Trends and Directions of Financial Technology (Fintech) in Society and Environment: A Bibliometric Study
Source abstract
Abstract
The contemporary innovations in financial technology (fintech) serve society with an environmentally friendly atmosphere. Fintech covers an enormous range of activities from data security to financial service deliverables that enable the companies to automate their existing business structure and introduce innovative products and services. Therefore, there is an increasing demand for scholars and professionals to identify the future trends and directions of the topic. This is why the present study conducted a bibliometric analysis in social, environmental, and computer sciences fields to analyse the implementation of environment-friendly computer applications to benefit societal growth and well-being. We have used the ‘bibliometrix 3.0’ package of the r-program to analyse the core aspects of fintech systematically. The study suggests that ‘ACM International Conference Proceedings’ is the core source of published fintech literature. China leads in both multiple and single country production of fintech publications. Bina Nusantara University is the most relevant affiliation. Arner and Buckley provide impactful fintech literature. In the conceptual framework, we analyse relationships between different topics of fintech and address dynamic research streams and themes. These research streams and themes highlight the future directions and core topics of fintech. The study deploys a co-occurrence network to differentiate the entire fintech literature into three research streams. These research streams are related to ‘cryptocurrencies, smart contracts, financial technology’, ‘financial industry stability, service, innovation, regulatory technology (regtech)’, and ‘machine learning and deep learning innovations’. The study deploys a thematic map to identify basic, emerging, dropping, isolated, and motor themes based on centrality and density. These various themes and streams are designed to lead the researchers, academicians, policymakers, and practitioners to narrow, distinctive, and significant topics.
Source: crossref · Quality: baseline
Research context
OpenAlex topics: FinTech, Crowdfunding, Digital Finance · Blockchain Technology Applications and Security · Microfinance and Financial Inclusion
SciVX discovery tags are terminology-based. OpenAlex topics are source-provided classifications.
Affiliations
Department of Management Sciences, Lahore College for Women University, Lahore 54000, Pakistan
School of Information and Physical Sciences, The University of Newcastle, Callaghan, NSW 2308, Australia
Department of Data Science, University of the Punjab, Lahore 54890, Pakistan
Institute of Business & Management, University of Engineering and Technology, Lahore 54000, Pakistan
Department of ICT and Natural Sciences, Norwegian University of Science and Technology, 7491 Trondheim, Norway
Department of Computer Science and Information Technology, Virtual University of Pakistan, Lahore 54890, Pakistan
References (100+)
Show source-provided references
1. Fintech: AI powers financial services to improve people’s lives10.1145/3239550 ↗
2. Can fintech improve the efficiency of commercial banks?—An analysis based on big data10.1016/j.ribaf.2020.101338 ↗
3. The impact of fintech M&A on stock returns10.1016/j.ribaf.2019.01.012 ↗
4. Fintech and bank: Past, present, and future
5. Fintech10.1007/s12599-017-0464-6 ↗
6. Hybrid customer interaction10.1007/s12599-014-0366-9 ↗
7. Futures of artificial intelligence through technology readiness levels10.1016/j.tele.2020.101525 ↗
8. Visualizing a user’s cognitive and emotional journeys: A fintech case10.1007/978-3-030-49713-2_38 ↗
9. State-of-the-Art in Applying Machine Learning to Electronic Trading10.1007/978-3-030-64466-6_1 ↗
10. Li, W., Bao, R., Harimoto, K., Chen, D., Xu, J., and Su, Q. (2020, January 11–17). Modeling the stock relation with graph network for overnight stock movement prediction. Proceedings of the IJCAI International Joint Conference on Artificial Intelligence, Yokohama, Japan.10.24963/ijcai.2020/626 ↗
