Issues of development and implementation of innovative banking products

Many banks are successfully working in the conditions of growing competition and declining profitability; they are looking for new options to increase the number of their customers, reduce operating costs and improve the efficiency of operations. Medium-sized and large banks, which, as a rule, have numerous and very costly structure, with great difficulty manage to fulfill these requirements. The solution of this problem is possible through the development and introduction of innovative banking products and the provision of modern banking services. Creation of innovative banking products and services –it is the transition from the focusing on the mandatory adherence to applicable regulations, centralized management and the priority of the executive to the orientation on a customer, decentralized management and technology deserted. Creation of innovative banking products and services - is the transition from the orientation to the mandatory adherence to applicable regulations, centralized management and the priority of an executive to orientation on the customer, decentralized management and untended technologies. The main prerequisites for the development of innovative banking products are: individual approach to customers, the development of information and communication technologies, and the active introduction of self-service. Innovative banking products are significantly less time-consuming for the use of bank employees' work, but functionally more flexible and profitable; the strategy of commercial banks is built based on them. Creation of innovative banking products and services - it is: 1) a definite step in the development of banking technologies, aimed at building a modern strategy of commercial banks; 2) a new organization of interaction with the client in the delivery of banking services. The concept of creation of innovative banking products and services include the following principles: implementation of responsibility decentralization to the level of additional office; development of intra-entrepreneurship; development of customer-oriented organizational structure; decentralization of work leading to the integration of strategic and operational liability; the introduction of material incentives for the individual activity results on a contract basis; development of self-service based on the complex of automated banking devices and information technologies. Implementation of these principles will lead to the direct process of introduction of innovative banking products and services, and focuses the bank employees on meeting customer needs.