Digital transformation in finance: A review of current research and future directions in FinTech

Abstract

The finance sector's digital metamorphosis, catalyzed by the rise of Financial Technology (FinTech), has profoundly reshaped the financial services landscape. This manuscript embarks on a thorough exploration of contemporary research surrounding digital transformation in finance, with a keen eye on FinTech's trajectory. Commencing with an intricate dissection of the conceptual framework and evolutionary journey of FinTech, the manuscript plunges into the labyrinthine expanse of existing literature, spotlighting pivotal themes, dynamic trends, and empirical revelations. Furthermore, it navigates through the labyrinth of challenges and opportunities inherent in FinTech research, including the labyrinthine realms of regulatory compliance, the intricate tapestry of security concerns, and the ever-evolving vistas of technological advancements. By meticulously pinpointing research lacunae, the manuscript sets forth a constellation of future research trajectories aimed at deepening our comprehension of digital metamorphosis in finance. These trajectories encompass traversing interdisciplinary bridges, navigating through the enigmatic corridors of emerging trends such as blockchain and artificial intelligence, and grappling with the ethical and societal implications that loom large. Ultimately, this manuscript adds a kaleidoscopic dimension to the ongoing discourse on FinTech, offering a multifaceted prism of insights into current research trends while charting a course for future research odysseys.