The banking industry is poised for disruptions. Technology is changing banking like never before. The evolution of mobile payment systems, online purchasing, peer to peer lending platforms and several other Financial Tech start-ups are creating a revolution in the banking industry. The banks are under immense pressure from technology companies, global financial crisis and looking at ways to bolster their performance. Consumers are on the lookout for more convenient ways for transactions with mobile banking and digitalisation. Banks have to proactively seize the opportunities before it is too late for them.