During the past few decades, the banking sector has witnessed the adoption of disruptive technologies including Internet banking, digital banking, mobile banking, neo-banking, mobile wallets etc. The objective of this research is to identify, review and summarize the extant literature on the adoption of technology in the banking sector underlying two theories, namely: TAM (Technology Adoption Model), and UTAUT (Unified Theory of Adoption and Usage of Technology). Among the various theories used to measure technology adoption, TAM and UTAUT were specifically selected, because of their wide acceptance and extensive usage in empirical studies across the world, with adequate sample size and considerable predictive relevance. The most related articles to the study were selected through the filtration process through the inclusion–exclusion criterion. The study revealed that the number of articles pertaining to technology adoption in the banking sector has been increasing over the years. Moreover, the analysis revealed that the majority of the studies have utilized the TAM or Extended TAM model, with additional constructs such as perceived trust, website design and e-service quality to examine the behavior and intention to adopt technology in the banking sector.