FINTECHS AS A GAME CHANGER IN BANKS-LITERATURE REVIEW AND RESEARCH AGENDA

Purpose:As technology and innovation advance, the world economy is always changing. Due to the recent upheaval in the banking sector brought about by digital technology, banks are now refocusing their business strategies in favor of e-banking. Fintech is the application of technological advances to create novel business models built on a wide range of creative concepts. It has developed additional services to more effectively address client demands at the most affordable pricing.Initially displacing banks due to their reduced operating costs, fintech startups are now collaborating with them to grow their revenue and clientele. Methodology/Approach:The literature reviews objective is to analyze the concept of fintech and how it works in the sector of banking. Findings:Fintech startups are now seen by banks as enablers rather than competitors. By collaborating with fintech firms, banks may instantly increase the services they offer. Banks should adopt Fintechs more proactively to continuously boost their profitability. It is essential to examine the profitability of banks utilizingfintech as it enables financial institutions to make data-driven choices, improve operational efficiency, manage risks, and develop a more customer-centric approach. Originality/Value: In the continuously changing financial landscape of today, assessing how fintech affects bank financial performance cannot be overlooked and it is crucialas it continues to gain popularity. Paper Type:Conceptual Research.