Scientometric Analysis on Digital Banking Innovation Model

Abstract

This study examines the development of research trends in digital banking innovation-related articles published in reputable journals indexed by Scopus between 1996 and 2022. The analysis focuses on trends in keywords, journals and research paths for 350 publications on digital banking innovation. The results of the systematic review analysis mapping are then reviewed in considerable detail to examine digital banking development strategies that can be utilized by the banking industry in Indonesia. This study constructs bibliometric maps using descriptive statistical approaches and bibliometric analysis with the biblioshiny R program. The study presents nine research paths based on the results of MCA (Multiple Correspondence Analysis) keyword cluster mapping, which can be used as a conceptual structure map. In addition, to negotiate the changing competitive landscape, three strategies were provided in this research: 1) Omni-Channel; 2) Open Bank and 3) Smart Banking. This includes incumbents addressing customer retention, challengers pursuing a low-cost digital experience, niche companies providing banking as a service, and social media platforms developing payment platforms. Banks must be capable of adapting their business innovation model, organizational structure, work culture, and infrastructure in order to perform a digital transformation. Digital channels must be utilized to provide services and innovations within banks. The main thing is how to find the right balance between efforts to optimize opportunities and carry out various digital innovations in an effort to increase market share in the future.