Summary on the theme of master's work

Relevance of the topic

Innovative technologies in the modern economy play a crucial role in relation to the acquisition and maintenance of the strengths of the banking institutions in the competition. Attitude to them is largely determined by the position as the major banks from around the world, both large and small, regional banks that have recently appeared on the market. In the Ukrainian banking sector where new technologies are less widely distributed than in the west, and few lenders are actively involved in their implementation. The use of innovative technology, successfully implemented in their operations by Western organizations, will allow Ukrainian banks to optimize their internal business processes and improve productivity of their employees. In the future, it gives significant competitive advantage, able to attract new customers and increase its presence in the banking market. Thus, the introduction of innovative technologies is one of the most important areas to improve the operational activities of the bank.

Relevance of the strategy for innovative products in a commercial bank and improve the efficiency of innovation through the use of building science and technology disclosed in many of the works of foreign and domestic scholars and practitioners. Most researchers focus attention on issues of formation and development of innovation management, as well as the problems of the effective use of innovative potential in the current model of market economy. This issue devoted to the works of scholars such as Ivan T. Balabanov, T. Bryan, F. Valenta, SB Egorycheva, MI Krupko, T. V. Mayorov, G. Mensch, PP Mikityuk, A. Prigogine, B. Santo, BG Seniv, B. Twist, K. Freeman, F. Jansen, V. Yu Yakovets and others. However, we can state that in modern Russian literature no coherent concept of the formation of the system of innovation management, especially in the area of strategy for the use of innovative products in a commercial bank.

The object of study

The process of forming a strategy for innovative products in a commercial bank.

The subject of the study

The principles and methods of forming the strategy of using innovative products in a commercial bank.

Goals and objectives

The goal - the development of theoretical frameworks and methodological approaches to the development strategy of using innovative products in a commercial bank.

To achieve the objectives of the work, the following tasks:

Research methods. The methodological basis of the study was the work of contemporary domestic and foreign scholars in the field of economics, regional economics, strategic and innovation management, economic analysis, banking and others. The information base for the study were normative legal acts of Ukraine, the official materials of the State Statistics Committee of Ukraine.

Scientific results of the work lies in the development of theoretical frameworks, methodological approaches and shaping the strategy of using innovative products in a commercial bank.

The practical significance of these results is to provide specific suggestions to improve the efficiency of innovation bankivskoy areas that could be implemented in the banking sector. Implementation of the results of research will effectively form an innovative strategy of banks and the implementation of specific innovations. The practical value of the work lies in the rationale of guidelines to improve the quality of forming innovative products of commercial banks and to ensure economic efficiency. Addressing innovation development can significantly help to overcome the negative effects of the transition period.

Testing work. Theme of master's work is considered in my paper:

  1. The problems of the innovation process;
  2. The strategy of using innovative products in the bank;
  3. Innovative strategies for working with the psychological attitudes of clients of commercial banks.

The main content of the master's work

In the introduction the urgency of research topics defined purpose, subject and object of study, formed the main objectives of the study are presented scientific novelty and practical significance of the results.

In the first section, "Theoretical foundations for construction strategy for the use of innovative banking products," discusses the theoretical basis of strategies for innovative products of the bank. Disclosed the purpose of strategic management and planning. The types of innovation strategies, disclosed the concept of innovative products. Analysis of the scientific literature reveals that a number of scientists adheres product innovation, process innovation, and innovation. As an indication of the classification used in this approach to change: a fundamentally new product or improved method of production used reclaimed products.

For the banking sector, this means the creation of a bank product that has more attractive consumer properties as compared to the previously proposed, or a brand new product that can satisfy the previously unmet needs of its potential buyer, or the use of more advanced technology of the same bank product. Also disclosed is the essence of the use of innovative products in a commercial bank. Banks, focusing on new product development, vocation, along with their interests taken into account in full and the impact of the external environment. For the Ukrainian commercial banks characteristic of our time is the diversification of activities. Given the instability of the economy, economic policy is very dangerous to focus on a narrow range of services.

Product policy of commercial bank - a set of methods and tools for the implementation of innovative changes in the existing product range of bank in order to maximize bank profits.

In the second section, "The methods of management of innovative products in the bank" studied acting techniques of innovative products. Revealed that the Ukrainian market, there are already a number of innovative banking products, as on the one hand, Ukraine is among the top 10 countries by number of users, and the other - due to the low penetration in the region is also a high potential of the Internet - the audience in the future. For banks, this is a great opportunity, and the experts do the basic rate is for the development of remote banking. The functional role of banks in the areas of production and circulation is manifested in a complex of various services provided by them. Under the constant influence of the governing bodies of banking supervision at the same time and under pressure from the market of many competitors, each bank has to seek and develop new types of services that are used to supply its customers and at the same time is not contrary to the public interest. In the modern welfare state banking services increasingly becoming socially oriented nature. The present level of development of productive forces calls from the banking sector to provide a wide range of services to customers - industrial, commercial and other businesses and organizations, as well as the public.

Identified that the market for banking products and services in Ukraine is a complex system of demand and supply in the banking derivatives relating to a commodity type of monetary and financial relations. Also, the development of the relationship increases the supply and demand for bank services, as well as stimulating the operation to expand the structural elements of the range and quality of services. Of particular importance to customer satisfaction, requires the study of the constituent elements of banking products and services. We consider that the activity of any bank in contact with competitors, customers, government and interact with them in order to optimize profits and also seeks to ensure the optimal combination of liquidity and profitability of the financial resources, building and maintaining its reputation.

In the third section, "Proposals for the use of innovative product strategies banking structure" revealed that on the basis of existing banking products, we can conclude that not all utility customers, so some of it would be more appropriate to refuse, and instead introduce a new, more profitable and customer-friendly. After several years of decline, the cost of technology development of the bank offices, such investments again become a trend. Analysts predict that banks around the world will spend $ 130 billion by 2015 to modernize the technology of the offices. This is understandable, because today 80% of the business still accounts for the sales channel through the offices. Banks tightly control every dollar spent, and they are willing to do it for the development of technology, but must be sure to return on investment and improve the quality of customer service.

One example - the use of RFID technology in the personal customer card or other devices. This technology allows us to personalize the service: Customer gets all the information about the customer at the time of his visit to the office of the bank, which reduces maintenance time and makes communication more confidence. I have found that as long as banks do not have time to fully assess the impact of social networks. But it is quite possible that in the near future, banks will start to actively use them as a sales channel. For financial institutions, came hard times, when on the one hand banks tightened the rules of regulators, highly competitive, and the other - the expectations of customers who are ready to switch to a competitor if they do not provide the required level of service. And today, just innovative technology sales channels, not the value of the services and products distinguishes banks from each other. In other words, the development of innovative channels to shape the future of retail banking.