Financial Innovation or Purposeful Finance?

Lizbeth Suarez-Morales () and Christian Solórzano
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Lizbeth Suarez-Morales: Universidad Bolivariana del Ecuador
Christian Solórzano: Instituto Superior Tecnológico Bolivariano de Tecnologías

Chapter Chapter 6 in New Perspectives in Economics and Management, Vol 1, 2026, pp 83-92 from Springer

Abstract: Abstract This study analyzes the convergence between financial innovation and finance with purpose in a cooperative, the objective is to delineate approaches, characterize mechanisms for generating social and financial value and propose an integrative impact assessment framework. The methodology: exploratory design with mixed approach; a Likert questionnaire was applied to 150 partners, the instrument presented high reliability (α = 0.93). The results represent gender parity and predominance of adults of productive age (82.2%); 83.2% are confident in the ethical use of resources; 70.3% report improvement in quality of life; 42.6% indicated difficulties of access; 86.1% requested training in impact finance. Technological innovation acts as an enabler to integrate ESG criteria, but its effect depends on participatory governance, rigorous measurement, training and simplification of processes. A protocol is proposed, which articulates committee of purpose, hybrid products, technological platform and a dual scorecard of financial and social performance. Financial innovation can facilitate the materialization of purposeful finance if it is accompanied by effective governance, transparency and training programmers that allow a double verifiable return and external follow-up.

Keywords: Financial innovation; Purposeful finance; Impact investment; Social value creation (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-032-29260-5_6

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DOI: 10.1007/978-3-032-29260-5_6

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