Fintech Startups And Sustainable Banking: A Comparative Study Of Traditional And Neo-Banking Preferences In India’s It Sector
DOI:
https://doi.org/10.66635/mascq146Keywords:
FinTech Startups, Sustainable Banking, Financial Inclusion, Neo-Banking, Traditional Banking, Digital Economy, Emerging EconomiesAbstract
The Indian banking sector is undergoing rapid transformation driven by financial technology (FinTech), digitalization, and changing consumer expectations. Neo-banks, as digital-only platforms, have emerged as innovation-driven FinTech startups that challenge traditional banking models through technology-enabled, customer-centric, and cost-efficient services. In emerging economies such as India, these developments are contributing to financial inclusion, accessibility, and digital economic growth. This study presents a comparative analysis of traditional banking and neo-banking preferences among IT sector employees in Pune, a major technology hub with a digitally literate workforce. A descriptive and analytical research design was adopted using primary data collected through structured questionnaires. Key parameters such as convenience, cost efficiency, trust and security, technological innovation, and customer experience were analyzed. The findings reveal that neo-banks are preferred for routine transactions and digital payments due to convenience and lower costs, whereas traditional banks remain dominant in credit services, long-term savings, and regulatory trust. The study highlights the emergence of a hybrid banking model combining digital innovation with institutional reliability. It also emphasizes the role of neo-banks in enhancing accessibility and supporting inclusive financial systems in emerging economies.
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