VALUE-CREATING PROPERTIES OF THE PLATFORM BUSINESS MODEL OF FINANCIAL CORPORATIONS IN THE CONDITIONS OF DIGITALIZATION

Abstract

The article examines the peculiarities of the platform as an effective business model of financial corporations in the conditions of digitalization. The types of multilateral platforms were considered and their ability to produce a network effect in the process of interaction of platform participants was investigated. The process of creating added value in the platform business and the mechanism of generating and monetizing profit on the platform are analyzed. Based on the results of the analysis, the following features of the platform that ensure the creation of added value are highlighted: a network effect that generates profits that are close in nature to monopoly profits; the ability to grow exponentially by benefiting from a positive cross-network effect; the ability to generate several types of income, in particular, increasing value by reducing transaction costs and sharing resources; transformation of vertically integrated production complexes into a horizontal network of entrepreneurs, coordinators, consulting firms, etc.; economy based on the joint use of resources and the collective creation of a product, which partially blurs the boundaries between demand and supply ("Collaborative economy"). A comparative analysis of the linear business model and platform was conducted. It is shown that in the conditions of the development of electronic and digital technologies, the platform becomes an integral element of modern business architecture as a "connecting and providing" type of business model. The general typology of multilateral platforms is studied, where platforms are divided into four categories: transactional, innovative, investment and integrated. It is shown that platform ecosystems of financial corporations in Ukraine are built mainly around e-Commerce and e-transfers and concentrate both on the introduction of new remote financial service channels and on improving the quality of existing ones and their optimization. Examples of the use of such platforms by international financial corporations are given. The main value-creating services of digital platforms of financial corporations include integrated payments, business management software, inventory, payroll, card issuance, instant transfers; such financial solutions as loans for working capital (and/or factoring programs), offering customers installments at retail outlets, attracting customers (CRM tools), managing marketing programs.