The effect of financial technology (Fin-tech) on the conventional banking industry in India

Vineet Chouhan (), Sajid Ali (), Raj Bahadur Sharma () and Anjali Sharma ()

International Journal of Innovative Research and Scientific Studies, 2023, vol. 6, issue 3, 538-544

Abstract: The purpose of the study is to measure the impact of financial technology on the banking industry. Digital disruption has an impact on bank business models as well as conventional businesses as a result of changed customer behavior. This paper examines the impact of financial technology on the Indian conventional banking industry using a structured questionnaire filled out by 300 customers’ of a bank selected using simple random sampling. For hypothesis testing, the statistical technique of regression analysis is used.In order to identify the impact of financial technology on the banking industry, the value propositions that influence the adoption of financial technology or banking products are analysed using importance and usefulness criteria such as customer satisfaction, net promotion score, promotion, ease of use, etc. The results show that banks have been positively impacted by the use of financial technology as it can now enhance their value proposition which includes improved service quality, marketing and a wide range of merchants. The research has implications for the banking industry that can make the services easily accessible for customers and improve their value proposition. Furthermore, customers are aware that the banking industry uses financial technology which can make their work easier too. The literature in the field of financial technology is limited in terms of theory and the practical issues are being improved with easy adoption and proper marketing needs in the research. This will improve and guide future research in the same area.

Keywords: Banks; Consumer behavior; Digital disruption; Financial technology; Net promoter score; Payment gateway. (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ijirss.com/index.php/ijirss/article/view/1578/362 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aac:ijirss:v:6:y:2023:i:3:p:538-544:id:1578

Access Statistics for this article

International Journal of Innovative Research and Scientific Studies is currently edited by Natalie Jean

More articles in International Journal of Innovative Research and Scientific Studies from Innovative Research Publishing
Bibliographic data for series maintained by Natalie Jean ().