Subject. The article addresses banking ecosystems being a result of integration processes of the credit market and technological development. Such transformations lead to new business models, forms of cooperation and communication. Therefore, business ecosystems and environmental factors impacting them, require a thorough analysis to model the future direction of these phenomena development. Objectives. The study aims to identify external and internal environmental factors of banking business that had the greatest impact on ecosystems development. Methods. We employ general scientific methods of comparison and generalization, methodological, statistical, and graphical analysis of empirical data, marketing methods for studying the business and competitive environment, the SWOT analysis of strengths and weaknesses, opportunities and threats to ecosystems functioning. Results. Following the assessment of the banking business environment, we systematized into two groups (external and internal) the environmental factors of ecosystems that had the maximum impact on processes of transformational change, identified strengths and weaknesses of ecosystems, and correlated the influence of factors on the level of digitalization of the banking sector. Conclusions. The article provides an empirical analysis of business environment for banking ecosystems functioning, identifies the main factors that model the further transformation of the banking business and their impact on digitalization of the sector. Consideration of underlying environmental factors will help ecosystem participants to interact most effectively in the financial and non-financial markets. The findings will enable banking analysts to build forecasts and scenarios for future development of the ecosystem model of banking business, to assess potential opportunities and threats to the industry.
Keywords: business environment, ecosystem, bank, risk, SWOT analysis
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