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Aleksandra Stankovska (), Savica Dimitrieska () and Elizabeta Stamevska ()
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Aleksandra Stankovska: European University, Skopje, Faculty of Economics
Savica Dimitrieska: European University, Skopje, Faculty of Economics
Elizabeta Stamevska: European University, Skopje, Faculty of Economics

Economics and Management, 2019, vol. 16, issue 2, 51-57

Abstract: Financial innovation, especially the application of information and communication technologies, has already revolutionised the financial industry and will continue to do so in the future.The general definition of innovations explains that they appear when new ideas, solutions and instruments are implemented in order to change the conditions of business entity and to improve its situation. The concept of “financial innovation” can be defined as making and promoting new financial products and services, developing new processes to facilitate financial activities, to interact with customers and to design new structures for financial institutions.

Keywords: Finance Innovation; Model; Literature Review (search for similar items in EconPapers)
JEL-codes: O31 D53 (search for similar items in EconPapers)
Date: 2019
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