Банки и финансови иновации – теоретични основи (Theoretical Foundations of Innovation in Banking and Finance)

The present article aims to give a short overview of the theoretical concepts of innovation in the financial industry. It shows that innovation holds an important place and is seen as a major factor in the evolution of financial services, economic and social development.The goal of the article is to point out the crucial importance of financial innovation for the future of the banking system, the economic development, as well as the development of society as a whole. The conclusion is that, based on the theoretical foundations, financial innovation is a key factor of choice of practical approaches for increasing the profitability and efficiency of banking