Use of financial technologies by banks for development of financial inclusion

Kharchenko Anatoliy
PhD in Economics, Associate Professor, Associate Professor of the Department of Finance and Accounting of Cherkasy Educational and Scientific Institute of the Banking University, Cherkasy, E-mail:Kharchenko85@gmail.com, ORCID ID: https://orcid.org/0000-0002-5832-7714

Stepanenko Oleksandr
Master of Banking, Cherkasy Educational and Scientific Institute of BU, Cherkasy, E-mail:a1ex1step21@gmail.com, ORCID ID: https://orcid.org/0000-0002-1515-3726

Cite this article:

Kharchenko A., Stepanenko O. (2021) Use of financial technologies by banks for development of financial inclusion. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Rozvytok finansovoi inkliuzii cherez vykorystannia novitnikh finansovykh tekhnolohii u bankivskii sferi; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 9-10 (286-287), pp. 60-64.

Abstract

The paper examines the problems of financial inclusion, which is a prerequisite for the formation of a model of inclusive growth in the banking sector. The economic content of financial inclusion as an indicator of the availability of financial services for the population is revealed. The directions of promoting financial inclusion in Ukraine are outlined, which will improve the quality of financial services for consumers who already have access to them (system of protection of financial services consumers' rights) and expand the provision of basic financial services to those who do not have access at all. This study also considers the existing approaches to assessment of financial inclusion. The most used is the World Bank methodology Global Financial Inclusion (Global Findex). The indicators are drawn from survey data collected by Gallup, covering about 150,000 adults in more than 140 economies and representing about 97 percent of the world’s population. In this aspect, the use of financial technologies has been identified as an effective tool for increasing the level of financial inclusion.

Keywords

financial inclusion, inclusion in the banking sector, financial inclusion in the banking sector.

JEL classification: G210; DOI: 10.32680/2409-9260-2021-9-10-286-287-60-64

UD classification: 336.719

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