The financial services industry (FSI) is an area where innovation happens frequently and fast. Despite the fact that sub-industries are heavily regulated, the dynamic nature of the organizations in these industries and the blurring of industry boundaries due to digitalization contribute to the fast-changing nature of FSI. Innovation in these industries comes in many different forms, including but not limited to internal capability development, acquisitions, collaborations, startups, and big-tech forays into the industry.
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