By David T. Llewellyn, Reinhard H. Schmidt, Luisa Anderloni
This helpful publication discusses intimately, via a mix of idea and empirical learn, the procedures of innovation and the diffusion of latest monetary tools. The participants discover theoretical concerns equivalent to the connection between monetary innovation and marketplace constitution and the felony defense of monetary innovation. They study numerous themes on retail banking, from cost prone and tactics, patron credits, loans, on-line mortgages and credits scoring to profitability of retail banking. This accomplished ebook additionally specializes in innovation in company banking, resembling credits derivatives and their implications for the connection among banks and markets in monetary platforms.
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Extra info for Financial Innovation in Retail and Corporate Banking
On this basis, innovation can be broken down into the following categories: product or service innovation; innovation in production technologies; and organisational innovation. Innovation makes a direct contribution to reducing negative elements (costs or risks) as well as to enhancing positive ones (products, services, instruments equipped to better satisfy the demand side). Van Horne (1985) draws a pertinent distinction between ‘true’ and ‘presumed’ innovation in which the former is able to make markets more eﬃcient and more complete.
A further dimension and perspective has been oﬀered by the BIS: ‘The ability to switch smoothly between balance sheet financing and market-based financing contributes to the robustness of a financial system and improves its ability to deal with strain’ (Knight, 2004, p. 6). The overall assessment of the former Chairman of the Federal Reserve is that ‘these increasingly complex financial instruments have especially contributed to the development of a far more flexible, eﬃcient, and resilient financial system than existed just a quarter-century ago’ (Greenspan, 2002, p.
The term ‘financial innovation’ has a broad range of both implicit and explicit definitions. Roger (1995, p. 11) defines ‘innovation’ as ‘an idea, practice, or object that is perceived as new by an individual or other unit of adoption. It matters little, so far as human behavior is concerned, whether or not an idea is objectively new as measured by the lapse of time since its first use or discovery. The perceived newness of the idea for the individuals determines his or her reaction to it. If the idea seems new to the individual, it is an innovation’.
Financial Innovation in Retail and Corporate Banking by David T. Llewellyn, Reinhard H. Schmidt, Luisa Anderloni