Digital Transformation of Strategic Management Mechanisms of the State Financial System: Potential, Limitations, and Implementation Directions (Herald of Khmelnytskyi National University Economic sciences)

Summary

• Digital tasks are present in 2 of the 5 strategic goals of Ukraine's national financial sector development strategy.p.1
• A comparative analysis of strategic documents across 30 central banks and regulators shows that 23 of 30 adopt a mixed strategic focus.p.3
• The average number of strategic goals among the 30 analyzed central banks and financial regulators is 5.8.p.3
• Academic literature systematically evaluated 71 supervisory digital tools implemented across 20 jurisdictions.p.2
• The 2025 resilience assessment by the National Bank of Ukraine covered 21 banks that accumulate over 90 % of sector assets.p.4
• Out of 5 systemic problems of strategic management in Ukraine, 3 are amenable to digital solutions.p.1

Key insights

1. Digital transformation initiatives should target specific management bottlenecks rather than simply evaluating success by technology adoption volume.p.1
2. Ukraine's financial strategy details digital tasks for external services and internal regulatory efficiency, but lacks details for interagency coordination.p.1
3. Three systemic strategic management issues in Ukraine—goal fragmentation, weak interagency coordination, and regulatory asymmetry—have information-coordination roots and can be addressed digitally.p.1
4. Systemic problems stemming from political-institutional dependence or structural market imbalances cannot be solved by digital tools alone.p.1
5. More than half of documented supervisory digital tools focus on processing qualitative information, extending oversight to textual reporting datasets.p.2
6. Empirical studies confirm that participation in regulatory sandboxes increases funding attracted by fintech companies.p.2
7. Digital transformation implementation must follow a mandatory 5-step sequence, starting with bringing data to an analyzable state before acquiring analytical systems.p.5