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№ 6/2019№ 6/2019 | Fìnansi Ukr. 2019 (6): 118–128https://doi.org/10.33763/finukr2019.06.118 | MONETARY POLICY SOKHATSKA Olena 1, KYRYLENKO Serhii 2 1Ternopil National Economic University
OrcID ID : https://orcid.org/0000-0002-6535-549X
2West Ukrainian National University
OrcID ID : https://orcid.org/0000-0002-8895-0494
Improving banking services in the context of ensuring financial inclusion
The subject of this study is the phenomenon of financial inclusion interpreted as a universal access of population to a broad range of financial services, the most prevalent among which are banking services. The goal of the article is to develop theoretical substantiations and elaborate practical recommendations for incorporation of financial inclusion into the process of improving the retail banking services for the purpose of creating better access to banking products and services. The research is based on using the methods of analysis and synthesis, generalization, abstraction, statistics, and interview. The study considers quantitative characteristics of the state of financial inclusion in Ukraine, recognizing the population’s generally insufficient level of financial literacy, financial inclusion and access to basic financial services. Based on the performed interview study, the authors identified a number of tendencies that characterize financial inclusion across population with a breakdown into gender and age groups classified by the level of education, the field of activity and the place of residence. The authors suggest a set of measures for the improvement of the retail banking services provided to customers in the context of enhancing their financial inclusion, emphasizing the need for increasing the accessibility of banking services, increasing customer engagement with new banking products, speeding up the development of non-cash payments, improving the quality of banking products and technologies, forming the standards of service quality in banks, ensuring the protection of banking customer rights, as well as increasing the level of financial literacy among the population. The theoretical significance of research findings is revealed in deeper understanding of the essence and ways of ensuring financial inclusion from the perspective of retail banking services improvement. The elaborated suggestions have practical relevance and can be instrumental in improving the retail banking business and forming the customer-centric approach to retail banking services. Keywords:financial inclusion, financial literacy, retail banking services JEL: G21, M31
Sokhatska O. . Improving banking services in the context of ensuring financial inclusion / O. . Sokhatska, S. Kyrylenko // Фінанси України. - 2019. - № 6. - C. 118-128. | Article original in Ukrainian (pp. 118 - 128) | Download | Downloads :271 |
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