Importance Of Financial Innovation

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Abstract With the rapid development of financial integration, financial innovation has become a top priority the development of commercial banks. In this paper, “Financial Innovation”, the main line, from the implications of financial innovation, character, purpose, effect and in-depth analysis. Modern society, financial development has become an important factor in economic development, with a great driving force. The financial innovation system is the financial development of the internal drive. Therefore, the question of financial innovation system, with theoretical and practical significance. Keywords: Financial innovation, commercial bank, the concept of innovation, system innovation, business innovation, technology innovation. Introduction…show more content…
• Damage to the property and premises due to such theft or any attempt thereat. This product has been offered in the recent years by Zurich in Malaysia due to a several reasons: 1. Malaysians has more awareness now days about the necessarily of protecting not just their money and health but also their properties and belongings. 2. Increasing in burglary and theft accidents in the last few years, Unfortunately Malaysia has become much less safer than before and breaking in and arm robberies have been witnessed more lately which generated the need of the burglary insurance. 3. Takaful has put a very reasonable price for this insurance, for only RM 100 customers will get the burglary insurance. 4. Safety reasons, when a person has his/her property insured from burglary, he or she will feel safer. 5. Burglary insurance started to become well known worldwide, and it was the right time and opportunity for Zurich to offer this product. Overseas travel protection by AXA: This insurance can be applied online and will be obtained after 24 hours of the time of the…show more content…
2-5). It is commonly known that financial and technical innovations are bound together and they evolve together over a time. As on the one side, the financial innovations provide mechanism to finance innovative technological projects when traditional sources of funds are unavailable due to high investment risk. And on the other hand, the technological and economic progress resulting in the higher complexity of business processes and new types of risk forces the financial system and financial markets to adopt to the changes, to be modernized according to the new requirements of the business entities and to the challenges of the modern

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