FinTech Revolution in India: Redefining Banking Operations and Customer Experience

Suyog A. Amrutrao

doi:10.55524/ijirem.2025.12.6.3

Abstract

The FinTech revolution in India, with the strategic use of state-backed Digital Public Infrastructure has completely changed the face of financial services in the country. This transformation, starting with the basic activity of banking computerization during the late 1980s, had a quantum leap with the introduction of UPI in 2016 and put India on a world leadership role as regards digital financial services [1][9]. The dual impact of this ecosystem on the financial sector is analyzed in this study. The adoption of FinTech solutions has demonstrably enhanced banking stability, mainly through better credit risk management and resulting in a consequent reduction in NPLs [3]. Externally, the architecture of DPI, particularly the interoperable, virtually zero-cost UPI, has created a frictionless, high-convenience customer experience which successfully accelerated financial inclusion by extending the services to millions of previously unbanked citizens [1][6]. Future growth depends on strengthening cyber security protocols and leveraging the Account Aggregator framework. Open Network for Digital Commerce to monetize the data layer and integrate finance deeper into commerce. The report undertakes a comprehensive review of the historical start, operational impact, and future of the Indian FinTech ecosystem.

Keywords

FinTech, Digital Commerce, financial services & Digital Public Infrastructure

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Cites this article as

S. A. Amrutrao "FinTech Revolution in India: Redefining Banking Operations and Customer Experience", International Journal of Innovative Research in Engineering and Management (IJIREM), Vol-12, Issue-6, Page No-14-17, 2025. Available from: https://doi.org/10.55524/ijirem.2025.12.6.3