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Financial innovation is the
process of creating new
financial or investment
products,
services, or processes.
Financial innovation comes, in
particular, via advances in
financial instruments,
technology, payment systems,
risk management,
credit
and equity generation.
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Example:
Banking as a Service (BaaS)
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Digital technology
has helped to transform the financial services
industry, changing how we save, borrow, invest,
and pay for goods. These
innovations have increased the number of
financial providers available to consumers,
borrowers, and businesses.
Major financial innovations have come in the
raising of equity capital, remittances, and
mobile banking.
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Areas that financial innovation
is transforming
Mobile Banking
Baking as a Service (BaaS)
Investment Crowdfunding
Remittances
Cryptocurrenciy
Robotic Process Automation (PRA)
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