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Purpose

The purpose of this paper is to highlight the potentials offered by New Product Committees for the development of responsible innovation in the financial services industry; and to provide grounds for policy recommendations.

Design/methodology/approach

The paper takes the form of collective, interdisciplinary reflection and experience within the industry.

Findings

New Product Committees can serve a practical approach to responsible innovation in finance.

Originality/value

The paper fills a gap in the empirical consideration of New Product Committees in the financial services industry and proposes original directions for policy orientations within organizations and at a regulatory level.

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