Impact of Fin-Tech on The Banking Industry – A Study of Indian Millenials

Abstract

The banking industry has majorly evolved in the past ten years. The rise of fin-tech services has brought about significant number of changes in the daily banking scenario. The introduction of digital banking has disrupted the traditional banking landscape in the country by posing threats to established banks for adapting the changes. This global evolution had the maximum impact on Indianmillennials (born between 1980 and 1995) since that part of the population had largely experienced traditional banking. This paper aims to examine the impact of the changing financial technologies in the banking industry pertaining to Indianmillennials. A sample size of approximately 120 people was taken via Google form to conduct this study.