The Digital Leap: FinTech Transformations in Eastern Indian Banking Sector

Abstract

This study evaluates the transformative impact of digital disruption in finance, with a particular focus on FinTech adoption in Eastern India’s banking sector. The aim is to explore how FinTech innovations reshape banking operations, customer experiences, and competitive strategies. Employing a comprehensive review methodology, the paper synthesizes existing literature on FinTech applications. The analysis highlights key drivers, challenges, and opportunities in FinTech adoption. Findings reveal that while FinTech accelerates digital transformation and financial inclusion, traditional banks face challenges in seamlessly integrating these technologies. The study emphasizes the strategic need for collaboration between FinTech firms and banks to foster innovation. Implications suggest policymakers and banking leaders prioritize adaptive strategies and digital literacy to sustain growth in a rapidly evolving financial ecosystem.