ABSTRACT
The disruptive forces of FinTech organisations and challenger banks are causing seismic
shifts in the financial services industry. This paper investigates the multi-dimensional
implications of FinTech on technological advancement, changing consumer behaviour,
regulatory dynamics, and investment. It evaluates the financial efficiency of the FinTech
companies and their traditional banking counterparts based on profitability, operating
efficiency, and innovation prowess. The research also considers the impact of FinTech
disruption on traditional business models and revenue systems. It illustrates challenges, such
as digital transformation, FinTech partnerships, and customer-centric drivers, and also
competitive strategies pursued by traditional banks to survive and thrive in a FinTech
dominated environment. The paper ends by reflecting on what this means for all of the actors
in these dramatic changes, and speculates that the future may be a hybrid model industry, one
of the marriage between the old resources of stability and tradition in the established
institutions with the new agility and innovation from the emergent players in the industry,
bubbled by a combination of collaboration, regulation and constant innovation.
Keywords: FinTech, Traditional Banking, Digital Transformation, Financial Disruption,
Consumer Behavior