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What is the impact of digital innovation on banking and finance? 


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Digital innovation has a significant impact on banking and finance. It has the potential to reshape the future of the financial sector, both in terms of public and private digital currencies . The development of new financial services and products, such as e-banking services, has been shown to positively affect bank performance . The digitalization of the financial system has led to ecosystem-wide competition in the banking industry, necessitating the need for a comprehensive framework to guide strategic decisions and organizational structures . Banks are adapting to the digitalized world by using innovative technology and collaborating with FinTech companies to enhance customer experience and increase client satisfaction . Overall, digital innovation is transforming the banking and finance sector, influencing the operations of financial institutions and the way customers interact with financial products and services.

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Open accessJournal ArticleDOI
02 Dec 2022-Competitio
The paper discusses the impact of digitalization on the financial sector, including the use of innovative technology, cooperation with FinTech companies, and internal digital transformation of banks.
The provided paper discusses the impact of open banking strategy and fintech on digital transformation in the banking industry. It does not specifically mention the impact of digital innovation on banking and finance.
The provided paper discusses the impact of open banking strategy and fintech on digital transformation in the banking industry. It does not specifically mention the impact of digital innovation on banking and finance.
The paper discusses how digital currencies can significantly reshape the future of banking and financial intermediaries, highlighting both the benefits and risks associated with their use in the banking sector.

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