An important scientific task of clarifying the theoretical foundations, improving scientific and methodological approaches and developing practical recommendations to ensure the competitiveness of banks through the implementation of banking innovations to improve their financial performance, organization and management in terms of increasing competition and disintermediation in the financial services market was solved in the dissertation.
The prerequisites of increased attention to the study of banks' competitiveness in the financial services market are identified. The approaches to the definition of the "bank competitiveness" concept are critically analyzed, its types and new classification criteria are presented.
The main reasons that hinder the bank long-term competitiveness are identified, a descriptive model of the content structure of the integrated approach to its provision is built, the methodological foundations of the bank's competitiveness system are outlined.
Complex relationship between innovation, competition and competitiveness is established, the author's interpretation of the concept of "innovation" is given, proved the importance of banking innovations, the typology and facet classification are proposed. The prerequisites and characteristics of innovation competition of banks are determined, the essence of bank innovative competition and innovative competitiveness is presented.
The financial market innovative trends and innovation practice as a factor influencing on the banks competitiveness are comprehensively analyzed.
The diagnostics of the domestic banks competitive environment led to the conclusion that: intra-industry competition occurs mainly between banks included in the TOP-10; main competitors of banks among non-bank financial institutions are financial companies for microcrediting, pawnshops, credit unions; banks compete with high-tech companies that seek to provide financial services. Assessment of the competitiveness of banks according to Herfindahl-Hirschman indicators and concentration ratios for assets and liabilities the possibility of increasing the monopolization in the banking sector is established.
The conceptual foundations of the mechanism for increasing the competitiveness of banks based on the implementation of banking innovations in the context of digitalization are developed. The formation of a new system of relations between market participants on the basis of competitive cooperation based on the model of an innovative strategic alliance between banks and high-tech companies is substantiated, the result of which is banking innovations, and functional relations are built at the level of a technological basis, a frontal system for promoting them in the market and building relationships with customers. Proposed scientific and methodological approach for assessing the effectiveness of the functioning of strategic alliances through determining the total economic effect, calculated by quantitative indicators of assessing the components of the process of functioning of a strategic alliance, namely the effects of the reputation component, optimizing customer service, reducing financial costs associated with the development of banking innovations within strategic alliance and exchange of information resources.
The bank's competitiveness system is received further development in part of the subsystem that managing implementation of banking innovations, ensuring constant monitoring of the competitiveness level, organizational and economic mechanism as a set of mechanisms for managing goals, diagnostics, decision-making and control.
The proposals for the formation of a pro-competitive environment focused on innovation, improving the regulatory framework, implementation of organizational and technical measures and creating conditions for the functioning of new market participants, shifting competition towards competitive cooperation are given.
The recommendations for banking innovations implementation, which are focused on improving: strategic management based on artificial intelligence; business models based on platform and ecosystem approaches; mortgage lending through the construction of a digital multi-brand ecosystem on the basis of a strategic alliance, securitization of assets, competitive positioning in the financial market are given.
A scientific approach is developed to predict the impact of banking innovations on competition in the financial market and its competitiveness on the basis of economic and mathematical modeling.
It’s proved that using the developed approaches, applying the theoretical, scientific and methodological provisions, practical recommendations for the implementation of banking innovations in the banks activities will promote their competitiveness.
Key words: finance, financial market, innovations, banking innovations, innovative activity, competition, competitive position, competitive advantages, competitiveness.