11. Two Novel Blockchain-Based Market Settlement Mechanisms Embedded into Smart Contracts for Securely Trading Renewable Energy10.1109/ACCESS.2020.3040764 ↗
12. Online Money Flows: Exploring the Nature of the Relation of Technology’s New Creature to Money Supply—A Suggested Conceptual Framework and Research Propositions
13. Role of FinTech mechanism to technological innovation: A conceptual framework
14. A Bibliometric Analysis of Corona Pandemic in Social Sciences: A Review of Influential Aspects and Conceptual Structure10.1109/ACCESS.2020.3008733 ↗
15. Bibliometrix: An R-tool for comprehensive science mapping analysis10.1016/j.joi.2017.08.007 ↗
16. Salameh, A., and Bass, J.M. (2020). Heterogeneous Tailoring Approach Using the Spotify Model. ACM International Conference Proceeding Series, Association for Computing Machinery.10.1145/3383219.3383251 ↗
17. Kumarathunga, M., Calheiros, R., and Ginige, A. (2020). Towards Trust Enabled Commodity Market for Farmers with Blockchain Smart Contracts. ACM International Conference Proceeding Series, Association for Computing Machinery.10.1145/3399871.3399891 ↗
18. Paulson-Luna, M., and Reily, K. (2020). The Financial Derivative Ecosystem is Old-Decentralized Ledger Technology is its Fountain of Youth. ACM International Conference Proceeding Series, Association for Computing Machinery.10.1145/3399871.3399904 ↗
19. The Role of Technologies on Banking and Insurance Sectors in the Digitalization and Globalization Era—A Select Study10.1007/978-981-15-7234-0_12 ↗
20. Bringing the QR Code to Canada: The Rise of AliPay and WeChatPay in Canadian e-Commerce Markets10.1007/978-3-030-63092-8_42 ↗
21. Ethereum Blockchain Enabled Secure and Transparent E-Voting10.1007/978-3-030-63092-8_46 ↗
22. Identifying fintech innovations with patent data: A combination of textual analysis and machine-learning techniques10.1007/978-3-030-43687-2_70 ↗
23. The Role of Information Technology in Fintech Innovation: Insights from the New York City Ecosystem
24. Zhu, X., Zhang, M., Hong, Y., and He, R. (2020). Interpretable Machine Learning Based on Integration of NLP and Psychology in Peer-to-Peer Lending Risk Evaluation. Natural Language Processing and Chinese Computing, Springer.10.1007/978-3-030-60450-9 ↗
25. Microgrid Trading Game Model Based on Blockchain Technology and Optimized Particle Swarm Algorithm10.1109/ACCESS.2020.3044980 ↗
26. A Blockchain-Enabled Decentralized Energy Trading Mechanism for Islanded Networked Microgrids10.1109/ACCESS.2020.3038824 ↗
27. Blockchain-Enabled Integrated Market Platform for Contract Production10.1109/ACCESS.2020.3039620 ↗
28. A 2020 perspective on “Information asymmetry in initial coin offerings (ICOs): Investigating the effects of multiple channel signals”10.1016/j.elerap.2020.100936 ↗
29. Exploring the growth challenge of mobile payment platforms: A business model perspective10.1016/j.elerap.2019.100908 ↗
30. A 2020 perspective on “A fair contract signing protocol with blockchain support”10.1016/j.elerap.2020.100981 ↗
31. Governing the gold rush into emerging markets: A case study of Indonesia’s regulatory responses to the expansion of Chinese-backed online P2P lending10.1186/s40854-020-00202-4 ↗
32. How signaling and search costs affect information asymmetry in P2P lending: The economics of big data10.1186/s40854-015-0018-1 ↗
33. The impact of FinTech startups on incumbent retail banks’ share prices10.1186/s40854-017-0076-7 ↗
34. Sustainability, FinTech and Financial Inclusion10.1007/s40804-020-00183-y ↗
35. The Identity Challenge in Finance: From Analogue Identity to Digitized Identification to Digital KYC Utilities10.1007/s40804-019-00135-1 ↗
36. Smart Precision Finance for Small Businesses Funding10.1007/s40804-020-00180-1 ↗
37. Donald, D.C. (2020). Hong Kong’s fintech automation: Economic benefits and social risks. Regulating FinTech in Asia, Springer. Perspectives in Law, Business and Innovation.10.2139/ssrn.3544072 ↗
38. FinTech, regTech, and the reconceptualization of financial regulation
39. Arner, D.W., Barberis, J., and Buckley, R.P. (2018). RegTech: Building a Better Financial System. Handbook of Blockhain, Digital Finance and Inclusion, Elsevier Inc.
