INNOVATIONS AS A TOOL OF SUSTAINABLE DEVELOPMENT OF THE BANKING SECTOR

Development of innovations in the banking sector will improve the functionality of the financial system; will provide conditions for diversification of the economy. The article substantiates the need to introduce innovations in the banking sector, which have a significant impact on the sustainable functioning of banking institutions. The analysis made it possible to count for different approaches of scientists to the content of innovations, to reveal the features of their implementation in the activities of large and small banks, to identify possible risks associated with the introduction of innovations in the financial sphere. The paper concludes that innovation should be considered as a set of results, processes and effects aimed at the creation and dissemination of innovations, to increase customer satisfaction of banks. In the article, with regard to banking institutions as part of the development of new and modification of existing banking products, the technique of introducing innovations on the basis of the Kano model is adapted, which is used to assess the degree of satisfaction and loyalty of consumers. Its application in practice will optimize the traditional business model of the organization of banks, systematize the products and services offered by banks, reduce material and time costs.

bank, banking system, sustainable development, banking innovation, basic innovation, combinatorial innovation, modifying innovation, banking products, banking services, innovation risks, Kano model.

Mitrokhin V. V., Gribanov A. V. Innovations as a tool of sustainable development of the banking sector // Business. Education. Law. 2018. No. 3 (44). P. 127–134. DOI: 10.25683/VOLBI.2018.44.348.