Abstract

Digital finance has piqued the curiosity of academics, students, and institutions all around the globe for more than a decade. Innovative financial services companies are offering a wide range of new financial products and new ways of interacting with customers via digital finance (Fintech). Research on finance and information systems has thus examined these shifts as well as the implications of technological advancements on the financial industry. Through presenting a bibliometric analysis, the article summarizes how scientific research has developed on the connections between financial technology developments and digital finance during the previous years. According to the ScienceDirect database, we base this literature review on journals and articles that have been published. We conducted a content analysis of 343 articles based on the discovered clusters, finding research gaps and suggesting actionable areas for further study. The results offer a solid path for future research in this area. We discuss the significance of the aforementioned publications and articles as well as potential areas of future study. The next step is to analyze the citation linkages between the most important articles to identify how they are related to one another. For financial technology research, the study looks at the way they are organized. The research is concerned with the roles of Fintech and the limits of research in digital financing. We point out potential routes for researchers to take to expand on current knowledge while also seeking possibilities for new, interesting, and creative research that adds to the expansion of the topic of research.

Highlights

  • The financial industry has witnessed continuous development in providing services due to digitization (Brandl and Hornuf, 2020; Kanungo and Gupta, 2021)

  • The bibliometric study data are represented in the overall research work on Digital Finance and FinTech in the ScienceDirect database

  • This article aims to explain digital finance and financial technology (Fintech), two distinct trends imposed in these areas

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Summary

Introduction

The financial industry has witnessed continuous development in providing services due to digitization (Brandl and Hornuf, 2020; Kanungo and Gupta, 2021). This improvement is distinguished by increased communication and better information processing in the client interface and back-office processes. The emphasis on digitization has shifted from enhancing the performance of conventional tasks to mainly creating employment possibilities and new business models for financial services firms (Gomber et al, 2017; Legner et al, 2017). Research on finance and information systems has started to examine these shifts as well as the financial sector’s influence on digital development.

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