PAPER ID:IJIM/Vol. 10 (VII)November/47-52/7

AUTHOR: Mrs. Gurvinder

TITLE: IMPACT OF FIN-TECH GROWTH ON TRADITIONAL BANKING SERVICES IN INDIA

ABSTRACT:In India, the rapid rise of financial technology (Fin-Tech) has transformed the operational and competitive landscape of traditional banking. Over the past decade, innovations such as digital wallets, UPI-based real-time payments, alternative credit assessment tools, and app-driven financial services have reshaped consumer expectations and service delivery. Using secondary data from the RBI, NPCI, NASSCOM, and PwC India, the study examines how Fin-Tech growth has influenced the structure, performance, and strategic direction of Indian banks. Findings show that Fin-Tech firms have disrupted conventional banking by offering faster, low-cost, and user-centric solutions, leading to a steady decline in cash transactions and the expansion of digital financial ecosystems. At the same time, Fin-Tech has compelled banks to modernise legacy systems, adopt data-driven decision models, strengthen digital channels, and broaden financial inclusion. Rather than fostering zero-sum competition, the sector is moving toward a collaborative model where banks and Fin-Tech companies partner through co-lending, shared platforms, and integrated digital infrastructure.

KEYWORDS : : Fin-Tech, Traditional Banking, Digital Payments, Financial Innovation, India’s Banking Sector, Digital Transformation

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