DEVELOPMENT OF THE BANKING SPHERE IN UKRAINE AS A DIGITAL ECOSYSTEM

The paper is devoted to the study of the problems of the banking sector development as a digital ecosystem in Ukraine, since with the transition to «open banking», which is now taking place in most countries of the world, the banking paradigm has changed and there is a need for its transformation based on the introduction of digital technologies. The banking sector of Ukraine is also undergoing transformation processes associated with the creation of banking ecosystems. The provisions of the PSD2 Directive do not apply to Ukraine, but in July 2019, the NBU announced the need to reform the national payment legislation, in accordance with the requirements that were reflected in the Directive, and it began to gradually introduce some of its provisions into Ukrainian legislation. In Ukraine, in comparison with other countries, the fintech market is developing at a very slow pace, which is explained, among other things, by the policy of the NBU, which does not respond quickly enough to the emergence of new fintech products/services, changes in market conditions; it conducts strict regulation of the activities of fintech startups. Moreover, the legislative acts that are in force in Ukraine make it difficult to bring innovative products/services to the market. The Fintech Ecosystem Model of Ukraine 2025, which was developed by the NBU, is based on four key elements: regulation and policy, capital, demand, and talent. These elements within the ecosystem are in a constant process of interaction and they provide support for innovation from inception to the regulation of innovative products, services, and their capitalization. On November 12, 2020, the Verkhovna Rada was presented with a draft of the Law on Payment Services (No. 4364), in the drafting of which the requirements and norms of European regulatory acts were taken into account: the Second Payment Directive (PSD2) and the E-Money Directive (EMD). With the adoption of this law, it will be possible to resolve a number of issues related to the development of banking ecosystems in Ukraine.