Question

State the causes for financial innovation in the financial services sector

Answer 1

Explanation:

In simple words, the concept of “financial innovation” can be defined as making and promoting new financial products and services, developing new processes to facilitate financial activities, to interact with customers and to design new structures for financial institutions.

Answer 2

Answer -

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• Causes of Financial Innovations Low Profitability : In current scenario the profitability is very low, so every institution requires to maximize the profit by adopting new methods and technology

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