Directions for the Development of the Innovation Process on the Market of Banking Products and Services

The innovation process is multidimensional, its development directions being established according to the possibilities of valorizing those innovation opportunities that increase the ability to have a higher banking performance. In the conditions of growing competition, characteristic of the market of banking products, an off ensive innovation strategy for the innovative process is required. The concretization of the strategic directions of off ensive development of the innovative banking process in the Republic of Moldova by types of innovations is the subject of research in this article. The research methods used were observation and survey among banking professionals. The paper analyzes the degree of implementation in banks of innovations: product, process, organizational and marketing, which have been identifi ed in international banking practice in recent years. The results obtained from the research allowed establishing the development directions of the innovative banking process in the future period: the development of new lending products for small and medium-sized enterprises (SMEs); diversifi cation of deposit products; the expansion and more intensive development of digital payments for broad-based public products and services – transport; medicine; implementation of blockchain, cloud-technologies, smart-contacts; robotization etc.