scholarly journals ПРОБЛЕМИ ТА ПЕРСПЕКТИВИ РОЗВИТКУ РИНКУ ФІНАНСОВИХ ПОСЛУГ В УКРАЇНІ

2014 ◽  
pp. 137-139
Author(s):  
З. П. Урусова ◽  
В. В. Ярмош ◽  
А. А. Урусов
Keyword(s):  
Economic Growth ◽  
Financial Market ◽  
Financial Services ◽  
Direct Investment ◽  
Regional Scale ◽  
Financial Service ◽  
Financial Resources ◽  
Service Market ◽  
Objective Basis

Ринок фінансових послуг є ринком, на якому відбу-вається обмін фінансовими ресурсами, надання кре-диту й мобілізація капіталу. Об'єктивною підставоюфункціонування фінансового ринку є неспівпадінняпотреби в фінансових ресурсах із наявністю джерелзадоволення цієї потреби. Ринок фінансових послуг –один із механізмів забезпечення конкурентоспромо-жності економіки країни, поскільки розподіл фінан-сових ресурсів на ньому відбувається на конкурент-ній основі, що дає можливість спрямувати інвести-ційні потоки у найбільш привабливі сеґменти еконо-міки й тим самим сприяти економічному зростанню.Саме тому у статті розглянуті й визначені факто-ри, що є визначальними для підвищення конкуренто-спроможності України на ринку фінансових послуг углобальному та регіональному масштабі. Financial service market is a market in which to exchange financial resources, the provision of credit and capital mobilization. The objective basis for the functioning of the financial market is different needs in financial resources, availability of sources of meeting this need. Market of financial services is one of the mechanisms for ensuring competitiveness of the economy, as the allocation of financial resources in this market takes place on a competitive basis, which allows direct investment flows in the most attractive segments of the economy and thus contribute to economic growth. That is why there are considered and identified factors that are crucial for increasing Ukraine's competitiveness in the market of financial services on a global and regional scale.

scholarly journals ANALYSIS OF THE READINESS OF INDONESIAN PEOPLE AND REGULATIONS IN HANDLING FRAUD ON TECHNOLOGY EXPLOITATION

2020 ◽  
Vol 5 (1) ◽  
pp. 33
Author(s):  
Mustika Prabaningrum Kusumawati ◽  
Ari Nur Rahman ◽  
Panzi Aulia Rahman ◽  
Henry Adrian Sumule ◽  
Endrojoyo Sigit Triyono
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Industrial Revolution ◽  
Technological Development ◽  
Modern Society ◽  
Financial Service ◽  
State Institutions ◽  
Positive Side ◽  
Use Of Technology ◽  
Economic Growth Factors

The development of information technology has a big influence in supporting business continuity among producers, consumers, distributors, and financial service institutions. The development of Financial Technology (Fintech) has now become a trend in modern society that follows the current developments. The positive side of technological development, especially in supporting fast and smooth financial services, can actually create a large gap in the readiness of the use of technology in the industrial revolution 4.0. Without strong preparation, this will increasingly create a big gap in the formation of the Fintech technology-based fraud chain. This paper discusses how a qualitative research using the grounded research model can find out the use of recht vacuum loopholes to commit fraud in the exploitation of technology. In addition, it also encourages the establishment of a regulation that supports the creation of a healthy Fintech ecosystem which is the main key in increasing Indonesia's economic growth. Factors influencing the occurrence of fraud include the lack of public knowledge about how to transact using Fintech, the looseness of applicable regulations, the arrogance of Fintech consumer in utilizing bug software Fintech to get profit as much as possible without thinking about legal consequences, the arrogance of the Fintech company in minimizing the large risks that will occur, and not maximum formation of the Fintech ecosystem with other traditional financial service institutions. The situation is exacerbated by the unavailability of the Whistleblowing System (WBS) through a complaint channel specifically for Fintech. The establishment of the Fintech ecosystem, with the adoption of an anti-fraud system as one of the factors that drive Indonesia's economic growth, can be done by creating a technology-savvy community, especially Fintech; making an integrity pact to support anti-fraud and anti-money laundering among regulators, the Fintech association, and the Fintech companies at the time of making official registration with the regulator; Regulators need to get rid of egotism between institutions by synchronizing verbally or nonverbally through technology channels that are automatically integrated between state institutions and preparing special channels for whistleblower systems or consumer complaints channel specifically for Fintech.

