Technologies for Digital Disruption in Banking
Navaneetha. K *
Department of Commerce and Management Studies, University of Calicut, India.
P. Mohan
Department of Commerce and Management Studies, University of Calicut, India.
*Author to whom correspondence should be addressed.
Abstract
The rapid evolution of financial technology (FinTech) has significantly disrupted the traditional banking sector, leading to a transformative shift in financial services. This study systematically reviews the role of key digital technologies—such as artificial intelligence (AI), blockchain, big data analytics, cloud computing, and Big Data and Analytics—in reshaping the Indian banking landscape. Using predetermined inclusion and exclusion criteria, pertinent research articles were found from highly ranked databases (such as Scopus, Web of Science, and IEEE Xplore) in accordance with the Systematic Literature Review (SLR) technique. The thematic synthesis analysis highlights how these innovations enhance operational efficiency, financial inclusion, cybersecurity, and customer experience while also posing regulatory and competitive challenges. The study further examines the implications of FinTech disruption in India’s banking sector, considering the regulatory framework and emerging trends. The findings suggest that while FinTech presents opportunities for financial democratization and improved service delivery, it also requires banks to adopt agile strategies to remain competitive. Future research should explore the long-term impact of FinTech disruption on banking stability and consumer trust.
Keywords: Fintech disruption, digital banking, blockchain, artificial intelligence, cybersecurity, big data analytics, cloud computing