Impact of FinTech on the Traditional Banking System

Abstract: The financial sector has witnessed transformative changes over the past decade due to the emergence of Financial Technology (FinTech). This research paper explores the impact of FinTech on the traditional banking system, focusing on consumer behaviour, service preferences, technological integration, and future banking models. Through primary data collected from a structured survey and secondary data from credible sources, this study highlights the rapid shift in customer preference toward digital platforms, the strengths and limitations of both FinTech and traditional banks. It offers recommendations for a collaborative and sustainable banking ecosystem. Keywords: FinTech, traditional banking, digital transformation, consumer behaviour, financial services, hybrid banking model