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In recent years, a growing amount of financial institutes are recognizing the need for a shift towards innovation. As new competitors that are small, agile and technology oriented are entering the financial services market, the need to innovate in order to stay ahead of the competition is almost a necessity.
Innovation in the financial sector can be realized in a few forms, and accomplish remarkable results: improvement of existing processes, that will lead to better efficiency or cost reduction; development of new products and services and implementation of new technologies, are just a few examples.
Innovation in the financial sector can be realized in a few forms and accomplish remarkable results