Impact of Fintech on Traditional Banking Services in Abuja

The rapid diffusion of financial technology firms offering digital payments, lending, savings, and wealth management services has created a complex competitive and collaborative dynamic with established commercial banks in Nigeria. This study examines the impact of fintech innovation on the utilisation and quality of traditional banking services in Abuja, the Federal Capital Territory, situated in Nigeria's North Central zone. A descriptive survey design is employed, with data collected from 300 bank customers and 50 bank branch staff members using structured questionnaires and semi-structured interviews. The study measures changes in branch visit frequency, digital transaction volumes, customer service satisfaction ratings, and product adoption patterns before and after the widespread adoption of fintech applications. Data are analysed using descriptive statistics, paired t-tests, and regression analysis. The research is framed within the disruptive innovation theory and the technology acceptance model, providing theoretical lenses through which the competitive dynamics of the fintech-banking relationship can be interpreted. The study also evaluates whether banks in Abuja are adopting collaborative fintech models, including open banking and banking-as-a-service approaches, to preserve market share. Existing literature from comparable emerging markets identifies complementarity and substitution as coexisting dynamics in the fintech-banking relationship, and this study tests whether both effects are observable in the Abuja context. Findings are expected to be useful for the Central Bank of Nigeria's fintech roadmap, commercial bank strategy departments, and consumer protection research. Keywords: fintech, traditional banking, digital payments, Abuja, financial innovation