Diachenko V. Financial innovations in the management of banking institutions in the context of globalization

Dyachenko Viktor Vasylyevych. Financial innovations in the management of banking institutions in the context of globalization. – Qualification scientific work in the form of a manuscript. Dissertation for the degree of Doctor of Philosophy in the field of knowledge 07-Management and Administration in the specialty 072 – Finance, Banking and Insurance − Sumy National Agrarian University, Sumy, 2026. The modern world financial architecture is in a state of permanent transformation, caused by the synergy of globalization and the fourth industrial revolution. The emergence of FinTech technologies, blockchain, artificial intelligence and Big Data has radically changed the landscape of the banking business. For Ukraine, the relevance of the study is enhanced by extreme external shocks: the COVID-19 pandemic and full-scale military aggression. In these conditions, financial innovations become not just a tool of competition, but a strategic resource for survival, ensuring the stability, cybersecurity and inclusiveness of the banking system. The research is integrated into the scientific topics of Sumy National Agrarian University, in particular into the project "Models of financial services created based on NFT protocols" (2021-2025) and the Czech-Ukrainian initiative to strengthen the potential of postgraduate students (2022). The purpose of the research is to theoretically substantiate and develop methodological tools for managing financial innovations to increase the sustainability and economic efficiency of banking institutions in the context of globalization. The scientific novelty of the dissertation lies in the formation of a holistic concept of innovation management, which is adapted to the conditions of the digital economy and military risks. The main results that constitute novelty: 1. The definition of "financial innovation in the banking sector" has been improved. A comprehensive approach is proposed, where innovation is considered simultaneously as a result (new product), a process (digital implementation) and a management goal (capitalization growth). For the first time, a distinction is introduced into a narrow meaning (functional-capital approach to the product) and a broad meaning (strategic impact on the bank's intellectual capital). 2. A multi-criteria classification is developed based on the market behavior model (ordinary or innovative) and functional content (IT, product, adaptive, functional innovations). 3. In contrast to narrow financial models, a four-vector assessment model is proposed: o Economic: through the net cash flow per client (CF/C) indicator. o Scientific and technical: based on expert rating assessment of novelty. o Social: through the level of financial inclusion and staff satisfaction. o Budgetary: effect for the state financial system. 4. The use of dynamic panel data (GMM modeling) allowed us to prove a significant impact (on average 0.17%) of financial innovations on the growth rates of regional GDP and gross capital formation in Ukraine. 5. The transition from reactive risk management to the concept of “anticipatory adaptation” based on the triad: “client-centricity – innovation tolerance – organizational agility” is substantiated. In the first section “Theoretical and methodological principles of managerial financial innovations in the banking sector”, the fundamental theoretical basis of the study is formed. The author critically reviews the evolution of innovation theories, starting from the concept of “creative destruction” by J. Schumpeter to modern approaches to the digital economy. It is substantiated that in the conditions of globalization, financial innovation is turning into a complex multidimensional category. The need to distinguish between narrow and broad approaches to its interpretation is proven: • in the narrow sense, it is a technologically advanced product (for example, an NFT protocol or a smart contract) offered to a client. • in the broad sense, it is a strategic change in the bank's architecture itself, aimed at increasing its intellectual capital and adaptability. Special attention is paid to the development of methodological principles for analyzing efficiency. The author proposes to move away from exclusively financial metrics (NPV, IRR) in favor of an integrated assessment that includes scientific and technical novelty, social impact (financial inclusion) and budgetary efficiency. A theoretical model of the life cycle of banking innovation is formed, where each stage (from idea to implementation) is accompanied by a specific set of management filters and control points. The second section, “Analysis of the state of innovative development in banking institutions of Ukraine,” is devoted to a comprehensive diagnosis of the domestic banking sector in extreme conditions (2014–2024). The analysis showed that despite military aggression and the pandemic, the sector maintained operational stability due to “digital immunity.”