Modern approaches to the mention and peculiarities of banking competition in the financial services market

Abstract

Within the article, modern approaches to the interpretation of defining the essence of the concept of “banking competition" was provided and the author's definition of the above category was proposed. In addition, a comparative analysis of banks and their main competitors in the financial services market, which are non-bank financial (insurance companies, credit unions, pawnshops, leasing companies, pension funds, etc.) and non-financial institutions (post offices, construction companies, etc.) were conducted. On the basis of scientific sources peculiarities of banking competition in the present conditions were determined.