scholarly journals Marketing of Financial Service: Evidence from Nigeria Financial Market

2018 ◽  
Vol 2 (1) ◽  
pp. 31-46
Author(s):  
Lucky Anyike Lucky
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Service Marketing ◽  
Distribution Channels ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Internet ◽  
Marketing Environment ◽  
Financial Products ◽  
Growing Population

Nigeria financial market is emerging, the growth in institutions and products require a marketing strategy that will meet the needs of growing population. This study examined marketing of financial services. It discussed financial service products, segmentation of financial products, brands in financial market, financial service marketing environment, marketing of financial service through the internet, distribution channels of financial products, strength, weakness, opportunities and threat of Nigeria financial market, the needs for marketing of financial services, features of financial products and pricing of financial products. The study concludes that marketing of financial services is a determinant of financial inclusion, therefore policies and strategies should be advanced by management and regulators in the financial market.

scholarly journals FINANCIAL MARKET OF UKRAINE - A MODERN LOOK AT THE ESSENCE OF THE CONCEPT

2019 ◽  
pp. 13-20
Author(s):  
I. Blahun
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Financial Services ◽  
Basic Function ◽  
Insurance Companies ◽  
Financial Resources ◽  
Financial Intermediaries ◽  
Financial Instruments ◽  
Investment Funds ◽  
The Impact

The article presents a modern view of understanding of "financial market" concept, as the development of financial technologies gradually influences the change of paradigm of its functioning, new financial institutions, institutions of market infrastructure, financial instruments are emerging, as well as the development of forms of alternative financing. On the base of the systematization, it is determined that the term "financial market" in the current scientific literature is considered from three positions, first as a mechanism of distribution of financial resources, secondly, as a system of economic relations, and thirdly as a set of markets and institutions. As a result of the research on the contrary to the popular opinion that the financial services market and the financial market are two separate markets, it has been substantiated that the financial services market is a part of the financial market, because financial instruments are formed through the provision of financial services. The financial market and the market of financial services have common subjects - financial intermediaries (banks, insurance companies, non-government pension funds, investment funds, etc.), but at the same time the objects of these two markets are different. Financial instruments are objects for financial markets, and services – for the market of financial services. Through the process of financial services providing, financial intermediaries ensure the fulfilment of the basic function of the financial market, which is the redistribution of financial resources in the economy, thereby creating financial assets, liabilities, etc., which is the basis for the formation of financial instruments. Taking into account of the impact of fintech on the development of the financial market, author's definition was presented in this work as a system of financial institutions (market subjects), which create the conditions for transactions with financial instruments of economic agents (market objects) using appropriate infrastructure and financial technologies. Transfer of flows of financial resources in the economy at national, subnational and global levels, adequate assess of financial risks and ability to absorb exogenous and endogenous shocks were determined as a purpose of the functioning of the financial market. Keywords: fintech, financial instruments, financial institutions, financial services market, financial system, financial services..

Marketing Financial Services and Products in Different Cultural Environments

2018 ◽  
pp. 134-160
Author(s):  
Charilaos Mertzanis
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Financial Service ◽  
Marketing Strategies ◽  
Normal Operation ◽  
Cultural Environment ◽  
Concerted Effort ◽  
Goods And Services ◽  
Financial Products ◽  
Consumer Reaction

In this chapter, an analysis is presented of the conditions for effective marketing of financial services/products in different cultural environments. It is argued that financial services/products are not like other conventional goods and services/products: they exhibit special characteristics (i.e. intangible and risky). Thus, they should not be marketed to all financial consumers alike for they incur risks that are unsuitable for all consumers. Any associated capital loss may lead not only to consumer reaction but also might impair the normal operation of the financial market as a whole. Marketing efforts owe to take into consideration these characteristics and risks and effectively integrate marketing strategies with the carefully regulated issuance and distribution of financial products/services. Effective marketing of financial services requires a concerted effort on behalf of governments and financial service/product providers. Finally, marketing efforts must take into consideration the cultural environment within which marketing takes place.

