Innovation in banking should be directed at improving the infrastructure that fosters efficient financial services and international trade. In this work, innovation theory is used to show how modern payment systems have transformed the technology of banking and facilitated changes in the strategy and structure of financial services organisations. Design, implementation and dissemination of payment systems are described and the analysis of their costs and benefits is combined with case studies of banks undergoing change. By studying firm capabilities, competencies, and resources, the approach is extended to services in general and linked to the ability of firms to compete and promote national economies. Payment systems vary and advanced and developing economies face obstacles in their legal and technical infrastructure, and maturity of banks. By adopting an international perspective, the book offers a unique comparative analysis that shows what kind of investments are likely to be effective.

This book presents in its first part the financial determinants of innovation processes considered in a macro-economic perspective, which are limited by short-term constraints, and studies in its second part the linkages existing between the necessity to innovate in order to survive and the constant attention given to financial results.

Innovation, the conversion of the new to business as usual, is a very special business process. It is the business process able to reprogram all others. Creating the practices that make this process work is a key challenge for all in financial services that are worried about responding to the future. When an institution can identify things that are outside its present practices and convert them, production line style, into products, processes, cultural changes, or new markets, it will never be outpaced by internal or external change again. The institution becomes "FutureProof". This is a book about those practices in banks. It explains, using examples from institutions around the world, what it takes to create an innovation culture that consistently introduces new things into undifferentiated markets and internal cultures. It shows how banks can leverage the power of the new to establish unexpected revenue lines, or make old ones grow. And it provides advice on the social and political factors that either help or hinder the germination of the new in banks. Moreover, though, this is a book about the science of innovation in a banking context. Drawing from practices already highly developed in financial services—managing portfolios of assets to mitigate risk—it explains how practitioners can run their innovations groups like any other business line in the bank one that delivers a return on investment predictably and at high multiples of internal cost of capital. For leaders, Innovation and the Future Proof Bank provides the diagnostic tools to guide benchmarking and investment decisions for the innovation function. And for innovation practitioners, the book lays out everything needed to make sure that converting the new to business as usual is predictable, measurable, and profitable.

This book investigates the motivations behind the adoption of the technique of asset securitization by US commercial banks and its effects on the financial performances.

Discusses through a blend of theory and empirical research, the processes of innovation and the diffusion of new financial instruments. This book explores theoretical issues such as the relationship among financial innovation and market structure and the legal protection of financial innovation.

As Ignazio Visco, Governor of the Bank of Italy, says in his Foreword, all economic policy makers today need to re-examine our history to help them confront the challenges of today. This edited volume focuses specifically on the theme of financial innovation and how financial resiliency was achieved in Naples. To highlight both the achievements of the public banks of Naples and their lessons for financial resiliency, the book focuses on financial crises and how they were overcome in Naples in contrast to other European financial systems. The first section focuses on the development of the public banks unique to Naples. The second section compares those with other banking systems and how they responded to the same shock in 1622, caused by the full mobilization of European belligerents to finance their efforts in the Thirty Years War. The next section compares lessons learned in the rest of Europe over the next century and a half. The final section comes back to original start of the narrative arc to suggest ways that today’s policymakers and thinkers could use the historical experience of the public banks of Naples to deal better with the ongoing problems stemming from the financial crisis of 2007-08.

The Independent Evaluation Group found that the World Bank Group s investment in innovation can be enhanced through systemic efforts, and presented recommendations for the Bank Group, including examining alternative approaches for financing start-ups and promoting knowledge sharing.

This book, with contributions by both leading scholars and industry experts, provides a coherent framework for understanding complex determinants and patterns of industry competitiveness. Divided into eight parts, it covers both quantitative and qualitative research on the following topics: technologies, economic development, and human resources in Industry 4.0; management in the digital economy; artificial intelligence and knowledge management approaches; drivers of sustainable and innovative development in corporations; resilient and competitive systems in the energy sector; compliance and anti-corruption mechanisms; and competence networks and technological integration. Thanks to its highly stimulating discussions on the determinants and patterns of industry competitiveness, this book appeals to a wide readership.