FINANCIAL INNOVATION AND ITS IMPACT ON TRADITIONAL BANKING (KEY IJP************980)

• Anshika Ojha

Abstract

Financial innovation has transformed the landscape of traditional banking significantly over the past few decades. This research paper explores the various forms of financial innovation and their profound impact on traditional banking institutions. By examining the emergence of fintech, blockchain technology, digital currencies, and alternative lending platforms, this paper provides insights into the opportunities and challenges faced by traditional banks in adapting to the changing financial ecosystem. Additionally, it analyzes the regulatory frameworks governing financial innovation and the strategies adopted by banks to remain competitive in this evolving landscape. Through a comprehensive review of academic literature, industry reports, and case studies, this paper aims to provide a holistic understanding of the dynamic relationship between financial innovation and traditional banking.