Affiliation:
1. Department of Management, Central University of Tamil Nadu, India
Abstract
A significant transformation has occurred in the banking sector in recent years due to the emergence of new Fintech businesses that are providing cutting edge services and technologies that are altering the way banks conduct business. Innovative services like online payments, data analytics, wealth management, and investment banking are provided by Fintech solutions, which elevate the banking process to a new level and maximize the Fintech's influence on the banking sector. This chapter aims to comprehensively examine the disruptive nature of Fintech innovations and their impact in the banking industry. It highlights how FinTech companies affect the financial stability of banks, how Fintech has has enhanced customer experience through mobile banking apps, online transactions and personalized services. It also emphasizes how the Fintech solutions have improved operational efficiency and reduced cost for Banks. The findings of this study will offer actionable insights to stakeholders for embracing innovation, addressing challenges, and navigating the evolving landscape of fintech-integrated banking.
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