The advent of new digital solutions that improve accessibility, efficiency, and the customer experience has caused financial technology (FinTech) to become a revolutionary force that is changing the conventional banking scene. The effects of financial technology on conventional banking services, goods, and market competition are the focus of this research. Mobile banking, digital payments, blockchain, AI, and big data analytics are some of the technologies that are discussed. These have changed the way services are delivered, cut down on operating costs, and sped up transaction procedures. Cybersecurity threats, difficulties with regulatory compliance, the necessity to adapt technology, and rising competition from FinTech firms are just a few of the difficulties highlighted in the abstract as affecting traditional banks. Also covered are potential avenues for joint ventures, digital transformation projects, and strategic collaborations. Based on the study's findings, banks are being pushed to update their services and embrace customer-centric, tech-driven strategies in order to stay competitive in the ever-changing financial ecosystem, all because of FinTech.