Formation and Functioning of Financial Innovation Management System

The article examines the essence of the definition of «financial innovation» and defines its role as a catalyst for innovative business renewal, a key tool for economic development, competitiveness, sustainable growth, and ensuring the stability and efficiency of financial markets and financial institutions.The rapid pace of technological changes, the speed of the appearance of new financial products and services require enterprises and financial institutions to have an effective financial innovation management system.It is emphasized that the development and implementation of an effective financial innovation management system becomes an important prerequisite for the successful functioning of enterprises, organizations, and institutions in the conditions of constant