Digital transformation of marketing banking innovations in the conditions of financial instability

Victoriia Piddubna
Postgraduate Student of Banking Department, Odessa National Economic University, Ukraine, e-mail: poddubnaya.vika@gmail.com, ORCID ID: https://orcid.org/0000-0002-0956-5767

Cite this article:

Piddubna, V. Digital transformation of marketing banking innovations in the conditions of financial instability. Ed.: M. Zveryakov (ed.-in-ch.) and others [Tsyfrova transformatsiia marketynhu bankivskykh innovatsii v umovakh finansovoi nestabilnosti; za red.: М. I. Zvieriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 3 (67), pp. 209–221.

Abstract

The directions of special marketing tools using for ensure the banking business financial stability and the banks innovative activities orient not only to their opportunities, but also on the market needs, are formulated in the article. It is shown that the financial instability in the modern market determines the need of special marketing tools formation for innovations introducing. The options for digital and traditional marketing components combining, which will vary depending on the adopted business model and the state of the market product and price segments are developed. The stages of digital marketing of banking innovations development in Ukraine are investigated. An innovative orientation of the methods and forms of different types of management activities organization in bank marketing are clarified. The main components of digital ecosystem are summarized: social, mobile, analytical and cloud technologies. The research shows that over the past four years, Ukrainian banks have focused on how to bring some of these components and principles into basic business processing. The work of digital technologies marketing in banking sector is analyzed. The available applications of cloud technologies, which marketers have at their disposal for relationships managing, the information about potential customers tracking, a new channels testing and the marketing strategy effectiveness determining are substantiated. The directions of banking innovations introducing in the conditions of financial instability, the banks’ ability increasing to information resources effectively use, negative external and internal factors resisting, risks minimizing, maximum profitability maintaining, new banking technologies and products developing, competitive positions in the market and customer confidence maintaining, are proposed. The prospect for further research of Big Data and cloud services is the system approaches development in providing of cloud providers a convenient mechanism for data depersonalization and service security improving, is shown.

Keywords

marketing in banking sector; innovation; cloud technology; Big Data; automation.

JEL classification: G210; М310; DOI: https://doi.org/10.33987/vsed.3(67).2018.209-221

