• Saksham Karape
• H. R. Kulkarni
• Rahul Shinde

Financial technology (FinTech) is fundamentally reshaping the financial ecosystem by merging cutting-edge technology with conventional financial services. This paper provides an analytical report on the impact of FinTech innovations such as mobile payments, AI, blockchain, and peer-to-peer lending on traditional banking models. The primary goal is to explore how these innovations are redefining customer experiences, operational efficiency, and the competitive landscape for traditional banks. Utilizing a descriptive and analytical methodology based exclusively on secondary research , the study examines key drivers of this shift, including changing consumer behavior, regulatory reforms like open banking, and the pursuit of cost efficiency through automation. Key findings confirm that FinTech significantly enhances operational efficiency, drives substantial financial inclusion by reaching underserved populations, and presents both severe competition and unique opportunities for collaboration with established banks. The conclusion is that FinTech is not merely a threat but a catalyst, forcing traditional banks to evolve toward a more agile, customer-centric, and collaborative digital future.

Impact of FinTech on Traditional Banking

"Impact of FinTech on Traditional Banking", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.13, Issue 1, page no.522-525, January-2026, Available :http://www.jetir.org/papers/JETIRHG06063.pdf

"Impact of FinTech on Traditional Banking", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.13, Issue 1, page no. pp522-525, January-2026, Available at : http://www.jetir.org/papers/JETIRHG06063.pdf