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22 J. Legal Ethical & Regul. Isses 1 (2019)
Electronic Banking as a Prospective Directive for the Financial Services Market Development

handle is hein.journals/jnlolletl22 and id is 1487 raw text is: Journal of Legal, Ethical and Regulatory Issues ELECTRONIC BANKING AS A PROSPECTIVE DIRECTIVE FOR THE FINANCIAL SERVICES MARKET DEVELOPMENT Olena Tykhonova, National Academy of Internal Affairs Nataliia Lytvyn, University of the State Fiscal Service of Ukraine Volodymyr Ivantsov, Kharkiv National University of Internal Affairs Kateryna Chyshko, Kharkiv National University of Internal Affairs Anna Yarosh, University of the State Fiscal Service of Ukraine ABSTRACT The article is dedicated to the research of electronic banking essence as a perspective direction of financial services market. The analysis of recent publications and studies are dedicated to the peculiarities of e-banking in different countries, as well as problematic aspects of introduction and promotion of e-banking in Ukraine and in the world has been carried out. The current state of legal regulation of the provision of services through electronic banking has been studied according to the legislation of Ukraine and foreign countries. It is established that widespread use of electronic banking by clients is restrained by the issues of security and confidentiality of transactions in electronic banking, by legal relations provision in the sphere of providing services by the bank through electronic banking, and citizens' confidence in electronic banking. The emphasis is on the priority steps towards the promotion of e-banking as a direct development of the financial services market. Keywords: E-Banking, Online Banking, Financial Services, E-Commerce. INTRODUCTION The globalization of the banking industry highlights the importance of reorienting banks to the client and the digital environment in order to meet the requirements of community development (McKinsey Global Banking Annual Review, 2016). One of the results of such a reorientation is the introduction of electronic banking as a type of remote banking service, which is possible in case the customer has got an Internet connection. For today, it is the electronic banking that allows individuals and legal entities constantly monitor the status of their accounts regardless of their location, to consolidate all their accounts, optimize costs, and for the banks to save on advertising and customer service costs directly at the bank branch. However, in all countries, the implementation policy of e-banking is not the same. Today, researchers are paying attention to the fact that the development of e-banking is restrained by the low level of customer trust in banks in general, the increase in the number of fraudsters carried out through the tools of electronic banking, the problem of maintaining the confidentiality of client-banking operations provided by the bank through electronic banking, and so on. At the same time, such factors that impede the widespread use of electronic banking Business Laws and Legal Rights: Research and Practice Volume 22, Special Issue 2, 2019 1 1544-0044-22-SI-2-379

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