Disruptive Innovations in FinTech: A Case Study Approach to the Transformation of Traditional Banking in India
Published: 2025
Author(s) Name: Nagesh Shet, Suvarna Nimbagal, Swati, Jyothi Nesargi |
Author(s) Affiliation: School of Management Studies and Research, KLE Technological University, Hubli, Karnataka, India.
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Abstract
The banking and Financial Technology (FinTech) industry has emerged as a disruptive force, transforming the global financial ecosystem by providing innovative, efficient, and easily accessible financial services. FinTech technologies in India have impacted the traditional banking sector, including blockchain, mobile payment systems, and AI-powered financial solutions. This research investigates FinTech’s transformational impact on traditional banking models, with an emphasis on the Indian market. The chapter examines how significant FinTech businesses such as Paytm, PhonePe, and Freecharge have changed financial service delivery, creating challenges for traditional banking institutions. It dives into the technological improvements and market strategies that have enabled these FinTech companies to attract a large user base by offering services that are faster, more convenient, and frequently more inclusive than traditional banks. This research study examines traditional banks’ strategic actions, including digital transformation efforts and collaboration with FinTech start-ups. The report offers concrete insights into how traditional banks can adapt to the fast-changing financial world, highlighting the importance of innovation, teamwork, and a customer-centric strategy.
Keywords: FinTech, Disruption, Traditional Banking, India, Mobile Payments
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