Lesia V. Sus

The study addresses the pressing issues of adapting to the era of digital transformation, with particular emphasis on the integration of cryptocurrencies into payment systems and the development of cryptocurrency-based settlements within the banking system of Ukraine. The aim of this research is to comprehensively examine the prospects for the development of cryptocurrency-based payment transactions in the banking sector and to assess the strength of the relationship between the exchange rates of the world’s leading cryptocurrencies. The object of the study comprises financial transactions involving cryptocurrencies and the organization of payment processes through the implementation of innovative financial instruments in banking activities for cryptocurrency settlements. The subject of the research includes the methodological, theoretical, and applied aspects of developing cryptocurrency-based payment systems in the banking sector. The study employs a combination of general scientific and specialized research methods. In particular, the system approach, structural analysis, comparative analysis, economic and logical methods, and correlation analysis were applied to identify the distinctive features of cryptocurrencies and determine the key characteristics of cryptocurrency transactions within the banking system. The article summarizes the main characteristics of cryptocurrency transactions and identifies the major advantages and disadvantages of cryptocurrencies. A comparative analysis of payment systems was conducted, the Top-10 cryptocurrencies by market capitalization were identified, and a ranking of the wealthiest Ukrainian cryptocurrency holders was compiled. The study also proposes the key mechanisms through which cryptocurrencies may influence the country’s economic development. The findings indicate that the efficient integration of cryptocurrencies into the Ukrainian banking system requires the development of an appropriate regulatory framework aligned with international standards. Such a framework would enable banks to expand the range of financial services offered to customers while ensuring secure and efficient transactions involving digital assets. Particular attention is paid to examining the strength of the relationship between the world’s largest cryptocurrencies, which partially explains the volatility of cryptocurrency exchange rates. The practical significance of the research lies in the possibility of applying the obtained results to the formulation and implementation of the State’s monetary policy, as well as to the development of strategies for the digital transformation of the banking system and the implementation of managerial reforms.

Financial decisions in conditions of growing economic, social, and institutional uncertainty are becoming particularly relevant in scientific and practical terms, since traditional approaches based on the assumption of complete rationality of economic agents are not always able to adequately explain real financial behavior. Contemporary crises, military challenges, financial market instability, and information asymmetry increase the role of psychological factors in the financial decision-making process. In this context, the behavioral approach is an important tool for deepening the theoretical understanding of financial behavior and improving the quality of managerial and individual financial decisions. The purpose of the study is to theoretically substantiate and systematize behavioral factors influencing financial decision-making in conditions of uncertainty, as well as to develop practical recommendations for reducing the negative impact of cognitive biases and emotional determinants on the financial behavior of economic agents. The paper summarizes the evolution of scientific concepts of the influence of psychological factors on financial choices – from classical theories of expected utility to prospect theory and the concept of “nudging.” Key cognitive biases and heuristics that determine financial behavior in conditions of risk and uncertainty are systematized. The study examines the impact of emotional and psychological factors on the financial decisions in conditions of socio-economic instability, information overload, and war stress. It has been substantiated that low financial literacy combined with high anxiety and intolerance to uncertainty contributes to the dominance of impulsive and intuitive models of financial choice. A set of practical methods for correcting financial behavior is proposed, including psychoeducational programs with the integration of psychological components, cognitive-behavioral financial interventions, the financial scenario method, the “slow financial decision” model, and the “psychological financial profile” method. The implementation of the proposed approaches will contribute to the formation of more conscious, sustainable, and responsible financial behavior in conditions of high uncertainty.

It is proven that nowdays consumer purchasing decisions are driven both by conscious recognition of their needs and by the irrational nature while the decision-making under the uncertainty conditions and the alternative choices existence. Moreover, marketing communications are increasingly based on emotional and rational factors, that contribute to the stable positive associative links between consumers and products, brands, and company’s formation, expedite the long-term partnerships development and support the strategic business objectives achievement. The special attention is paid to the problem of the modern marketing instruments insufficient, as well as the offline and online marketing activities integration. Such integration would enhance interaction between the LLC TC «Polissia-Product» and customers through innovative communication mechanisms, ensure the sustainable growth and increase retailer competitiveness for the long term. The proposed marketing improvement in the retail system is considered achievable through the consumer needs studyng and their effective satisfaction. Thus, the integrated marketing communications mix using reduces information asymmetry in the market and increases the transparency of market interactions, while an effective communication policy forms competitive advantages and serves as the basis for effective managerial decisions making.

