Future and Current Research Directions of FinTech: A Bibliometric Analysis
Abstract
Abstract Views: 6The current study aims to perform a bibliometric analysis of Fintech. For this purpose, 1,135 articles indexed on Scopus from 2002-2021 were reviewed that focused on Fintech and the banking sector. The study identified and searched "Fintech" OR “FinTech” OR Financial Technology” OR “financial technology” keyword within the title indexed on Scopus. In the second step, MS Excel and VOS viewer were used to provide visualization network and descriptive analysis of co-citation, bibliographic coupling, citation, co-occurrence of keywords and co-authorship analysis. The study found that 2021 was the leading year with 389 articles, which accounted for 34.3% of total publications, in which China was identified as the most productive country having 142 publications, accounting for 12.5% of total the publications. The current study's findings can help the future researchers and practitioners in the banking sector to take informed decisions regarding Fintech research, which can equally contribute to the advancement of the present knowledge and understanding of Fintech in the banking industry.
Downloads
References
Abdullah, K. H., & Othman, S. Z. (2022). A bibliometric mapping of five decades research in telecommuting. International Journal of Information Science and Management, 20(2), 229–245. https://ijism.ricest.ac.ir/article_698390.html
Abel, S., Mutandwa, L., & Roux, P. L. (2018). A review of determinants of financial inclusion. International Journal of Economics and Financial Issues, 8(3), 1–9. https://www.econjournals.com/index.php/ijefi/article/view/5458
Agarwal, S., & Zhang, J. (2020). Fintech, lending and payment innovation: A review. Asia-Pacific Journal of Financial Studies, 49(3), 353–367. https://doi.org/10.1111/ajfs.12294
Ahmi, A., Tapa, A., & Hamzah, A. H. (2020). Mapping of financial technology (Fintech) research: A bibliometric analysis. International Journal of Advanced Science and Technology, 29(8), 379–392. https://aidi-ahmi.com/download/publication/2020_IJAST_ahmi_tapa_hamzah.pdf
Amuna, Y. M. A., Abu-Naser, S. S., Shobaki, M. J. A., & Mostafa, Y. A. A. (2019). Fintech: Creative innovation for entrepreneurs. International Journal of Academic Accounting, Finance & Management Research (IJAAFMR), 3(3), 8–15. http://ijeais.org/wp-content/uploads/2019/03/abs/IJAAFMR190302.html
Anyfantaki, S. (2016). The evolution of financial technology (Fintech). Economic Bulletin, 44, 47–62. https://www.bankofgreece.gr/BogEkdoseis/econbull201612.pdf
Ardito, L., Scuotto, V., Del Giudice, M., & Petruzzelli, A. M. (2019). A bibliometric analysis of research on Big Data analytics for business and management. Management Decision, 57(8), 1993–2009. https://doi.org/10.1108/MD-07-2018-0754
Arner, D. W., Barberis, J., & Buckley, R. P. (2015). The evolution of Fintech: A new post-crisis paradigm. Georgetown Journal of International Law, 47, Article e1271.
Arner, D. W., Barberis, J., & Buckey, R. P. (2016). Fintech, regtech, and the reconceptualization of financial regulation. Northwestern Journal of International Law & Business, 37(3), 371–413. https://scholarlycommons.law.northwestern.edu/njilb/vol37/iss3/2/
Ashta, A., & Herrmann, H. (2021). Artificial intelligence and Fintech: An overview of opportunities and risks for banking, investments, and microfinance. Strategic Change, 30(3), 211–222. https://doi.org/10.1002/jsc.2404
Au, Y. A., & Kauffman, R. J. (2008). The economics of mobile payments: Understanding stakeholder issues for an emerging financial technology application. Electronic Commerce Research and Applications, 7(2), 141–164. https://doi.org/10.1016/j.elerap.2006.12.004
Benckendorff, P., & Zehrer, A. (2013). A network analysis of tourism research. Annals of Tourism Research, 43, 121–149. https://doi.org/10.1016/j.annals.2013.04.005
Benziane, R., Roqiya, S., & Houcine, M. (2022). Fintech startup: A bibliometric analysis and network visualization. International Journal of Accounting & Finance Review, 11(1), 8–23. https://doi.org/10.46281/ijafr.v11i1.1715