SISTEM KOORDINASI ANTARA OTORITAS JASA KEUANGAN (OJK) DENGAN LEMBAGA PENJAMIN SIMPANAN (LPS) DALAM PENANGANAN BANK GAGAL

2017 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
WIWIN WINTARSIH WINDIANTINA
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Deposit Insurance ◽  
Banking Sector ◽  
Banking Industry ◽  
Financial Service ◽  
Financial Service Authority ◽  
Insurance Agency ◽  
Financial Transactions ◽  
The Impact

ABSTRACTThe banking industry is a dynamic sector along with economic growth, an increasing of complex financial transactions, and the impact from global trade, therefore the presence of an independent institutions is really needed. The Deposit Insurance Agency (LPS) is an institution that is independent, transparent and accountable in implementing its duties and authorities. As an independent agency, accountability is very important to be applied, so that stakeholders aware of what and how LPS implement the functions and duties as mandated by Law No. 24 of 2004 concerning the Deposit Insurance Agency (LPS). Procedurally, if the Financial Services Authority (OJK) indicate a bank that is experiencing liquidity problems, Financial Services Authority (OJK) immediately inform the Bank of Indonesia (BI) to take steps in accordance with BI's authority. In practise, Financial Service Authority (OJK) coordinate withBank of Indonesia (BI) to make regulatory supervision in banking sector. Coordination in handling between failed banks between the Deposit Insurance Agency (LPS) and Financial Services Authority (OJK) is shown by a confirmation from Financial Services Authority (OJK) to the Deposit Insurance Agency (LPS) about troubled banks that are in the restructuring efforts by Financial Services Authority (OJK), then the Deposit Insurance Agency (LPS) investigate the banks in accordance with its functions, duties and responsibilities. The Deposit Insurance Agency (LPS) as an institution that checks condition of banks surely will review and determine whether the troubled banks will be saved or not saved.

Financial behavior of households and its determinants

2019 ◽  
pp. 42-47
Author(s):  
Lidiya Dudynets ◽  
Hanna Holub ◽  
Roksolana Holub
Keyword(s):  
Financial Market ◽  
Financial Literacy ◽  
Financial Services ◽  
Economic Behavior ◽  
Financial Behavior ◽  
Financial Resources ◽  
Public Confidence ◽  
Compensatory Mechanisms ◽  
Low Level ◽  
Bank Card

The economic meaning of the term «financial behavior» has been researched. In this study, financial behavior is considered as a special type of economic behavior that is related to the actions of the population in the financial services market, which involves the mobilization, redistribution and investment of the population’s monetary resources. The classification of financial behavior of the population is considered. It should be classified on the basis of such features as the activity in the financial services market, the type of the result of financial behavior, the source of financial resources, the form of implementation, the instruments used in the financial services markets, the degree of risk, the propensity to innovate, the type of property of financial resources. The factors influencing financial behavior of households are analyzed, and the following types are distinguished: political, demographic, cultural, social, psychological, economic. The features of financial behavior of the population in Ukraine in comparison with other countries are determined. It has been established that the level of penetration of financial services is significantly lower than the world standards: on average, one Ukrainian has only one bank card and one current account in the bank, and the intentions of the population to save and invest are passive in nature. It is established that the greatest determinant of financial behavior, inclusiveness and literacy in Ukraine is the age and property status of financial services consumers. The problems, the solution of which will facilitate the increase of financial behavior of domestic households and their involvement in the financial market of Ukraine, are outlined. The main issues are as follows: 1) The absence of financial traditions and positive practices in financial activity in Ukraine, which is due to past historical development of the state; 2) Insufficient development of the financial market in terms of working with a private investor and limited supply of financial services to such clients; 3) Absence of the Institute of financial advisers; 4) The scope of application of compensatory mechanisms in the financial market; 5) Lack of effective tax incentives for citizen investments; 6) Low level of public confidence in financial intermediaries; 7) Disadvantages of providing market participants with the necessary financial information; 8) Low level of financial literacy of the population.

