THEORETICAL ASPECTS OF FINANCIAL INNOVATION: GENERAL AND SPECIAL
This article is aimed at analyzing existing domestic and foreign scientific works in the field of financial innovation research. To concretize the concept of «financial innovation», the review and systematization of theoretical approaches to the interpretation of this term in domestic and foreign economic literature was carried out. At the same time, various approaches to the classification of financial innovations were characterized. Then their distinctive features which are important when developing, managing and implementing innovative processes and strategies were highlighted. Based on them, the article reflected the dual purpose of financial innovations, manifested in opposing views regarding their impact on the development of the economy and society as a whole. The analysis allows us to make a conclusion that there are continuing discussions about clarifying the essential features of financial innovations, highlighting their unique features, and creating author's approaches to their classification. This situation is partly explained by the wide variety of new financial developments attracts the attention of researchers. As a result, most studies focus exclusively on specific innovations, and little attention is paid to the development of general theory. Conclusions and generalizations of the study can be applied in the organization of innovation management. The scientific significance lies in the theoretical generalization of approaches to the definition of financial innovations. The practical significance of the study is that it’s results can be used by specific organizations in their practical activities.