THE CONSTRAINING FACTORS OF THE INNOVATIVE DIRECTION IN THE BANKING SYSTEM

The new reality and proper functioning of banking institutions in order to fully satisfy the customers’ needs by using modern electronic banking technologies, and in some cases, revision of the monitoring procedures and control of hazards. Without the use of innovations in the banking system it is almost impossible to create high competitive products and services. Under these conditions, a significant competitive advantage will have the banks that will be able to develop and introduce new technologies, products and services, develop alternative customer service channels, and namely achieve the innovation process, innovation becoming finally an effective mean of competition.