Bank Roadmap 2020 - research on the digital transformation of Ukrainian banks

According to this study, neobanks are more successful in the digital space than traditional banks. So, in the latter, it is necessary to use the advantages that modern technologies provide and become more convenient and accessible to customers.

The study identified three main components of the transformation of banks, namely:

• digital experience - is how convenient it is for a client to use bank services, for example, shake a smartphone to transfer money;

• digital business - active involvement of third-party developers in the creation and implementation of their banking products;

• digital innovations - continuous improvement of their products and services, their digitalization and automation.

According to the authors, these are the things that will help traditional banks compete with neobanks. The study also contains a survey of 10 large Ukrainian banks on digital transformation issues.