A Study on Role of Financial Technology in Personal Finance Management at ICICI Bank

Aerra Niharika¹, Nerella Akanksha², B Krishna³, Godishala Prince⁴, Ms. R. Swapna⁵

doi:10.64751/1km7r896

Authors

Aerra Niharika¹, Nerella Akanksha², B Krishna³, Godishala Prince⁴, Ms. R. Swapna⁵ Author

DOI:

https://doi.org/10.64751/1km7r896

Keywords:

Financial technology, FinTech, personal finance, ICICI Bank, digital banking, iMobile Pay, robo-advisory, financial inclusion, UPI, behavioural finance.

Abstract

Financial technology (FinTech) has fundamentally reshaped personal finance management by enabling instant payments, automated savings, robo-advisory investment guidance, and real-time credit access through digital platforms. ICICI Bank, India’s second-largest private sector bank, has emerged as a FinTech-first institution through its iMobile Pay, InstaBIZ, and AI-driven advisory ecosystem. This paper examines the role of FinTech tools in transforming personal finance management practices among ICICI Bank customers in Hyderabad. Primary data from 100 respondents (aged 18–45) was analysed alongside ICICI Bank’s published digital banking metrics to assess adoption patterns, user satisfaction, and financial outcomes.Findings reveal that FinTech adoption significantly improves budgeting discipline, savings regularity, and investment participation. Key barriers include digital literacy gaps, cybersecurity concerns, and trust deficits among first-time users. Recommendations include gamified financial wellness programmes, enhanced in-app financial literacy modules, and AIpersonalised goal-based savings nudges to deepen FinTech’s positive impact on personal financial health.