Biancone, P. P., Saiti, B., Petricean, D., & Chmet, F. (2020). The bibliometric analysis of Islamic banking and finance. Journal of Islamic Accounting and Business Research, 11(9), 2069–2086. https://doi.org/10.1108/JIABR-08-2020-0235
Bouncken, R. B., Komorek, M., & Kraus, S. (2015). Crowdfunding: The current state of research. International Business & Economics Research Journal, 14(3), 407–416. https://doi.org/10.19030/iber.v14i3.9206
Broby, D. (2021). Financial technology and the future of banking. Financial Innovation, 7(1), Article e47. https://doi.org/10.1186/s40854-021-00264-y
Buchak, G., Matvos, G., Piskorski, T., & Seru, A. (2018). Fintech, regulatory arbitrage, and the rise of shadow banks. Journal of Financial Economics, 130(3), 453–483. https://doi.org/10.1016/j.jfineco.2018.03.011
Butt, S., & Khan, Z. A. (2019). Fintech in Pakistan: A qualitative study of bank’s strategic planning for an investment in fin-tech company and its challenges. Independent Journal of Management & Production, 10(6), 2092–2101. https://doi.org/10.14807/ijmp.v10i6.947
Casillas, J., & Acedo, F. (2007). Evolution of the intellectual structure of family business literature: A bibliometric study of FBR. Family Business Review, 20(2), 141–162. https://doi.org/10.1111/j.1741-6248.2007.00092.x
Chang, Y.-W., & Huang, M.-H. (2012). A study of the evolution of interdisciplinarity in library and information science: Using three bibliometric methods. Journal of the American Society for Information Science and Technology, 63(1), 22–33. https://doi.org/10.1002/asi.21649
Coetzee, J. M. (2018). Giving offense: Essays on censorship: University of Chicago Press.
Culnan, M. J. (1987). Mapping the intellectual structure of MIS, 1980-1985: A co-citation analysis. MIS Quarterly, 11(3), 341–353. https://doi.org/10.2307/248680
de la Hoz-Correa, A., Muñoz-Leiva, F., & Bakucz, M. (2018). Past themes and future trends in medical tourism research: A co-word analysis. Tourism Management, 65, 200–211. https://doi.org/10.1016/j.tourman.2017.10.001
Demir, R. M., & Zečević, M. (2022). Wellness tourism research: Bibliometric study of the scientific field. Academica Turistica, 15(1), 53–63. https://doi.org/10.26493/2335-4194.15.53-63
Dibrova, A. (2016). Analysis of crowdfunding in European Union: performance and perspectives. In Contemporary issues in finance: Current challenges from across Europe (Vol. 98, pp. 37-48). Emerald Group Publishing Limited.
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/10.1016/j.jbusres.2021.04.070
Ferreira, F. A. F. (2018). Mapping the field of arts-based management: Bibliographic coupling and co-citation analyses. Journal of Business Research, 85, 348–357. https://doi.org/10.1016/j.jbusres.2017.03.026
Fonseca Bde, P., Sampaio, R. B., Fonseca, M. V., & Zicker, F. (2016). Co-authorship network analysis in health research: Method and potential use. Health Research Policy and Systems, 14(1), 3–10. https://doi.org/10.1186/s12961-016-0104-5
Gabor, D., & Brooks, S. (2017). The digital revolution in financial inclusion: International development in the fintech era. New Political Economy, 22(4), 423–436. https://doi.org/10.1080/13563467.2017.1259298
Gai, K., Qiu, M., & Sun, X. (2018). A survey on FinTech. Journal of Network and Computer Applications, 103, 262–273. https://doi.org/10.1016/j.jnca.2017.10.011
Glänzel, W., & Thijs, B. (2011). Using ‘core documents’ for detecting and labelling new emerging topics. Scientometrics, 91(2), 399–416. https://doi.org/10.1007/s11192-011-0591-7
Goldstein, I., Jiang, W., & Karolyi, G. A. (2019). To Fintech and beyond. The Review of Financial Studies, 32(5), 1647–1661. https://doi.org/10.1093/rfs/hhz025
Gomber, P., Kauffman, R. J., Parker, C., & Weber, B. W. (2018). On the fintech revolution: Interpreting the forces of innovation, disruption, and transformation in financial services. Journal of Management Information Systems, 35(1), 220–265. https://doi.org/10.1080/07421222.2018.1440766
