Responsible financial innovation in banks : committees of new products

Abstract

Organizations adapt to the environment using new management tools as part of the evolution process. Additionally, if complexity is incorporated, the theory help to understand behaviour of agents within an organization. This paper analyses the notions of governance and corporate social responsibility, which are articulated in the new European concept of responsable innovation. Particularly, this work is interested in studying this problem in the banking sector, raising the notion of responsible financial innovation. One of the proposals in this new framework is called New Products Committee. This structure ensure that the innovative processes in the bank is responsible and are developed for and with society.