Register now or log in to join your professional community.
Thanks for invitation,
As a matter of fact, most of textbooks are define "financial Innovations" as:
The innovation in financial sectors which has come through advances over time in financial instruments and payment systems used in the lending and borrowing of funds.
These changes – which include updates in technology, risk transfer, and credit and equity generation – have increased available credit for borrowers and given banks new and less costly ways to raise equity capital.