Formation of system providing financial services: current trends and prospects

Olena Goncharenko
Doctor of Economics, Associate Professor, Head of Financial Management and Stock Market Department, Odessa National Economic University, E-mail:engoncharenko@ukr.net

Olga Svitlychna
PhD in Economics, Associate Professor of Financial Management and Stock Market Department, Odessa National Economic University, E-mail:svetlihnayos@mail.ru

Cite this article:

Goncharenko, O., Svitlychna, O. (2016), Formation of system providing financial services: current trends and prospects. Ed.: M. Zveryakov (ed.-in-ch.) and others [Formuvannia systemy nadannia finansovykh posluh: suchasni tendentsii ta perspektyvy; za red.: M. I. Zveriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 2 (61), pp. 173–183.

Abstract

The article investigates and analyzes the current trends in the formation of the system of providing financial services. It is proved that the system of providing financial services play a crucial role in determining the competitive position of a financial institution in a particular market or its segment through adaptation of products to the demands and requirements of customers. Is grounded that today the effective operation of financial institutions is impossible without the use of modern Internet technologies. New technologies can increase the effectiveness of the relationship with the customers of financial institutions. Therefore, the development of financial web services is one of the most attractive and promising areas of e-business. The article defines the benefits that accrue to financial institutions due to participate in e-commerce systems, and discussed prospects for development of Internet services in various areas of financial activity.

Keywords

financial services; financial services market; Internet services; e-commerce.

JEL classification: G200;  DOI: https://doi.org/10.33987/vsed.2(61).2016.173-183

UD classification: 336.009.6

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