A review of 28 studies (2019–2023) shows growing academic interest in the relationship between fintech and banking risk, using diverse models and frameworks. Research focuses on bank‑level, country‑level, and fintech‑specific measures, analyzing risks like insolvency, credit, liquidity, and market risk. The study highlights the importance of interdisciplinary and cross‑country research, recommends adopting multi‑theoretical frameworks, and urges consideration of individual‑level factors such as financial literacy and digital access. For policymakers, it offers guidance on monitoring fintech’s impact and stresses the need for comprehensive regulation and global cooperation to ensure financial stability and effective risk management.