Page 46 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.76, # 1, 2019, pp. 34-47

Diagnostics of modern trends of innovative banking business in conjunction with
existing developments regarding the typology of innovative financial technologies of
banks allowed to develop an author's classification which would serve as the
theoretical platform for organizing strategic adjustments to the innovations in the
bank outlining the content and nature of the bank's strategic prospects. It makes it
possible to identify the patterns and disadvantages of mastering innovations in the
bank (since the dominance of some kind of innovative financial technologies
determines the type and orientation of the bank's innovation strategy) and to design
the necessary economic and managerial models and innovation chains (as they are
defined precisely by the type of technologies being implemented and the developed
by an innovative perspective).

The mechanism of management of the introduction of innovative financial
technologies which has a cyclical and probabilistic character is usually outlined: the
number and uncertainty of the directions of achievement of tasks and high risk;
asymmetry and lack of information for the adoption of harmonious measures;
impossibility of detailed forecasting and orientation to predictive indicators; the
expediency of eliminating resistance and resolving conflicts that arise in the process
of introducing innovative financial technologies.

REFERENCES
Aleskerova, Ju. V. (2016). Derzhavne reguljuvannja finansovyh procesiv v
agropromyslovomu kompleksi [State regulation of financial processes in the agro-
industrial complex]. Prychornomors'ki ekonomichni studii' [Black Sea Economic
Studies], 11, 209-214[in Ukrainian].

Gudz O.Ye. (2005). Problemi udoskonalennya derzhavnoyi finansovoyi pidtrimki
pidpriyemstv agropromislovogo kompleksu cherez mehanizm zdeshevlennya
kreditiv [Problems of improvement of state financial support of enterprises of agro-
industrial complex through the mechanism of cheapening of loans] Oblik i finansi
APK. [Accounting and finance of agroindustrial complex], 6, 18-22 [in Ukrainian].

Jansson, K. H., Huisman, C. J, Lagerkvist, C. J. & Rabinowicz, E. (2013).
Agricultural Credit Market Institutions a Comparison of Selected European
Countries. Factor Markets Working Paper, 33, 30. Retrieved from:
http://ageconsearch.umn.edu/bitstream/144003/2/WP33%Agricultural%20Credit%2
0Market%20Institutions (date of access: 01.03.2019).

Kaletnik, H.M. & Tsikhanovska, V. M. (2010). Finansovyi menedzhment: navch.
posib. dlia stud. VNZ [Financial management] Kyiv: Khai-Tek Press [in Ukrainian].

46