MODERN TOOLS FOR ENSURING THE FINANCIAL STABILITY OF COMMERCIAL BANKS
Keywords:
innovation, benchmarking, financial sustainability, efficiency, competition, business-processesAbstract
The article discusses promising innovative tools for ensuring the financial stability of commercial banks, namely benchmarking. The presented research is devoted to the ability of banks in a dynamic and unpredictable market environment, financial globalisation to ensure stable operation and fulfil their own obligations in order to retain and conquer specific segments of the financial market, as well as to ensure financial security in the country.
The essence and understanding of the properties of the category of benchmarking as an instrument for increasing the competitiveness and improving the development of banking institutions in the world space are considered in detail. In particular, the article theoretically substantiates the expediency and rationality of using benchmarking to improve the efficiency of commercial banks' functioning and activities.
The article provides a comprehensive approach to innovative instruments of financial sustainability of banking institutions, which should take into account the vector of economic growth and continuous improvement of the solvency strategy and performance indicators.
It is concluded that it is necessary to apply tools based on benchmarking, which will ensure the improvement and enhancement of innovative methods of management decision-making aimed at the rationality and efficiency of business process management. It will provide an opportunity to gain competitive advantages, continuous search and adaptation to the competitive environment, steadily develop a business strategy, and increase the efficiency of activities in the face of environmental fluctuations.
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