УДК: 336.7

DOI: https://doi.org/10.36887/2415-8453-2023-4-24

Dunska Alla,
Doctor of Economics, Professor,
National Technical University of Ukraine
«Igor Sikorsky Kyiv Polytechnic Institute»,
Lagodiienko Vladislav,
Higher Education Student, National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute»,
Ovsiuchenko Yurii,
PhD in Economics, Associate Professor,
Kharkiv National University of Radio Electronics,

JEL classification: B26, J62

In the conditions of globalization of the financial services and financial systems market, an urgent issue for a fintech company is the problem of forming and implementing an international development strategy, considering the most critical aspects and challenges. Specific aspects include regulatory constraints, cross-country competition, technological innovation, adaptation to local financial systems, strengthening cyber security, and building strategic partnerships. Developing an effective action plan is a crucial factor for the successful global development of a fintech company. The article examines the main aspects of the international development strategy of fintech companies and highlights the main challenges they face. It was determined that one of the most critical aspects in this context is considering the differences in regulatory acts in different countries and their impact on the strategic planning of fintech companies. Another vital aspect is technological innovation: fintech companies must not only have technological solutions but also be ready to implement new technologies, such as artificial intelligence, blockchain, etc. All this allows you to create competitive advantages and satisfy the ever-increasing demand for fast, convenient, secure financial services. It is justified that, first, companies should study the political, economic, and socio-cultural aspects of each country in which they plan to work since the presence of different regulations and cultural features can significantly affect the strategy’s success. Challenges also include the need to manage cyber security. Based on a comprehensive approach, considering the peculiarities of the global financial market, the main elements of the strategy of international development of a fintech company are proposed. The main directions of this strategy are innovative technologies, flexibility in interaction with regulators, and consideration of the peculiarities of national markets.

Keywords: financial technologies, fintech companies, financial services market, digital technologies, fintech services.


  1. Andjelic, These Fintech Statistics Show an Industry on the Rise. Available at:https://fortunly.com/statistics/fintech-statistics/.
  2. Pochenchuk,M. (2017). «Financial technologies: development and regulation». Elektronne naukove fakhove vydannia Mukachivs’koho derzhavnoho universytetu. Ekonomika i suspil’stvo. Issue 13. рр. 1193-1200. Available at:http://economyandsociety.in.ua/journal/13_ukr/200.pdf.
  3. Rozvytok fintekhu v Ukraini. [Development of fintech in Ukraine]. Available at:https://bank.gov.ua/ua/about/develop-strategy/fintech2025.
  4. Stratehiia rozvytku finansovoho sektoru Ukrainy. [Strategy for the development of the financial sector of Ukraine]. Available at:https://bank.gov.ua/ua/news/all/strategiya-rozvitku-finansovogo-sektoru-ukrayini.
  5. Scho take fintekh i iak vin vplyvaie na vashe zhyttia vzhe s’ohodni? [What is fintech and how does it affect your life today?]. Available at:https://www.epravda.com.ua/projects/fintech/2018/12/5/641431/.
  6. Kovalenko,M. Tendentsii rozvytku fin tech na mizhnarodnykh i natsional’nykh finansovykh rynkakh v umovakh tsyfrovizatsii ekonomiky. [Development trends of fin tech on international and national financial markets in conditions of digitalization of the economy]. Available at:http://baltijapublishing.lv/omp/index.php/bp/catalog/download/304/8436/17851-1?inline=1.
  7. The Pulse of Fintech H1 2022. Available at:https:// https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2022/08/pulse-of-fintech-h1-22.pdf
  8. Hryhorash,, Voloshyn, I. (2023). «Trends in the development of financial technologies under the influence of the pandemic and war». Ekonomika ta suspil’stvo. Issue 47. Available at:https://economyandsociety.in.ua/index.php/journal/article/view/2176/2102.
  9. Il’chuk,H., Kots’, O.O., Kolosovs’ka, I.V. (2021). «Fintech companies: the current state and prospects of influence on the development of the financial market of Ukraine». Derzhava ta rehiony. Seriia: Ekonomika ta pidpryiemnytstvo. №5 (122). рр. 46-53. Available at: www.econom.stateandregions.zp.ua/journal/2021/5_2021/9.pdf.
  10. Demchyshak,B., Hudyma, R.P. (2021). «The development of fintech in Ukraine and the world based on the use of blockchain and artificial intelligence technologies». Efektyvna ekonomika. № 6. Available at:www.economy.nayka.com.ua/pdf/6_2021/4.pdf.
  11. Havrylko,O., Antonova, R. (2020). «Fintech: foreign experience and peculiarities of development in Ukraine». Naukovyj visnyk Uzhhorods’koho natsional’noho universytetu. Issue 29. рр. 17-22.

The article was received 22.09.2023