An Empirical Study of Customer Perspectives on the Impact of Financial Technology on the Banking Sector in Chennai

Abstract

The traditional banking environment has gone through a significant transformation due to the rapid growth of Financial Technology (FinTech), which has impacted how financial services are provided and received by customers. The purpose of this study is to empirically investigate consumer perceptions of the impact of FinTech in the banking sector in Chennai. It examines key topics, including customer satisfaction, perceived security, ease of use, trust in FinTech-enabled platforms, and the adoption of digital banking services. A structured questionnaire was administered to a diverse group of banking customers across Chennai to collect primary data. The study emphasizes that banks must continuously upgrade their technology, maintain quality customer service, and protect customer data to build trust in banking–based FinTech services.