scholarly journals THEORETICAL ASPECTS OF FINANCIAL MARKET FORMATION AND ANALYSIS OF ITS ACTIVITY IN UKRAINE

2021 ◽  
Author(s):  
Natalya Tataryn ◽  
Marta Bida ◽  
Iryna Batsman
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Financial Services ◽  
Banking Sector ◽  
Insurance Companies ◽  
Financial Resources ◽  
Economic Sectors ◽  
Insurance Premiums ◽  
Economic Relations ◽  
Effective Development

Our article is devoted to the theoretical aspects of the formation of the financial market and analysis of its activities in Ukraine. In economic essence, the financial market is a set of economic relations associated with the distribution of financial resources, purchase and sale of temporarily free cash and securities. The purpose of the financial market is to provide enterprises with appropriate conditions for attracting the necessary funds and selling temporarily free resources. Effective development of the financial market will ensure the formation of investment processes, increase GDP in the country, as well as create opportunities for the development of various economic sectors. In view of this, the article fully reveals the essence of the concept of the financial market through the definition of domestic and foreign scientists. Theoretical bases of activity of the financial market in Ukraine, and also use of the basic functions (namely tasks) and the principles applied on it are considered. The role of objects and subjects of the financial market is defined. Among the objects are various market instruments, which reflect the temporarily free funds (financial resources) of the subjects of the financial services market, which include the state, households, financial and non-financial institutions. In particular, the activities of financial market entities that are most active in Ukraine, namely financial institutions, which include commercial banks and insurance companies, are analyzed. The dynamics of the number of changes in banking institutions and insurance companies is studied. A comparative description of the dynamics of revenues and expenditures of the banking sector for 2015-2019, as well as current information for January-September 2020. A comparison of the main indicators of insurance companies in the domestic market for the first quarter of 2019-2020, namely: the volume of gross insurance premiums, the volume of net insurance premiums, the share of net insurance premiums, as well as the number of insurance contracts. Based on the results of the study, the directions of improving the financial market in Ukraine are proposed.

scholarly journals Methodological tools for the integral assessment of financial availability in the context of digitalization of financial markets

2020 ◽  
pp. 15-34
Author(s):  
Л. К. Васюкова ◽  
А. Е. Литвиненко
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Market ◽  
Financial Literacy ◽  
Financial Services ◽  
Financial Inclusion ◽  
Market Potential ◽  
The Russian Federation ◽  
Integral Assessment ◽  
Physical Accessibility

