FINANCE INNOVATIONS
FINANCE INNOVATIONS

Summary/Abstract: Financial innovation, especially the application of information and communication technologies, has already revolutionised the financial industry and will continue to do so in the future.The general definition of innovations explains that they appear when new ideas, solutions and instruments are implemented in order to change the conditions of business entity and to improve its situation. The concept of “financial innovation” can be defined as making and promoting new financial products and services, developing new processes to facilitate financial activities, to interact with customers and to design new structures for financial institutions.

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