40. Buckley, R.P., Arner, D.W., Zetzsche, D.A., and Selga, E.K. (2021, September 02). Techrisk. Singap. J. Leg. Stud., Available online: http://hub.hku.hk/handle/10722/293372.
41. The road to RegTech: The (astonishing) example of the European Union10.1057/s41261-019-00104-1 ↗
42. On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services10.1080/07421222.2018.1440766 ↗
43. Combining machine-based and econometrics methods for policy analytics insights10.1016/j.elerap.2017.04.004 ↗
44. Special issue: Contemporary research on payments and cards in the global fintech revolution10.1016/j.elerap.2015.09.005 ↗
45. Why do businesses go crypto? An empirical analysis of initial coin offerings10.1016/j.jeconbus.2018.04.001 ↗
46. (2021, September 02). History | BINUS UNIVERSITY. Available online: https://binus.ac.id/history/.
47. Zhang, Y.-D., Senjyu, T., So-In, C., and Joshi, A. (2021). Leverage from Blockchain in Commodity Exchange: Asset-Backed Token with Ethereum Blockchain Network and Smart Contract. Smart Trends in Computing and Communications: Proceedings of SmartCom 2020, Springer. Smart Innovation, Systems and Technologies.
48. Consumer Protection in Lending Fintech Transaction in Indonesia: Opportunities and Challenges10.1088/1742-6596/1477/5/052016 ↗
49. Revisited the Technology Acceptance Model with E-Trust for Peer-to-Peer Lending in Indonesia (Perspective from Fintech Users)10.14716/ijtech.v11i4.4032 ↗
50. Adoption of financial technology (Fintech) in mutual fund/ unit trust investment among Malaysians: Unified Theory of Acceptance and Use of Technology (UTAUT)10.14419/ijet.v7i2.29.13140 ↗
51. Yohanes, K., Junius, K., Saputra, Y., Sari, R., Lisanti, Y., and Luhukay, D. (2020, January 13–14). Unified Theory of Acceptance and Use of Technology (UTAUT) model perspective to enhance user acceptance of fintech application. Proceedings of the 2020 International Conference on Information Management and Technology, ICIMTech 2020, Bandung, Indonesia.10.1109/ICIMTech50083.2020.9211250 ↗
52. Soongsil University (2021, September 02). Available online: http://www.ssu.ac.kr/web/eng/home.
53. Kim, J.-H., Jo, S.-I., Hong, S.-W., and Gim, G.-Y. (2021, September 02). Small foreign currency remittance based on block chain in Korea and Vietnam. Asia Life Sci., Available online: https://scholarworks.bwise.kr/ssu/handle/2018.sw.ssu/34793.10.14257/astl.2018.150.48 ↗
54. A machine learning framework for adaptive FinTech security provisioning
55. A study on mobile easy payment service based on fintech to reduce smart divide and income gap10.14257/ijast.2018.116.04 ↗
56. Tran, T.A., Han, K.S., and Yun, S.Y. (2021, September 02). Factors influencing the intention to use mobile payment service using fintech systems: Focused on Vietnam. Asia Life Sci., Available online: https://scholarworks.bwise.kr/ssu/handle/2018.sw.ssu/34383.
57. Evaluation of mobile application in user’s perspective: Case of P2P lending apps in FinTech industry
58. Effects of fintech on stock return: Evidence from retail banks listed in Indonesia stock exchange10.13106/jafeb.2020.vol7.no7.095 ↗
59. Yulianita Gitaharie, B., Abbas, Y., Dewi, M.K., and Handayani, D. (2020). Research on Firm Financial Performance and Consumer Behavior, Nova Science Publishers, Inc.
