The National Transport University Bulletin

Abstract

The paper investigates the features of the development of digital financial services, a mechanism by which you can improve any financial service and making it inclusive is developed, and a system for the development of digital financial services is proposed. Object of study – processes of inclusive development of digital financial services. Purpose of the study – to substantiation of preconditions for development of digital financial services, development of a mechanism for improving any financial service taking into account inclusiveness, the implementation of which will create an effective ecosystem of digital financial services that will attract more consumers through affordability, high quality, speed and security. Method of the study – methods of economic, systemic, comparative analysis. Results and innovation of the study – in the paper investigates the preconditions for the development of digital financial services and their impact on these processes during the COVID-19 pandemic. The peculiarities of providing basic services by financial intermediaries was analyzed, and the mechanism of development of financial services based on inclusiveness is offered. Its use, in the process of improving financial services and developing a financial product, will benefit not only consumers of these services, especially low-income people and small entrepreneurs, who in turn are experiencing declining incomes due to the pandemic, but also financial institutions, due to the increase in customer engagement. It is determined that the inclusiveness of financial services is includes accessibility, convenience, acceptability, self-regulation, efficiency, speed of receipt, financial security. The paper also proposes a system for the development of digital financial services, which will promote maximum inclusion of the population in the financial services market through the destruction of stereotypes and trust, increase financial literacy of the population, increase the frequency of use of this service. Summarizing the results of the study, we can say that Ukraine has every opportunity to make the financial services market as inclusive as possible, as it has a constantly growing demand for digital financial services, developed IT sector that can create appropriate financial products. Forecast assumptions about the object of study – a value-oriented approach can give a powerful impulse to build an inclusive finance system, which by its perfection did not yet exist in the world, because it allows involving all citizens in socio-economic processes due to modern technologies. 

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