Innovation in the Banking World

Abstract

Intense competition in the banking sector ensures continuous product and service development. This development through technology returns as an element that improves technology. The continuation of this cycle reveals new ideas, new inventions, new models, and new ways of doing business every day. As a result of innovative activities, innovative applications are being introduced in the banking sector, which is the most competitive sector in many countries. Changing consumer demands, young generations using technology and masses that are not yet open to this change stand out as factors that trigger innovation activities. Important steps are being taken as a result of the sector's willingness and ability to innovate. In this study, the innovation process in the banking sector, where the future is structured today, is discussed. It is aimed to examine and reveal the changes occurring in the banking sector within the framework of technological change and development. The findings obtained as a result of the research show that the sector is open to innovation and its support will continue.