The role of digital technologies in shaping modern international financial systems

Abstract

The objective of this article is to identify causal relationships between the implementation of specific digital tools–instant payment systems, blockchain registries, fintech platforms, and digital government services – and changes in the level of Ukraine’s international financial integration, as well as to justify practical approaches to harmonizing the national regulatory environment with EU standards (PSD2, SEPA, FATF) in conditions of geopolitical instability.

The study is based on systematic and comparative analysis, structural-functional methods, and the generalization of statistical data. A comprehensive analysis was conducted of the evolution of Ukraine’s payment infrastructure (SEP, Prostir, instant payment system), regulatory frameworks for cryptocurrencies and blockchain, the development of the fintech sector, the state of cybersecurity in the financial sector, as well as the functioning of digital government platforms as factors of financial inclusion and international trust.

It has been established that digital technologies have transformed from a supporting tool into a system-forming factor of the state’s financial stability: they ensured the continuity of cross-border settlements in crisis conditions and opened alternative channels for attracting international resources. It has been demonstrated that the implementation of PSD2 principles, SEPA standards, and FATF requirements has created a regulatory environment compatible with the European financial area and has significantly strengthened Ukraine’s reputation in international capital markets.

The digital transformation of Ukraine’s financial system is a key factor in its international integration. The strategic priorities for further development are: the introduction of the digital hryvnia, taking into account the architecture of the digital euro; expanding the compatibility of the national instant payment system with pan-European schemes; and deepening open banking through international fintech partnerships. Implementing these measures will allow Ukraine to solidify its role as a regional digital financial hub in the post-war period.