An Empirical Study on The Adoption of Fintech Services by Bank Customers In India

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Alluri Greeshmitha, Nama Krishna Gayathri, Pinnamaraju Pavan Varma


There has been a great scope for the finance and banking sector thanks to the advancement of technology. India has around 87% of adoption of Fintech services, while it is 64% across the world, especially because of the arrival of Fintech startups providing financial services not only in major cities but also in the remotest areas. The government of India has taken various major steps for promoting Fintech services and digital transformation, considering its potential to play a vital role in financial stability. Collaborative moves have been made by financial bodies to meet the diverse needs of customers. This study is aimed to determine the adoption of fintech services by bank customers across India, along with their perception and constraints towards Fintech services. Total of 213 responses have been collected through an online survey. A self-structured questionnaire was distributed to determine the adoption of Fintech services in India. This study is empirical in nature and is based on primary data. It is observed that, despite growing awareness of Fintech services in India, certain measures are needed from both companies and government bodies to reduce the constraints related to those services that are faced by customers in India.


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