Гармоничное направление развития финансового рынка – это такое направление, при котором финансовая доступность способствует экономическому росту. Приоритетность развития доступности финансовых услуг в Российской Федерации была определена президентом ещё в 2007 г. и подтвердилась в 2010 г., когда Россия приняла на себя обязательства, задекларированные «Сеульским консенсусом Группы 20 в области развития для обеспечения всеобщего роста», которые касались развития инфраструктуры, роста доступности финансовых услуг. Развитие финансового рынка неразрывно связано с мерами по формированию инфраструктуры предоставления финансовых услуг, повышению финансовой грамотности граждан и предпринимателей, формированию устойчивого платёжеспособного спроса на финансовые услуги, эффективной защиты прав потребителей и т.д. Особое значение в вопросе доступности финансовых услуг занимает механизм её оценки. В статье предлагается методический инструментарий интегральной оценки доступности финансовых услуг. Авторы предлагают рассматривать финансовую доступность как многомерный динамический объект, потенциал которого рассчитывается по комплексу показателей, характеризующих разные компоненты финансовой доступности с учётом особенностей развития финансового рынка страны или региона, в том числе уровня цифровизации региональных финансовых рынков. Авторами представлены результаты проверки гипотезы о наличии взаимосвязи между финансовой доступностью и таким макроэкономическим показателем, как экономический рост. Ключевые слова: финансовая доступность, интегральный показатель, востребованность финансовых услуг, цифровизация финансового рынка, потенциал, компоненты финансовой доступности, потребитель финансовых услуг; физическая доступность, методический инструментарий. A harmonious direction for the development of the financial market is a direction in which financial inclusion contributes to economic growth. The priority of de-veloping the financial services accessibility in the Russian Federation was determined by the President back in 2007 and was confirmed in 2010, when Russia assumed the commitments declared by the "Seoul Consensus of the Group of 20 in the field of development for universal growth", which related to the development of infrastructure and availability of financial services. Development of the financial market is inextricably linked with the measures to form the infrastructure for the provision of financial services, increase in the financial literacy of citizens and entrepreneurs, creation of a stable solvent demand for financial services, effective consumer protection, etc. The mechanism of its assessment is of particular importance in the issue of the availability of financial services. The article proposes a methodological toolkit for the integral assessment of the availability of financial services. The authors suggest considering financial accessibility as a mul-tidimensional dynamic object, the potential of which is calculated by using a set of indicators characterizing different components of financial accessibility, taking into account the peculiarities of development of the financial market in a country or a region, including the level of digitalization of regional financial markets. The authors present the results of testing the hypothesis that there is a relationship between financial affordability and a macroeconomic indicator such as as economic growth. Key words: financial availability, integral indicator, demand for financial services, digitalization of the financial market, potential, components of financial inclusion, consumer of financial services; physical accessibility, methodological tools.

scholarly journals ACCOUNTING SUPPORT OF THE FINANCIAL ASSET MANAGEMENT AT THE ENTERPRISE

2019 ◽  
pp. 116-130
Author(s):  
Oksana LIUBAR
Keyword(s):  
Financial Market ◽  
Asset Management ◽  
Financial Services ◽  
Financial Resources ◽  
Financial Asset ◽  
Financial Assets ◽  
Accounts Receivable ◽  
Economic Information ◽  
Financial Investments

Financial assets are one of the key categories of the financial world. Different segments of the financial market (credit, stock, currency, financial services market) are characterized by different categories of financial assets, the circulation of which mediates the movement of funds both within the country and abroad. Effective movement of financial resources nationally or internationally is performed under involvement of financial assets. As a rule, obtaining or control of financial assets determines the motivation of participants of the financial or commercial transactions. The essence of financial assets as an economic category is revealed. The main characteristics of the financial asset are presented. It is established that financial assets for accounting purposes should be defined as money and their equivalents; long-term and current financial investments; accounts receivables for products (goods), services, bills received; accounts receivable for the purchase of financial investments, accounts receivable under loan agreements. Special attention is paid to the procedure of accounting of financial assets at the enterprises, covering the process from the initial registration of the economic information to reporting.

Marketing Financial Services and Products in Different Cultural Environments

2015 ◽  
pp. 232-267
Author(s):  
Charilaos Mertzanis
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Financial Service ◽  
Marketing Strategies ◽  
Normal Operation ◽  
Cultural Environment ◽  
Concerted Effort ◽  
Goods And Services ◽  
Financial Products ◽  
Consumer Reaction

In this chapter, an analysis is presented of the conditions for effective marketing of financial services/products in different cultural environments. It is argued that financial services/products are not like other conventional goods and services/products: they exhibit special characteristics (i.e. intangible and risky). Thus, they should not be marketed to all financial consumers alike for they incur risks that are unsuitable for all consumers. Any associated capital loss may lead not only to consumer reaction but also might impair the normal operation of the financial market as a whole. Marketing efforts owe to take into consideration these characteristics and risks and effectively integrate marketing strategies with the carefully regulated issuance and distribution of financial products/services. Effective marketing of financial services requires a concerted effort on behalf of governments and financial service/product providers. Finally, marketing efforts must take into consideration the cultural environment within which marketing takes place.

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