2024, Vol. 7, Issue 2

author(s)
Anitha V and Karthik S

abstract
With the development of financial technology, the Chinese government deregulated the banking industry. The impact on traditional banks has been questioned since the first bank to operate exclusively online was established in 2014. Before (2009-2014) and after (2015-2018) the advent of online-only banking, we looked at two different time periods. During these periods, we evaluated the efficiency and performance variations among 20 banks using regression and data envelopment analysis approaches. Fintech, which stands for financial technology, is the term used to describe the use of technological innovations for the financial services sector. Applications like as mobile payments, money transfers, loans, asset management, and fundraising are all included in this. Global investment in fintech has recently increased and is predicted to continue growing because it is applicable to financial services as well as any business that deals with the financial sector. Often creative, fintech firms have the potential to upend traditional finance and spur quick innovation. Traditional financial services can be improved by using technology to make them faster and easier to access. This is known as fintech. Startups typically create these solutions with the goal of enhancing corporate and retail banking, frequently working alongside or going up against more established financial institutions. The idea and significance of financial technology, as well as how banks and financial technology businesses profit from their current collaboration, are all covered in this article.