A research paper exploring innovation in the financial sector.
Written in 2007; 7,745 words; 19 sources; MLA; $ 168.95
Paper Summary:
The paper explains that institutions that develop a constant flow of innovation remain competitive in today's evolving global environment, particularly in the banking sector. The paper examines the existing literature of financial innovation and more specifically, the drivers of innovation in the retail banking sector. Finally, the paper suggests considerations for further research.
Outline:
Abstract
Innovation in the Financial Sector
Drivers Noted in the Existing Literature
Further Research Regions
From the Paper:
"As existing literature reviews the financial industry (see for example Fagerberf 2004, Tufano 2002 and Frame and White 2004 Frei, Harker and Hunter (1998)), it focuses on financial innovations such as financial instruments and derivatives products. These studies explore innovation from the economist's point of view and focus on the relative conditions. This contrasts with the attention paid by companies, albeit where innovation is considered "very important," as well as a priority for the next 2 years (BAI survey , 2006). This concept also disparages new positions created as Chief Innovation Officer, formed in banks such as Bank of New York. The industry, nevertheless recognises banks' efforts with the presentation of awards to the most innovative banks and/or products and services."
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