTS AND CHALLENGES

Purpose – The purpose of this research is to examine the transformation and development of the Ukrainian fintech industry in the context of the Russo-Ukrainian war and economic instability. Specifically, the study focuses on analyzing current trends, potential risks, and challenges faced by fintech companies in Ukraine, as well as identifying key factors that contribute to the growth and recovery of this sector under crisis conditions. Design/Methodology/Approach – This research employs comparative analysis to evaluate the dynamics of the Ukrainian fintech market in comparison to other countries, which helps understand the peculiarities of development in times of war and economic instability. Statistical analysis is used to examine quantitative indicators of fintech companies’ growth in Ukraine, such as investment volumes, growth rates, and other relevant metrics. Forecasting analysis is applied to predict the future development of the fintech sector based on current trends and to determine growth prospects in the context of war and crisis. Findings – The research demonstrates that the Ukrainian fintech industry, despite the challenging circumstances, shows steady growth. The main challenges for the sector include regulatory uncertainty, cybersecurity issues, and shortages of financial resources and skilled personnel. However, high demand for digital financial services, innovative technologies, and integration with international markets create favorable conditions for further growth. Establishing an effective regulatory environment and strengthening partnerships with international financial institutions will play a key role in the success of the Ukrainian fintech market. Practical Implications – The findings of this research are practically significant for the development of strategies for fintech companies aiming to adapt to new conditions and take advantage of growth opportunities. They can also inform recommendations for governments and regulators to create a favorable legislative environment for fintech companies, enhance cybersecurity, and attract investment into Ukraine’s fintech sector. Originality/Value – The originality of this research lies in its comprehensive analysis of the Ukrainian fintech market specifically under the circumstances of war and economic instability, with a focus on new technologies, international cooperation, and regulatory initiatives. The value of this work lies in its provision of timely recommendations for the development of Ukraine’s fintech industry, which is crucial for the country’s economic recovery after the war.