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The Theoretical Provisions of the Functioning of Lending Institutions in the Context of Customization of the Financial Services Sector
Dubyna M. V., Potseluiko I. V., Shvets M. A.

Dubyna, Maksym V., Potseluiko, Ihor V., and Shvets, Maksym A. (2024) “The Theoretical Provisions of the Functioning of Lending Institutions in the Context of Customization of the Financial Services Sector.” Business Inform 9:342–350.
https://doi.org/10.32983/2222-4459-2024-9-342-350

Section: Finance, Money Circulation and Credit

UDC 336.73:33.06

Abstract:
The development of the lending services market plays a key role in creating conditions for the economic development of Ukraine. Without the effective functioning of such a market, it is impossible to create favorable conditions for the intensification of economic activity of the main economic entities in the country. That is why the governments of developed countries pay considerable attention to the development of the relevant markets and especially to the regulation of the supply of borrowed funds on these markets by financial institutions. The current trend of digitalization of the financial services sector expands the capabilities of lending institutions in their own activities, increasing productivity and efficiency. The active use of such technologies makes it possible to automate a significant number of routine operations to be carried out within such institutions. Also, information and communication technologies contribute to improving the quality of lending services and, accordingly, form new conditions and directions for its provision. At the present day, these technologies enable to gradually introduce the principle of customization into the activities of lending institutions and thereby increase the level of customer satisfaction with lending services. Accordingly, the article analyzes the essence of customization of lending services, which is implemented on the basis of a detailed study of the content of «customization» as a separate concept used in the study of the features of the provision of various services to economic entities; the essence of «customization of financial services» is substantiated and explained, and its specific features are allocated. Based on a detailed consideration of the impact of the ongoing war on the functioning of lending services, as well as a description of the features of the economic activity of lending institutions, the peculiarities of customization of lending services in the current conditions are determined. Taking into account the specification of the content of such customization, it is proposed to consider it as a process of adaptation of the conditions for granting loans to different economic entities, taking into account their individual characteristics, capabilities and needs. The article also pays considerable attention to the study of the impact of customization of lending services on ensuring the competitiveness of lending institutions in the financial services market. The advantages of introducing the principle of customization into the activities of these institutions are specified.

Keywords: lending institution, lending services market, customization, personalization, customization of financial services, lending service, customization of lending services.

Fig.: 2. Bibl.: 18.

Dubyna Maksym V. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance, Banking and Insurance, National University «Chernihiv Polytechnic» (95 Shevchenka Str., Chernihiv, 14035, Ukraine)
Email: [email protected]
Potseluiko Ihor V. – Postgraduate Student, Department of Finance, Banking and Insurance, National University «Chernihiv Polytechnic» (95 Shevchenka Str., Chernihiv, 14035, Ukraine)
Email: [email protected]
Shvets Maksym A. – Postgraduate Student, Department of Finance, Banking and Insurance, National University «Chernihiv Polytechnic» (95 Shevchenka Str., Chernihiv, 14035, Ukraine)
Email: [email protected]

List of references in article

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Popelo, O. V., and Dubyna, M. V. “Potentsial vykorystannia tekhnolohii shtuchnoho intelektu v diialnosti kredytnykh ustanov“ [The Potential of Using the Artificial Intelligence Technology in the Activities of Credit Institutions]. Aktualni problemy rozvytku ekonomiky rehionu, vol. 2, no. 20 (2024): 232-244. DOI: https://doi.org/10.15330/apred.2.20.232-244
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