Impact of Fintech Application on Digital Banking Platforms Profitability of Selected Private Banks with reference to HDFC and ICICI

Abstract: The advent of Financial Technology (Fintech) has significantly transformed the landscape of the banking industry, particularly through the emergence of digital banking platforms. This study aims to assess the impact of Fintech applications on the profitability of selected private banks, focusing on two prominent players, HDFC Bank and ICICI Bank. The study places emphasis on various Fintech-driven factors, including but not limited to mobile banking, online transactions, artificial intelligence and data analytics. These elements are evaluated in the context of their influence on customer engagement, operational efficiency, and overall financial health of HDFC Bank and ICICI Bank. The study aims to explore the challenges and opportunities that arise from the integration of Fintech applications, considering regulatory frameworks, cyber security concerns, and customer adoption rates. Comparative analysis between the two selected banks offers insights into unique strategies and approaches they have adopted to leverage Fintech for enhancing profitability.

Keywords: Financial Technology, Digital Banking, Mobile Applications, Fintech Application and Financial Service

JEL Classification Number: G21, O33