The economic meaning of the term «financial behavior» has been researched. In this study, financial behavior is considered as a special type of economic behavior that is related to the actions of the population in the financial services market, which involves the mobilization, redistribution and investment of the population’s monetary resources. The classification of financial behavior of the population is considered. It should be classified on the basis of such features as the activity in the financial services market, the type of the result of financial behavior, the source of financial resources, the form of implementation, the instruments used in the financial services markets, the degree of risk, the propensity to innovate, the type of property of financial resources. The factors influencing financial behavior of households are analyzed, and the following types are distinguished: political, demographic, cultural, social, psychological, economic. The features of financial behavior of the population in Ukraine in comparison with other countries are determined. It has been established that the level of penetration of financial services is significantly lower than the world standards: on average, one Ukrainian has only one bank card and one current account in the bank, and the intentions of the population to save and invest are passive in nature. It is established that the greatest determinant of financial behavior, inclusiveness and literacy in Ukraine is the age and property status of financial services consumers. The problems, the solution of which will facilitate the increase of financial behavior of domestic households and their involvement in the financial market of Ukraine, are outlined. The main issues are as follows: 1) The absence of financial traditions and positive practices in financial activity in Ukraine, which is due to past historical development of the state; 2) Insufficient development of the financial market in terms of working with a private investor and limited supply of financial services to such clients; 3) Absence of the Institute of financial advisers; 4) The scope of application of compensatory mechanisms in the financial market; 5) Lack of effective tax incentives for citizen investments; 6) Low level of public confidence in financial intermediaries; 7) Disadvantages of providing market participants with the necessary financial information; 8) Low level of financial literacy of the population.
The article investigates the concept of retail in banking sphere. The term «retail» is related to the processes and mechanisms for the sale of goods and services to end users. In this article, the peculiarities of retail development in Ukraine has been analyzed. It is determined that the segment of retail in Ukraine is currently forming and improving. Therefore, in this area the domestic banks can form their own competitive advantages and cover new segments of the market. For the development of retail in today’s conditions there are certain features: omnichannel trade, digital experience, personalization, new formats of remote inspection. Retail development, under such conditions, is based on the provision of electronic banking services. Namely, with using of such services as provided with the help of bank cards; remote bank customer service. Domestic banks are increasingly using Open Banking, which makes it possible: to develop new solutions using FinTech. The paper outlines perspective directions of retail development by Ukrainian banking institutions. In particular, a partnership between banks and retail companies is promising for banks, which promises additional benefits and opportunities. Perspective is the creation of an innovative division model. Innovative models of the future departments, take on different forms: outlets, automated offices and service centers, etc. The common thing for them, is that the office space is changing substantially. From the place of the transactions they turn into a place for communication and sale of banking products and services. Determinative for banking institutions is the development of multi-channel retail, which implies the simultaneous use of several sales channels, such as offline and online branches, mobile devices, TVs, in order to maximally optimize the process of providing banking services to potential customers. For multi-channel retail banking, the following components are required: sufficient and reliable information on banking services, real-time updates of information on the bank’s website, competitive and flexible tariffs, interest rates for services rendered, a system of risk minimization, and the social part, the feedback (user reviews, comments in social networks, etc.). The formation of a product line of banking retail is based on traditional and non-traditional banking services. The authors define the system of formation a retail banking product line, and defines its main components and benchmarks.
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