Can you explain a bit on what innovation means in financial industry? This is not a sarcasm or a mockery, but a serious question. I have a friend in financial i

Can you explain a bit on what innovation means in financial industry? This is not a sarcasm or a mockery, but a serious question. I have a friend in financial industry who works for Barclays and she always complains that the regulations are getting tougher, and it's hard to innovate. With you saying that, it starts to make me wonder what kind of innovation one could possibly create in banking other than loaning out money in various forms, and insuring assets.