Key trends in European retail banking and prospects for their development in Ukraine

Abstract

The modern banking sector of Ukraine is subject to technological influ- ences from the financial services market of Western Europe. The article identifies key strategic directions for banking business development in the conditions of rapid technological change and transformation of the financial service consumption model. The study aims to identify the modern tendencies in banking and the prospects for implementing separate models and instruments in view of the realities of the domestic retail banking practice. The study reveals the main principles of building customer-oriented strategies in European banking. The author studies practical aspects of using new information technology as a marketing tool in the context of sales growth in the retail banking sector. In having performed the analysis of the world experience and its impact on the marketing models of domestic banks, the author identifies and suggests main directions for further development of the domestic banks that are focused on providing services to private individuals and population in general.