banking innovation

Banking innovation refers to the introduction of new technologies, services, and processes that improve how banking is conducted. This includes digital tools like online and mobile banking, contactless payments, and automated financial advice. Such innovations make banking more convenient, faster, and secure by reducing the need for physical branches and manual procedures. They also enable banks to offer personalized products and better security measures. Overall, banking innovation enhances customer experience and operational efficiency, shaping a more accessible and responsive financial system.