Blockchain-Driven Transformation in Fintech Ecosystem: TISM Framework for Scalable and Inclusive Financial Ecosystem

The rapid advancement of digital technologies has accelerated the evolution of FinTech 3.0, where blockchain technology is emerging as a transformative infrastructure for modern financial systems. This study develops a strategic framework for blockchain adoption in financial services, with particular relevance for India and other emerging economies. Drawing on a systematic review of 41 scholarly studies published over the past decade, the research identifies critical adoption drivers and addresses the lack of integrated frameworks that capture the interdependencies among regulatory, technological, organizational, and user-centric factors. To analyse these complex relationships, the study employs Total Interpretive Structural Modelling (TISM) and Fuzzy MICMAC analysis, identifying fourteen key factors influencing blockchain adoption in the FinTech ecosystem. The findings highlight regulatory compliance, interoperability, trust, and transparency as primary drivers shaping the adoption environment, while factors such as infrastructure investment, cybersecurity, and user accessibility act as supporting enablers. The proposed framework offers practical policy insights for regulators, financial institutions, and FinTech firms to promote scalable, secure, and inclusive blockchain-based financial ecosystems.