Neobanking as an Innovative Technology in the Financial Services Sector

The article outlines the features of the formation of the neobanking system as an innovative technology in the field of financial services. It is noted that the key basis for the development of the state's economy is its financial system, which is determined by the formation of effective financial relations, the development of banks in order to ensure balanced socio-economic development of the country and its regions. The necessity of forming a neobanking process is substantiated, the prerequisites of which are the rapid development of the Internet, the activation of financial technologies, changes in consumer preferences, the impact of global financial and economic crises, and global financial instability. Attention is focused on the fact that modern approaches to the formation of effective functioning of the financial sector concern innovative implementations. Neobanking processes are becoming more relevant, as the latest technologies, in particular online services, attract consumers with their accessibility and ease of use, having applications in various spheres of human activity. Particularly relevant for shaping the prospects for the development of the banking sector is the introduction of innovative digital technologies that allow for expanding the accessibility, confidentiality, and comfort of receiving financial services regardless of the client's location. The study confirmed that a neobank is a type of modern bank that operates exclusively on the Internet without traditional approaches to banking, primarily in the provision of financial services. Key features of the development of the neobanking sector in Ukraine are highlighted: rapid growth, high adaptability to technologies, competitiveness, support for small and medium-sized businesses, focus on customer experience, integration with other services. These features shape the attractiveness of neobanking in Ukraine both for individual users and for business as a whole. It is the processes of digitalization that allow for a rapid and adaptive increase in the level of automation in order to meet consumer demand for financial services.