Наукове дослідження присвячене актуальним питанням щодо функціонування національної системи фінансового моніторингу України. Окрему увагу приділено ролі суб’єктів первинного моніторингу в економічному просторі держави. Метою даного дослідження є систематизація особливостей становлення первинного фінансового моніторингу в Україні та окреслення перспектив розвитку його в умовах сучасних викликів і загроз. Встановлено, що тінізація доходів породжує не тільки значні фінансові проблеми, а й гострі економічні та соціальні проблеми. Найактивнішу участь у здійсненні первинного фінансового моніторингу беруть банківські установи. Водночас політика оптимізації витрат веде до зменшення кількості структурних підрозділів установ, що здійснюють первинний фінансовий моніторинг. Тому з метою підвищення ефективності роботи СПФМ подальший розвиток системи первинного фінансового моніторингу має бути спрямований у чотирьох напрямах – підвищення якості ідентифікації та верифікації, удосконалення ризик-орієнтованого підходу, посилення контролю і відповідальності, автоматизація процесів звітності.

Стаття присвячена актуальним питанням оцінки впливу іноземного капіталу на діяльність банківської системи України. Метою даного дослідження є систематизація особливостей функціонування іноземних банків в Україні та окреслення перспектив їх стратегічного розвитку в умовах сучасних викликів і загроз. Проаналізовано динаміку кількості банківських установ, а також кількості відділень та визначена частка присутності іноземних банків в банківській системі України. Досліджено згруповані балансові залишки у розрізі банківських груп задля порівняння ваги внесків у національну банківську систему. Виявлено, що іноземні банківські групи контролюють приблизно третину активів банківської системи України. Досліджено та систематизовано стратегії розвитку іноземних банків на найближчу перспективу. Сформовано позитивні та негативні сторони присутності банківського іноземного капіталу в економіці країни.

The aim of the study is a theoretical and methodological generalization of the process of strategic management and determination, through strategic planning, of ways of development of system important banks of Ukraine under conditions of uncertainty of their functioning environment. As a result of the study of foreign and domestic experience, the theoretical and methodological concept of strategic planning of the banking system is formulated. The authors analyze the goals, missions and visions of the strategies of system important banks, assess the state of development of system important banks in Ukraine in the current conditions and identify the key areas of strategic planning. It is found that system important banks of Ukraine occupy a predominant share in the structure of both certain types of banking income and financial performance. In addition, it is determined that strategic planning should be based on the reliability and completeness of economic indicators and non-financial indicators. In particular, the indicators of the bank’s share in the activity among banking structures are important for characterizing its competitive position and the level of efficiency of its strategy among competitors. It is researched that system important banks are predominant in the banking services market, and their network of branches is widely distributed. The strategic development of these banks should be aimed at the possibility of retaining this share of the banking services market. The authors improve the theoretical and methodological approach to the strategic planning process in a bank on the principles of introducing an inclusive component of further development, which will provide for a sustainable accelerated growth of the country’s economic power on the basis of financial inclusion, a radical increase in the welfare of individual members of society and society as a whole. It is specified that such approaches to organizing the formation of strategies of system important banks will also ensure sociopolitical stability and form an appropriate level of national security.

The agricultural sector occupies a significant share in the Ukrainian economy, which is why the author analyzes the role of the bank credit market in providing agricultural enterprises with financial resources. Relying on theoretical and methodological research, two groups of factors have been singled out that generate the specifics of lending to farmers. The current state of capital investment financing through bank lending is presented. Interest rates on bank loans and volumes of lending to agricultural enterprises are considered. The rating of the largest creditors of the agricultural sector of Ukraine is formed. The dependence of gross value added on the volume of agricultural lending has been studied. The state regulation of specialized banks in order to create the most favorable conditions for lending to agricultural enterprises is substantiated.

The research is aimed at theoretical and practical aspects of financial planning of enterprises in conditions of volatility and instability of the external environment. Based on the generalization of approaches to the essence and the meaning of financial planning, its semantic characteristics are determined in terms of methodology in both broad and narrow context. The process of evolution of financial planning is considered from the point of view of formation of systems of financial economic activity management of enterprises, three stages of its genesis with specification of advantages and disadvantages are distinguished. The principles, types and methods of planning are systematized. The stages of financial planning at enterprises are distinguished and their role in balancing financial stability in the process of formation, accumulation, distribution and use of financial resources is determined. Based on the stages of financial planning, three main subsystems of activity planning (strategic forecasting, ongoing financial planning and operational planning of financial activities) are described. On the basis of the analysis of existing problems in financial management in case of instability and recurrence of crisis phenomena, a mechanism for organizing financial planning at enterprises is proposed. The need to improve the effective generation of cash flows in the long term is distinguished, taking into account strategic and long-term financial plans based on the scenario financial planning method.