Problems of Legal Provision of Innovative Banking

Abstract

The author analyzed the problem of legal provision of innovative banking. In modern conditions unconventional use of technologies in financial services sometimes absorb ways, system, methods of service delivery and some other objects of intellectual property. The author considered several problems in implementing financial innovations and questions on the coordination of technical solutions and the necessity of standardization and interoperability. Also the article investigated the aspect of regulating the use of financial innovation from the point of view of their accessibility for all participants in the financial markets. Finally, conclusions was done concerning innovating in banking. According to the author, the main problem is resolving legal issues regarding the relationship between the mechanisms of patent protection technologies and their mass application, resolving the conflict of public and private interests.