Gomber, P., Koch, J.-A., & Siering, M. (2017). Digital finance and FinTech: Current research and future research directions. Journal of Business Economics, 87, 537–580. https://doi.org/10.1007/s11573-017-0852-x
Goyal, K., & Kumar, S. (2020). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1), 80–105. https://doi.org/10.1111/ijcs.12605
Haddad, C., & Hornuf, L. (2019). The emergence of the global fintech market: Economic and technological determinants. Small Business Economics, 53(1), 81–105. https://doi.org/10.1007/s11187-018-9991-x
Hua, X., Huang, Y., & Zheng, Y. (2019). Current practices, new insights, and emerging trends of financial technologies. Industrial Management & Data Systems, 119(7), 1401–1410. https://doi.org/10.1108/imds-08-2019-0431
Jain, M., & Popli, G. (2012). Role of information technology in the development of banking sector in India. Available at SSRN 2151162. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2151162
JARNEVING, B. (2005). A comparison of two bibliometric methods for mapping of the research front. Scientometrics, 65(2), 245–263. https://doi.org/10.1007/s11192-005-0270-7
Johnson, A.-G., & Samakovlis, I. (2019). A bibliometric analysis of knowledge development in smart tourism research. Journal of Hospitality and Tourism Technology, 10(4), 600–623. https://doi.org/10.1108/jhtt-07-2018-0065
Kamel, S. (2010). The use of information technology to transform the banking sector in developing nations. Information Technology for Development, 11(4), 305–312. https://doi.org/10.1002/itdj.20023
Kumar, S. (2015). Co-authorship networks: A review of the literature. Aslib Journal of Information Management, 67(1), 55–73. https://doi.org/10.1108/ajim-09-2014-0116
Kumar, S., & Jan, J. M. (2013). Mapping research collaborations in the business and management field in Malaysia, 1980–2010. Scientometrics, 97(3), 491–517. https://doi.org/10.1007/s11192-013-0994-8
Leong, K., & Sung, A. (2018). Fintech (Financial Technology): What is it and how to use technologies to create business value in Fintech way? International Journal of Innovation, Management and Technology, 74–78. https://doi.org/10.18178/ijimt.2018.9.2.791
Lee, I., & Shin, Y. J. (2018). Fintech: Ecosystem, business models, investment decisions, and challenges. Business Horizons, 61(1), 35-46. https://doi.org/10.1016/j.bushor.2017.09.003
Li, B., & Xu, Z. (2021). Insights into financial technology (Fintech): A bibliometric and visual study. Financial Innovation, 7(1), Article e69. https://doi.org/10.1186/s40854-021-00285-7
Luo, D., Luo, M., & Lv, J. (2022). Can digital finance contribute to the promotion of financial sustainability? A financial efficiency perspective. Sustainability, 14(7), Article e3979. https://doi.org/10.3390/su14073979
Ma, Y., Zhao, Y., Liu, J., He, X., Wang, B., Fu, S., . . . Luo, B. (2020). Effects of temperature variation and humidity on the death of COVID-19 in Wuhan, China. Science of the Total Environment, 724, Article e138226. https://doi.org/10.1016/j.scitotenv.2020.138226
Martín-Martín, A., Orduna-Malea, E., Thelwall, M., & López-Cózar, E. D. (2018). Google Scholar, Web of Science, and Scopus: A systematic comparison of citations in 252 subject categories. Journal of Informetrics, 12(4), 1160–1177. https://doi.org/10.1016/j.joi.2018.09.002
Mas-Tur, A., Roig-Tierno, N., Sarin, S., Haon, C., Sego, T., Belkhouja, M., . . . Merigó, J. M. (2021). Co-citation, bibliographic coupling and leading authors, institutions and countries in the 50 years of Technological Forecasting and Social Change. Technological Forecasting and Social Change, 165, Article e120487. https://doi.org/10.1016/j.techfore.2020.120487
Mingers, J., & Leydesdorff, L. (2015). A review of theory and practice in scientometrics. European Journal of Operational Research, 246(1), 1–19. https://doi.org/10.1016/j.ejor.2015.04.002
Morkunas, V. J., Paschen, J., & Boon, E. (2019). How blockchain technologies impact your business model. Business Horizons, 62(3), 295–306. https://doi.org/10.1016/j.bushor.2019.01.009
