What is the embodiment of contemporary financial business innovation?

Contemporary financial business innovation is embodied in internal management innovation and financial institution innovation.

Financial business innovation refers to the innovation of financial institutions in the field of business management. It is an activity that financial institutions use new thinking, new organizational methods and new technologies to build a new financing model and obtain and realize their operating results by using various financial innovation tools.

Extended data:

With the wide application of new technology in the financial field, financial institutions have widely used computer operations in dealing with internal documents, materials, accounts and various financial retail businesses, and their technical level has been continuously improved. The emergence of new payment systems and information systems, such as SWIFT, CHIPS and FEDWIRE, has greatly improved the efficiency and security of fund settlement.

The emergence of bank telephone transfer, electronic banking, ATM, POS and other payment systems has greatly reduced the operating costs of banks and the circulation costs of society. At present, almost all banks have established multi-channel service systems such as physical outlets, telephone banking, online banking and ATM, which combine physical channels with electronic channels, breaking through the limitations of traditional business outlets and providing diversified services to customers better.

Baidu Encyclopedia-Financial Business Innovation