A Study of the Influence of Fintech on Financial Efficiency and Customer Satisfaction in the Banking Sector in Amravati City
Author 1: Pushkar Prashantrao Kalbande
MBA Student, Finance
Department of M.B.A
P. R. Pote Patil college of Engineering and Management, Amravati
pushkarkalbande@gmail.com
Author 2: Dr. P. B. Udasi
Assistant Professor
Department of M.B.A
P. R. Pote Patil college of Engineering and Management, Amravati
Abstract
The Financial Technology or FinTech for short is changing the banking sector fast. This is making banks work better and making customers happier. I want to see how FinTech is affecting the banks, in Amravati City. My main goal is to figure out how using FinTech like banking, mobile banking, online payments and automated services is changing the financial performance of banks and what customers think of them. FinTech is really important here so I will look at how it's changing the way banks work and how customers feel about it. The study looks at how FinTech's used in banks. It uses information from bank customers in Amravati City who filled out questionnaires. It also uses information from journals and banking reports. The study uses math to understand the information. It looks at things like percentages and average scores. It also sees how things are related to each other. The study finds that FinTech is very important for banks. FinTech helps banks reduce costs and make transactions faster. FinTech also helps banks make mistakes and be more efficient with money. FinTech plays a role in making banks better. The study shows that FinTech is good, for banks because it helps with costs and transaction speed and service accuracy and overall financial efficiency of banks. Moreover, the study indicates a positive relationship between FinTech services and customer satisfaction, particularly in terms of convenience, accessibility, security, and service quality. However, challenges such as lack of digital literacy and cybersecurity concerns remain barriers to full adoption. The study concludes that effective implementation of FinTech solutions can provide banks with a competitive advantage while fostering higher customer satisfaction. The research offers valuable insights for banking institutions, policymakers, and researchers to strengthen digital banking strategies in semi-urban regions like Amravati City.
Keywords: FinTech, Financial Efficiency, Customer Satisfaction, Digital Banking, Banking Sector, Amravati City