Nanaeva, Z., & Aysan, A. F. (2022). Fintech as a financial disruptor: The bibliometric analysis (preprint). https://doi.org/10.20944/preprints202212.0015.v1
Nasir, A., Shaukat, K., Iqbal, K., A. Hameed, I., Alam, T., & Luo, S. (2021). Trends and directions of financial technology (Fintech) in society and environment: A bibliometric study. Applied Sciences, 11(21), Article e10353. https://doi.org/10.3390/app112110353
Nguyen, D. D., Dinh, H. C., & Nguyen, D. V. (2020). Promotion of Fintech application for the modernization of banking-finance system in Vietnam. The Journal of Asian Finance, Economics and Business, 7(6), 127–131. https://doi.org/10.13106/jafeb.2020.vol7.no6.127
Nugroho, A. S. E., & Hamsal, M. (2021). Research trend of digital innovation in banking: A bibliometric analysis. Journal of Governance Risk Management Compliance and Sustainability, 1(2), 61–73. https://doi.org/10.31098/jgrcs.v1i2.720
Panjwani, D. K., & Shili, D. N. (2020). The impact of Fintech on development of Islamic Banking Sector in the contemporary world. Saudi Journal of Economics and Finance, 4(7), 346–350. https://doi.org/10.36348/sjef.2020.v04i07.006
Pilkington, A., & Fitzgerald, R. (2006). Operations management themes, concepts and relationships: A forward retrospective of IJOPM. International Journal of Operations & Production Management, 26(11), 1255–1275. https://doi.org/10.1108/01443570610705854
Pu, R., Teresiene, D., Pieczulis, I., Kong, J., & Yue, X.-G. (2021). The interaction between banking sector and financial technology companies: Qualitative Assessment—A case of Lithuania. Risks, 9(1), Article e21. https://doi.org/10.3390/risks9010021
Said, F. H., & Kaplelach, S. (2019). Mobile banking innovation and financial performance of selected commercial banks in Kenya. Journal of Finance and Accounting, 3(3), 228–254.
Schueffel, P. (2016). Taming the beast: A scientific definition of fintech. Journal of Innovation Management, 4(4), 32–54. https://doi.org/10.24840/2183-0606_004.004_0004
Schuetz, S., & Venkatesh, V. (2020). Blockchain, adoption, and financial inclusion in India: Research opportunities. International Journal of Information Management, 52, Article e101936. https://doi.org/10.1016/j.ijinfomgt.2019.04.009
Seibel, H. D., & Khadka, S. (2002). SHG banking: A financial technology for very poor microentrepreneurs. Savings and Development, 26(2), 133–150. https://www.jstor.org/stable/25830790
Shim, Y., & Shin, D.-H. (2016). Analyzing China’s Fintech industry from the perspective of Actor–Network Theory. Telecommunications Policy, 40(2–3), 168-181. https://doi.org/10.1016/j.telpol.2015.11.005
Small, H. (1973). Co-citation in the scientific literature: A new measure of the relationship between two documents. Journal of the American Society for Information Science and Technology, 24(4), 265–269. https://doi.org/10.1002/asi.4630240406
Suryono, R. R., Budi, I., & Purwandari, B. (2020). Challenges and trends of financial technology (Fintech): A systematic literature review. Information, 11(12), Article e590. https://doi.org/10.3390/info11120590
Tepe, G., Geyikci, U. B., & Sancak, F. M. (2021). Fintech companies: A bibliometric analysis. International Journal of Financial Studies, 10(2), 1–17. https://doi.org/10.3390/ijfs
Van Eck, N. J., & Waltman, L. (2014). CitNetExplorer: A new software tool for analyzing and visualizing citation networks. Journal of Informetrics, 8(4), 802–823. https://doi.org/10.1016/j.joi.2014.07.006
Zhuang, L., Ye, C., & Lieske, S. N. (2019). Intertwining globality and locality: Bibliometric analysis based on the top geography annual conferences in America and China. Scientometrics, 122(2), 1075–1096. https://doi.org/10.1007/s11192-019-03325-3
Zupic, I., & Čater, T. (2014). Bibliometric methods in management and organization. Organizational Research Methods, 18(3), 429–472. https://doi.org/10.1177/1094428114562629
Copyright (c) 2023 Muhammad Asif, Farhan Sarwar, Rab Nawaz Lodhi
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgement of the work’s authorship and initial publication in this journal.