The Behavioral Aspects of the Interaction between Banks and Households in Ukraine

The aim of the article is a comprehensive study of the financial behavior of Ukrainian households during the impact of various economic stresses in the process of interacting with banks, considering behavioral traps, information asymmetry, and the implementation of modern digital banking technologies. The article demonstrates that each crisis left a distinctive lasting imprint on the financial behavior of households: hyperinflation taught fear of the devaluation of the national currency and the formation of foreign currency reserves, the «bank collapse» heightened awareness of bank reliability and stimulated banking reforms, while the ongoing war confirmed that if the authorities take into account the behavioral factors of the population, people will trust banks and act more rationally. Behavioral traps in the interaction between banks and households are identified, and it is noted that they are an important factor that can deepen crisis phenomena, exacerbating their negative consequences for both households and banks. It is noted that significant information asymmetry between banks and households is a major factor in deepening crisis phenomena, while informational openness and trust serve as the foundation of rational financial behavior among households. It is substantiated that modern digital services have made the financial interaction between households and banks more efficient and transparent, which is an extremely important factor under crisis conditions and when quick decisions are necessary; however, rapid digitalization necessitates increased responsibility from both parties due to the risks of digital traps. The study notes that the financial behavior of households in the banking services market is a dynamic process of development and understanding, based on the acquired experience of suffered crises, awareness and neutralization of behavioral traps, and the application of modern banking technologies; this means that banks need to take into account the behavioral characteristics of their interactions with clients to a greater extent, which will enable the formation of a mature financial ecosystem based on trust and financial culture, where rationality will effectively coexist with the behavioral characteristics of households.