GENESIS OF THE DEFINITION OF BANKING SERVICES: GENERAL AND SPECIFIC

Abstract

The article is devoted to determining the essence of the genesis of banking services in the context of the competitiveness of banks in the financial services market. Attention is focused on such basic categories as “banking service”, “banking operation” and “banking product”. A structured author's classification of banking services is proposed in accordance with the product approach. This expansion and deepening of the classification of banking services makes it possible to streamline banking services to increase their competitiveness, which is necessary in terms of understanding the formation of the financial behavior of the banking institution as a whole. The findings can be used in developing a set of measures aimed at maintaining and ensuring the competitiveness of banks in the process of corporate transformation of their activities. An expanded interpretation of substantive competition in the banking sector is proposed, depending on the segment of the banking market; the essential content and significance of external and internal factors that determine the place of the banking system in the financial services market are revealed.