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Theoretical Foundations of Innovation in Banking and Finance

Author

Listed:
  • Valery Beltchev

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The present article aims to give a short overview of the theoretical concepts of innovation in the financial industry. It shows that innovation holds an important place and is seen as a major factor in the evolution of financial services, economic and social development. The goal of the article is to point out the crucial importance of financial innovation for the future of the banking system, the economic development, as well as the development of society as a whole. The conclusion is that, based on the theoretical foundations, financial innovation is a key factor of choice of practical approaches for increasing the profitability and efficiency of banking

Suggested Citation

  • Valery Beltchev, 2020. "Theoretical Foundations of Innovation in Banking and Finance," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 92-104, March.
    • Handle: RePEc:nwe:iisabg:y:2020:i:1:p:92-104
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    File URL: https://www.unwe.bg/doi/alternativi/2020.1/ISA.2020.1.08.pdf
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    More about this item

    Keywords

    innovation; banks; periodization; digital revolution; public good; Pareto optimum; social expenses; profitability; regulation;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General

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