INNOVATIONS IN INSTITUTIONAL ENSURING THE DEVELOPMENT OF THE CREDIT MARKET OF UKRAINE

The article examines the issue of introducing innovations to ensure the development of the credit market of Ukraine, defines the directions of introducing innovations related to digitalization processes, remote creditor-consumer relationships. The impact of modern technological and organizational innovations on the functioning of credit institutions is analyzed. It was established that modern technological and organizational innovations significantly improved the functioning of credit institutions, contributing to the growth of their competitiveness. The importance of the legal and regulatory environment for promoting innovation in the financial sector and ensuring stability and confidence in the credit market is substantiated, and stability and confidence in the credit market are important for attracting investment and developing the economy. It was determined that in the modern conditions of digitization and access to high-speed Internet, bank online lending has received further development and new formal rules have been implemented that improve the stability of credit unions, which contributes to the security of consumer lending processes. The importance of the introduction of digital and peer-to-peer (P2P) lending is noted. It has been established that digital lending associated with the development of fintechnologies and big technologies when implemented can compete with bank lending or complement it depending on the maturity of the regulatory and supervisory institution, the established institutional conditions for access and guarantees. The important role of state support in the implementation of state lending programs and the expansion of access to business lending on the basis of sustainable development is substantiated. A conclusion was drawn on the directions for the implementation of innovations that will ensure the development of the credit market in the conditions of Ukraine's integration into the EU, in particular: legislative initiatives to create conditions for the development of the institution of bank lending and non-bank lending in terms of improving trust, accessibility, transparency and guarantees, improving regulation and prudential supervision; state support for access to credit in the form of targeted preferential state credit programs and transparent policy of the NBU; introduction of new types of lending, gradual introduction of P2P lending on a competitive basis.