Innovation strategies and the problems of their implementation by the Ukrainian banks

Abstract

Innovation is one of the main engines of long-term economic growth and structural change and has always driven economic progress. In recent decades, the development of the banking sector, which was notable for certain conservatism and immutability until now, has assumed an innovative character. Under conditions of volatile external environment and escalating competition banks are increasingly turning to new, innovative sources of growth, but a large-scale positive impact can be expected only under a strategic approach to innovation process management.