The impact of the fintech market on the transformation of financial services in Ukraine: structural changes and development in the context of a war economy

Кужелєв, Михайло Олександрович and Нечипоренко, Аліна Володимирівна (2026) The impact of the fintech market on the transformation of financial services in Ukraine: structural changes and development in the context of a war economy Європейський науковий журнал Економічних та Фінансових інновацій, 19 (1). pp. 136-147. ISSN 2617-8648

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Abstract

The article examines the impact of the development of the financial technology (FinTech) market on the transformation of financial services in Ukraine in the context of a war economy. It is argued that full-scale war has become a catalyst for the accelerated digitalization of the financial sector, leading to profound structural changes in the activities of banking and non-banking financial institutions, changes in business models, formats for providing financial services and mechanisms for interacting with customers. The evolution of the FinTech market in Ukraine is examined and the priority technologies among Ukrainian FinTech companies in 2025 are revealed. The article considers cases of digital transformation of traditional banks and the growing role of non-bank financial institutions in the provision of financial services. It has been determined that the active implementation of FinTech solutions has contributed to significant changes in the insurance services market. It is noted that the infrastructure prerequisites for the rapid development and transformation of the fintech market were the development of artificial intelligence technologies and the creation of a national cybersecurity system. Based on an analysis of current trends, three iterations of the further development of the financial technology market in Ukraine are presented. It is noted that the development of the FinTech market in Ukraine under martial law represents a phenomenon of economic stability against the backdrop of existential threats. The main vectors of tension are outlined, in particular: the energy crisis; systemic DDoS attacks on both the state's cyber infrastructure and leading market participants; the crisis in the human capital market; regulatory transformation of the market; fiscal uncertainty and the macroeconomic environment. Recommendations are proposed that will help minimize the impact of negative factors on the development of the fintech market and help the financial services market as a whole maintain stability and ensure innovative development even in a war economy. It is concluded that the FinTech market plays an important role in ensuring the socio-economic stability of households and businesses in a war economy, and that the transformation of the financial services market is not a trend in the development of the national economic system, but an accomplished fact that defines the new economic reality of Ukraine

Item Type:	Article
Uncontrolled Keywords:	financial technologies; fintech market; financial services; fintech sector; information technologies; cybersecurity
Subjects:	Статті у періодичних виданнях > Фахові (входять до переліку фахових, затверджений МОН)
Divisions:	Факультет економіки та управління > Кафедра фінансів
Depositing User:	Аліна Володимирівна Нечипоренко
Date Deposited:	04 Feb 2026 15:54
Last Modified:	04 Feb 2026 15:54
URI:	https://elibrary.kubg.edu.ua/id/eprint/56287

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