PRIORITY DIRECTIONS OF INNOVATION IN BANKING BUSINESS DEVELOPMENT MANAGEMENT

Abstract

банкиThe article examines the importance of innovation in the management of banking business development to ensure the effective functioning of the bank in the financial market. The world tendencies of banking innovations are analyzed and the directions of application of innovations in management of development of banking business, namely local, global, strategic, tactical, product, technological, market, organizational and managerial, resource are formed. The choice of innovations in the management of banking business development begins with the goals and objectives of innovative development of the bank within the chosen mission of the bank (specific innovation benchmarks), analysis of external and internal conditions, finding resources for innovation and their effective distribution. The choice of innovations in the management of banking business development according to its methodology is similar to the development of a strategy for managing the development of banking business. Practical recommendations for the application of the proposed areas are also offered, which allow to specify the choice of areas of application of innovations in the management of banking business development depending on the expected results of the bank. It is determined that the main role of innovative development of banking business at the present stage is the favorable impact of innovations on the bank's activities, which are aimed at making a profit, increasing the bank's competitiveness, increasing bank confidence and efficiency. Today, the banking business is in the development stage. However, it is slowly introducing innovative products. Note that if domestic banks continue to follow this course, they will be able to become competitive in the international banking market, significantly improve the quality and speed of services, each service will be differentiated according to customer needs, which will only have a positive impact on banking. These theoretical issues, which were considered in the article on the application of innovations in the management of banking business development, will be useful to further analyze the development of banking business and increase the efficiency of banks in the financial market.