Event Title

The Impact of Innovation on Kosovo Commercial Banks Performance

Session

Management, Business and Economics

Description

In the recent decade, the banks have seen a powerful transformation due to the financial environment changes. The international banking sector is becoming more competitive, and with consumer behavior changing quickly, banks need to stay up-to-date with customer expectations while trying to defend market share. The significance of innovation and developing new solutions that take advantage of digital technologies, innovative analytics, and new distribution platforms have become very important as never before. We see innovation in targeting, expanding services, applying blockchain technology, delivering practical advice, and integrating payments. These kinds of efforts in the future will only continue to grow, as global banks will advance to transform the financial services industry. As part of these important trends, banks will continue testing new technologies to enhance their services and set the customer at the epicenter. As technologies continue to advance, the banks will continue to increase their investments in digital innovation and improvements. Generally, the banks have been modifying and revising their organizational structure and their business strategies. Adjustments have also impacted less noticeable features of their business, risk management practices, and governance. Given the significant changes in the finance sector over the past decade, this study will attempt to examine Kosovo trends in banking business models, performance, and market structure and assess their implications for the Banking and Financial Stability.

Keywords:

JEL Classification: G21, O14, G32

Session Chair

Naim Preniqi

Session Co-Chair

Muhamet Gërvalla

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-96-7

Location

Lipjan, Kosovo

Start Date

31-10-2020 10:45 AM

End Date

31-10-2020 12:15 PM

DOI

10.33107/ubt-ic.2020.287

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Oct 31st, 10:45 AM Oct 31st, 12:15 PM

The Impact of Innovation on Kosovo Commercial Banks Performance

Lipjan, Kosovo

In the recent decade, the banks have seen a powerful transformation due to the financial environment changes. The international banking sector is becoming more competitive, and with consumer behavior changing quickly, banks need to stay up-to-date with customer expectations while trying to defend market share. The significance of innovation and developing new solutions that take advantage of digital technologies, innovative analytics, and new distribution platforms have become very important as never before. We see innovation in targeting, expanding services, applying blockchain technology, delivering practical advice, and integrating payments. These kinds of efforts in the future will only continue to grow, as global banks will advance to transform the financial services industry. As part of these important trends, banks will continue testing new technologies to enhance their services and set the customer at the epicenter. As technologies continue to advance, the banks will continue to increase their investments in digital innovation and improvements. Generally, the banks have been modifying and revising their organizational structure and their business strategies. Adjustments have also impacted less noticeable features of their business, risk management practices, and governance. Given the significant changes in the finance sector over the past decade, this study will attempt to examine Kosovo trends in banking business models, performance, and market structure and assess their implications for the Banking and Financial Stability.