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@article{178616,
        author = {Dr. Anisha Mahindrakar and Dr. Shailesh Rajhans},
        title = {BIG TECH IN FINANCIAL SERVICES: A DIGITAL TRANSFORMATION OR DISRUPTION FOR FINTECH},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {11},
        number = {12},
        pages = {4138-4145},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=178616},
        abstract = {The entry of Big Tech—Amazon, Google, Apple, Meta, and Alibaba—into financial services is reshaping the industry. These firms leverage vast user bases, advanced technologies, and data ecosystems to offer seamless financial products. From digital payments to credit, insurance, and wealth management, their reach is growing rapidly.
This development presents a dual narrative: transformation through innovation, and disruption via dominance. Big Tech enhances digital transformation by modernizing infrastructure and setting new user experience standards. Their platforms enable embedded finance, financial inclusion, and operational efficiency. With AI, cloud, and machine learning, they outpace traditional firms in product delivery and personalization. Yet, their scale and data control pose serious threats to FinTechs and even established banks. FinTech startups now face tough competition and must find niche areas to remain relevant. Some FinTechs partner with Big Tech for growth, while others risk being overshadowed or acquired. Big Tech’s ability to cross-subsidize and bundle services challenges existing business models. Their entry also disrupts funding flows and investor focus within the FinTech ecosystem. Regulators face new challenges around data privacy, market concentration, and systemic risk. Traditional frameworks often fall short in addressing Big Tech’s hybrid financial models. Concerns grow over shadow banking, surveillance capitalism, and regulatory arbitrage. Meanwhile, financial institutions are rethinking digital strategies and collaborative models. The net effect is both transformative and disruptive—stimulating innovation while threatening balance. Big Tech is not just a competitor but a catalyst, shaping the future of finance. A hybrid view is necessary to understand the opportunities and risks of their presence.
This paper critically examines this duality to offer insights for policymakers, FinTechs, and incumbents alike.},
        keywords = {Big Tech, Financial Services, FinTech, Digital Transformation, Disruption, Data Dominance, Embedded Finance, Financial Innovation, Regulatory Challenges, Platform Ecosystems, Artificial Intelligence, Cloud Computing, Systemic Risk, Surveillance Capitalism, Financial Inclusion, Strategic Competition, Regulatory Arbitrage, Financial Technology, Digital Payments, Ecosystem Power},
        month = {May},
        }