The Role of Innovation in Developing a Leadership Strategy in the Banking Sector

Abstract

The article discusses the concept and features of innovations, and analyzes their impact on the development and competitiveness of companies, especially in the banking sector. Particular attention is paid to key areas of implementation of innovative technologies, their impact on the efficiency of business processes, cost reduction and improvement of the quality of services provided. The article also presents factors contributing to the successful implementation of innovations, modern trends and the role of digital transformation in the banking sector of the economy. Research on the topic of innovations remains relevant, since the rapid development of technologies and changes in the business environment require companies to constantly implement new solutions to adapt to market conditions, improve efficiency and maintain competitive advantages. CZU: 336.71:001.895; JEL: M19, O32