Innovation in Financial Services – A Theoretical Approach to Sustainable Structural Change

The present paper presents a theoretical analysis of the approaches on innovation as a determinant of organizational change. A relevant area where technology has produced many effects, bringing the need for innovation in services offered is the financial sector. Following a review of theories on innovation and its propagation, the paper presents the impact on payment systems, highly affected by innovation especially in recent decades and the impact on banks, which occurs much more specifically in the form of structural alteration.