Paper Key : IRJ************195
Author: Ajay Soni,Isha Vyas
Date Published: 04 Apr 2025
Abstract
The financial industry has undergone significant transformation with the rise of financial technology (FinTech). This study examines how FinTech has impacted traditional banking through a comparative analysis. The research explores the major disruptions in banking operations, customer experience, lending, and regulatory frameworks. The study employs a qualitative approach by reviewing existing literature and analyzing case studies to determine the implications of FinTech on traditional banks. Key findings suggest that banks partnering with FinTech firms improve profitability and customer engagement, while standalone traditional banks face challenges in digital adaptation. The study highlights the necessity for traditional banks to integrate digital innovations to remain competitive. Future research should explore regulatory adjustments and customer perception shifts in the evolving banking landscape.