• Zubair Iqbal

This empirical secondary-research study examines the emergence and strategic positioning of Financial Technology (FinTech) firms and the resulting disruption and collaboration dynamics within the Indian banking ecosystem. Drawing on authoritative data from the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), PwC, McKinsey, and case-based analysis, the study explores how innovations in digital payments, embedded finance, artificial intelligence (AI)-driven lending, and Banking-as-a-Service (BaaS) models are dismantling the legacy advantages of traditional banks. It investigates not only how FinTechs are disrupting—but also how leading Indian banks such as SBI, ICICI, and HDFC are strategically adapting via ecosystem integration, API monetization, and credit-on-UPI innovation. The findings indicate that FinTech is not replacing traditional banking, but redefining it into an infrastructure-plus-partnership-led model. The paper concludes with strategic recommendations for Indian banks to transition from product sellers to platform enablers while safeguarding trust, compliance, and financial stability. Keywords: FinTech disruption, Digital banking strategy, UPI, Embedded finance, Banking-as-a-Service (BaaS), API monetization, SBI YONO, India financial ecosyste

FinTech disruption, Digital banking strategy, UPI, Embedded finance, Banking-as-a-Service (BaaS), API monetization, SBI YONO, India financial ecosyste

"Impact of FinTech on the Banking Industry: Opportunities and Strategic Challenges in the Indian Context", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 11, page no.b1-b10, November-2025, Available :http://www.jetir.org/papers/JETIR2511101.pdf

"Impact of FinTech on the Banking Industry: Opportunities and Strategic Challenges in the Indian Context", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 11, page no. ppb1-b10, November-2025, Available at : http://www.jetir.org/papers/JETIR2511101.pdf