UD classification: 336.71:658.8

References

1. King, B. (2016). Bank 3.0. Why today the bank is not where you go, and that, what are you doing? Trans. from Eng. [Bank 3.0. Pochemu segodnya bank – eto ne to, kuda vy khodite, a to, chto vy delaete; per. s angl.], Olimp-Biznes, Moskva, 520 s. [in Russian]
2. Chaffey, B. D. Marketing Trends for 2016 – Will we be in a post-digital era? available at: http:// www.smartinsights.com/managing-digital-marketing/marketing-innovation/marketing-trends-2016.
3. Chernenko, O. (2016). On the way to post-digital marketing in Ukraine: problems and tasks [Na shliakhu do post-tsyfrovoho marketynhu v Ukraini: problemy ta zavdannia], Marketynh v Ukraini, No. 3, s. 4–11 [in Ukrainian]
4. Kozmenko, S. M., Shpyg, F. I., Voloshko, I. V. (2003). Bank strategic management [Stratehichnyi menedzhment banku], Universytetska knyha, Sumy, 734 s. [in Ukrainian]
5. Spitsyn, I. O., Spitsyn, Ya. O. (1993). Marketing in bank [Marketing v banke], Tarknes, Ternopol; TsMMS Pispayp, Kiev, 656 s. [in Russian]
6. Kuznetsova, L. V. (2015). Problems of processes activation of bank innovations development in Ukraine [Problemy aktyvizatsii protsesiv rozvytku bankivskykh іnnovatsii v Ukraini], Naukovyi visnyk Uzhhorodskoho natsionalnoho universytetu, Seriia: Мizhnarodni ekonomichni vidnosyny ta svitove hospodarstvo, No. 4, s. 9–13 [in Ukrainian]
7. Bataev, A. V. (2015). Prospects for the cloud automated banking systems introduction in financial institutions [Perspektyvy vprovadzhennia khmarnykh avtomatyzovanykh bankivskykh system v finansovykh instytutakh], Аktualni problemy ekonomiky, No. 4, s. 404–413 [in Ukrainian]
8. Bobil, V. V., Dron, M. A. (2014). «Cloud» technologies as a factor of the bank operational risk increasing [«Khmarnі» tekhnolohii yak factor zbilshennia operatsiinoho ryzyku banku], Bankivska sprava, No. 11/12, s. 47–62 [in Ukrainian]
9. Zveryakov, M. І., Kovalenko, V. V., Sergeeva, O. S. (2016). Managing of banks financial stability [Upravlinnia finansovoiu stiikistiu bankiv], TsUL, Кyiv, 520 s. [in Ukrainian]
10. Obst, G., Hintner, O. (1993). Geld-, Bank- und Börsenwesen: Ein Handbuch, Schöfer-Poeschel-Verlag, Stuttgart, 1331 s.
11. Egorycheva, S. B. (2007). Organization of banks activity in foreign countries [Orhanizatsiia diialnosti bankiv u zarubizhnykh krainakh], Tsentr navchalnoi literatury, Kyiv, 208 s. [in Ukrainian]
12. Nikitin, A. V., Bortnikov, G. P., Fedorchenko, A. V. (2006). Marketing in bank [Marketynh u banku], KNEU, Kyiv, 432 s. [in Ukrainian]
13. Blaug, M. (2004). Economics methodology or how economists explain. Trans. from Eng. V. S. Avtonomova [Metodologiya ekonomicheskoy nauki, ili kak ekonomisty obyasnyayut; per. s angl. V. S. Avtonomova], NP «Zhurnal Voprosy ekonomiki», Moskva, 416 s. [in Russian]
14. On the prohibition of WebMoney, YandexMoney, QIWI, Wallet і Wallet one («Uniform Wallet») electronic money using: telegram of the Board of the National Bank of Ukraine, No. 57-0002/90626, 07.11.2016 [Pro zaboronu korystuvannia elektronnymy hroshyma Webmoney, Yandeks.Denhy, QIWI, Wallet i Wallet one («Yedynyi hamanets»): telehrama Pravlinnia Natsionalnoho banku Ukrainy, No. 57-0002/90626, 07.11.2016], available at: https://24tv.ua/ru/nacbank_zapretil_ispolzovat_v_ ukraine_Webmoneyjandeksdengiiqiwiwalletn746515 [in Ukrainian]
15. 2017 Annual Report, Citi Group, available at: https://www.citigroup.com/citi/investor/quarterly/2018/ annual-report.
16. Bank Vostok was the first to implement the function of adding cards to the Masterpass wallet from Internet Bank [Bank Vostok pervym realizoval funktsiyu dobavleniya kart v koshelek Masterpass iz Internet-Banka], available at: https://bankvostok.com.ua/press/news/446-bank-vostok-pervym-realizoval-funkciyu-dobavleniya-kart-v-koshelek-masterpass-iz-internet-banka [in Russian]
17. Comprehensive program of Ukrainian financial sector development till 2020 [Kompleksna prohrama rozvytku finansovoho sektoru Ukrainy do 2020 roku], available at: https://bank.gov.ua/doccatalog/ document?id=18563297 [in Ukrainian]
18. Poddubnaya, V. (2014). Selection of advertising tools for a banking product [Vybor reklamnogo instrumentariya dlya bankovskogo produkta], Naukovyi visnyk ONEU, No. 2, s. 86–93 [in Russian]
19. Poddubnaya, V. G. (2016). Information economy influence on bank’s marketing opportunities development [Vliyanie informatsionnoy ekonomiki na razvitie marketingovykh vozmozhnostey banka], Materialy І Mezhdunarodnoy nauchno-prakticheskoy konferentsii, 27–28 maya 2016 goda, FOP Bondarenko M. O., Odessa, 364 s. [in Russian]
20. Piddubna, V. G. (2017). Information economy influence on banks marketing complex development [Vplyv informatsiinoi ekonomiky na rozvytok marketynhovoho kompleksu bankiv], Aktualni problemy sotsialno-ekonomichnykh system v umovakh transformatsiinoi ekonomiky: Materialy III Vseukrainskoi naukovo-praktychnoi konferentsii, 13–14 kvitnia 2017 r., NMetAU, Dnipro, Ch. 2, s. 208–213 [in Ukrainian]
21. Kovalchuk, S., Lazebnik, M. (2016). Marketing communication market of Ukraine: overview and development trends [Rynok marketynhovykh komunikatsii Ukrainy: ohliad ta tendentsii rozvytku], Marketynh v Ukraini, No. 3 (96), s. 18–33 [in Ukrainian]
22. Big Data. The next frontier for innovation, competition, and productivity, McKinseu Global institute, available at: https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/McKinsey%20 Digital/Our%20Insights/Big%20data%20The%20next%20frontier%20for%20innovation/MGI_big_data_ exec_summary.ashx.
23. Big Data Expert – Hadoop, Lloyds Banking Group, available at: https://careers.lloydsbankinggroup.com/ candidate/VacancyInformation.aspx?VacancyId=156916.
24. As Big Data from Kyivstar helps Praveks Bank to find clients [Kak Big Data ot Kievstar pomogaet Praveks Banku nakhodit klientov], available at: https://kyivstar.ua/ru/mm/news-and-promotions/kak-big-data-ot-kievstar-pomogaet-praveks-banku-nahodit-klientov [in Russian]
25. Almost half of Ukrainian companies using cloud technologies [Maizhe polovyna ukrainskykh kompanii vykorystovuie khmarni tekhnolohii], RBK-Ukraina, 16.02.2017, available at: https://www.rbc.ua/ukr/news/ polovina-ukrainskih-kompaniy-ispolzuet-oblachnye-1487263193.html [in Ukrainian]
26. SuperNovo – a reliable cloud from the cloudy servers operator No. 1 [SuperNovo – nadezhnoe oblako ot operatora oblachnykh serverov № 1], available at: https://supernovo.com.ua [in Russian]
27. Kirillov, I. Ukrainian market of cloud services [Ukrainskiy rynok oblachnykh servisov], available at: http://sib.com.ua/sib-3-94-2017/04-ukrainskij-rynok-oblachnyh-servisov-2016.html [in Russian]
28. Indicators of Ukrainian banks financial reporting [Pokaznyky finansovoi zvitnosti bankiv Ukrainy], Natsionalnyi bank Ukrainy, available at: https://bank.gov.ua/control/uk/publish/article?art_id= 34661442&cat_id=34798593 [in Ukrainian]
29. The payment cards market showed significant growth in 2016 [Rynok platizhnykh kartok u 2016 rotsi prodemonstruvav suttieve zrostannia], Natsionalnyi bank Ukrainy, 15.02.2017, available at: https://bank.gov.ua/control/uk/publish/article?art_id=44001494 [in Ukrainian]
30. Cadwalladr, C., Graham-Harrison, E. Revealed: 50 million Facebook profiles harvested for Cambridge Analytica in major data breach, The Guardian, 2018, 17 March, available at: https://www.theguardian.com/ news/2018/mar/17/cambridge-analytica-facebook-influence-us-election.