Is Banking the Next Blockbuster?An Empirical Study of the Impact of Disruptive Technology in Banking

Why are there so many tech startups and mobile apps, as well as a wider profit gap between top-performing businesses and those struggling at the bottom? Disruptive technologies played a crucial role in accelerating digital trends and consumer shifts that existed before the pandemic (Bradley et al., 2020).Netflix's disruption of Blockbuster is used to show the documented empirical research on the theoretical definition and conceptual framework for disruptive technologies. The incumbent “Blockbuster” never saw Netflix as a threat until the at-home-movie viewing market was disrupted. COVID-19 caused havoc affecting investments, businesses, and consumers for years to come. While digitalization moved faster, traditional systems are now being reconsidered to better meet growing social and environmental needs. (Assink, 2006; Manyika et al., 2013).As a result of the moderating effect of COVID-19 on consumers' perceived utility of technology, this article describes the relationships between disruptive technology, consumer adoption, and firm-level outcomes. This understanding may be limited to what makes consumers adopt disruptive technology in financial services; however, we will describe the theoretical framework that helps in the development of propositions to guide future research.