Financial security of banks in the digital space: current challenges and adaptation of financial instruments
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Дата
2025-11-03
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Видавець
Alfred Nobel University
Анотація
Introduction. Ensuring the financial security of banks in the digital environment is a key factor in maintaining the stability of the banking sector and overall macro-financial balance in the context of intensive digitalization. The rapid growth of electronic transaction volumes, the introduction of innovative financial technologies (FinTech), and the expansion of virtual ecosystems are transforming traditional approaches to managing banking processes, assets, and information infrastructure. This necessitates a rethinking of the paradigms of asset, data, and operational process protection, as a result of which financial security is viewed not only as a key indicator of the stability of individual banking institutions, but also as a systemic task that determines macrofinancial stability. There is an urgent need for a scientific rethinking of approaches to financial security in the digital space. This involves developing integrated strategies that combine technological solutions, adaptive financial instruments, effective risk management, and regulatory innovations (RegTech, SupTech). Systematic construction of cyber defense architecture, development of analytical platforms based on big data, and strengthening cryptographic information protection mechanisms are key vectors that will contribute to the consolidation of financial security and ensure the sustainable development of banks in a dynamic digital landscape.
Problem Statement. The transition to a dominant role of the digital space in the banking sector is accompanied by an escalation of multi-vector threats – both technical and regulatory. On the one hand, the intensification of the use of cloud computing, artificial intelligence and distributed ledger technologies increases vulnerability to cyber risks, including sophisticated phishing attacks, ransomware and targeted cyberattacks on critical infrastructure. On the other hand, the integration of financial and digital technologies (DeFi, Open Banking) generates new forms of interaction between market entities that do not always fit into the existing regulatory framework. Regulatory lags, the lack of unified cybersecurity standards, and fragmented supervision create the prerequisites for the accumulation of systemic risks.
Purpose. The purpose of the study is a comprehensive analysis of mechanisms for ensuring the financial security of banks in the digital space, taking into account modern challenges and the need to adapt financial instruments in the context of global digital transformation.
Materials and Methods. To achieve the goal, a systematic interdisciplinary approach was applied, combining: empirical methods (observation, comparison, description) – to analyze financial security practices in leading financial systems, as well as to identify global and national trends in the banking sector; theoretical and cognitive approach – to conceptualize f inancial security in the digital environment, formalize key concepts and test hypotheses regarding the impact of technological innovations on risk management strategies; logical methods (analysis, synthesis, induction, deduction, generalization, scientific abstraction) – to identify methodological problems, risks and opportunities for optimizing financial security in national and global contexts.
Results. The issue of ensuring the financial security of banks in the digital space is investigated, in the context of modern challenges and the need to transform financial instruments. Key threats to the banking sector have been identified and systematized, including cyber risks, technological vulnerabilities, regulatory fragmentation, and risks associated with the integration of financial and digital technologies. It is argued that the spread of innovations such as artificial intelligence, distributed ledger technologies, and cloud computing is shaping a new risk architecture that requires adaptive management and proactive regulation. Threats are identified as being complex and multifactorial, encompassing technical and systemic aspects, including IT infrastructure failures, phishing attacks, ransomware, and regulatory delays. Modern approaches to adapting financial instruments, in particular the integration of RegTech and SupTech, as a means of increasing cyber resilience and ensuring financial stability, are analyzed.
Conclusions. A conceptual model of adapting financial instruments to increase the resilience of banks and counter threats has been proposed. It was emphasized that financial security in the digital economy is a complex problem that requires a systemic approach, continuous updating of tools and strategic vision, opening up opportunities for sustainable development and increasing the competitiveness of banks.
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Ключові слова
digitalization, financial innovations, banking technologies, financial stability, цифровізація, фінансові інновації, банківські технології, фінансова стабільність