60. Saputra, A.D., Burnia, I.J., Shihab, M.R., Anggraini, R.S.A., Purnomo, P.H., and Azzahro, F. (2019, January 19–20). Empowering Women Through Peer to Peer Lending: Case Study of Amartha.com. Proceedings of the 2019 International Conference on Information Management and Technology, ICIMTech 2019, Jakarta/Bali, Indonesia.10.1109/ICIMTech.2019.8843721 ↗
61. What is core and what future holds for blockchain technologies and cryptocurrencies: A bibliometric analysis10.1109/ACCESS.2020.3046931 ↗
62. Michaels, L., and Homer, M. (2018). Regulation and Supervision in a Digital and Inclusive World. Handbook of Blockhain, Digital Finance and Inclusion, Elsevier Inc.10.1016/B978-0-12-810441-5.00014-2 ↗
63. Birch, D.G.W., and Parulava, S. (2018). Ambient Accountability: Shared Ledger Technology and Radical Transparency for Next Generation Digital Financial Services. Handbook of Blockhain, Digital Finance and Inclusion, Elsevier Inc.10.1016/B978-0-12-810441-5.00017-8 ↗
64. Ebenhoch, P. (2021, September 02). Blockchain Compliance. Jusletter IT, Available online: https://jusletter-it.weblaw.ch/en/issues/2018/IRIS/blockchain-complianc_04fc310f86.html__ONCE&login=false.
65. The FinTech Revolution and Financial Regulation: The Case of Online Supply-Chain Financing10.1017/als.2016.65 ↗
66. Fan, P.S. (2018). Singapore Approach to Develop and Regulate FinTech. Handbook of Blockhain, Digital Finance and Inclusion, Elsevier Inc.10.1016/B978-0-12-810441-5.00015-4 ↗
67. Fenwick, M., Vermeulen, E.P.M., and Corrales, M. (2018). Business and regulatory responses to artificial intelligence: Dynamic regulation, innovation ecosystems and the strategic management of disruptive technology. Robotics, AI and the Future of Law, Springer. Perspectives in Law, Business and Innovation.10.1007/978-981-13-2874-9_4 ↗
68. Fenwick, M., Kaal, W.A., and Vermeulen, E.P.M. (2018). Regulation tomorrow: Strategies for regulating new technologies. Transnational Commercial and Consumer Law, Springer. Perspectives in Law, Business and Innovation.10.1007/978-981-13-1080-5_6 ↗
69. The predicament of fintechs in the environment of traditional banking sector regulation—An analysis of regulatory sandboxes as a possible solution
70. Financial technology: A review of extant literature10.1108/SEF-07-2019-0270 ↗
71. Makarov, V.O., and Davydova, M.L. (2021). On the concept of regulatory sandboxes. “Smart Technologies” for Society, State and Economy. ISC 2020, Springer. Lecture Notes in Networks and Systems.10.1007/978-3-030-59126-7_112 ↗
72. Liao, F. (2020). Does china need the regulatory sandbox? A preliminary analysis of its desirability as an appropriate mechanism for regulating fintech in China. Regulating FinTech in Asia, Springer. Perspectives in Law, Businsess and Innovation.10.1007/978-981-15-5819-1_5 ↗
73. Time and frequency domain connectedness and spill-over among fintech, green bonds and cryptocurrencies in the age of the fourth industrial revolution10.1016/j.techfore.2020.120382 ↗
74. Ashmarina, S.I., Horak, J., Vrbka, J., and Suler, P. (2021). Main Trends in the Market of Electronic Financial Services in Russia. Economic Systems in the New Era: Stable Systems in an Unstable World. IES 2020, Springer. Lecture Notes in Networks and Systems.
75. Teeluck, R., Durjan, S., and Bassoo, V. (2021). Blockchain technology and emerging communications applications. Security and Privacy Applications for Smart City Development, Springer. Studies in Systems, Decision and Control.10.1007/978-3-030-53149-2_11 ↗
76. Zitouni, R., Agueh, M., Houngue, P., and Soude, H. (2020). Proof of concept of blockchain integration in P2P lending for developing countries. Infrastructure and e-Services for Developing Countries. AFRICOMM 2019, Springer. Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering.10.1007/978-3-030-41593-8 ↗
77. Delegated Proof of Reputation Consensus Mechanism for Blockchain-Enabled Distributed Carbon Emission Trading System10.1109/ACCESS.2020.3041689 ↗
78. Cerri, R., and Prati, R.C. (2020). Stocks Clustering Based on Textual Embeddings for Price Forecasting. Intelligent Systems. BRACIS 2020, Springer.10.1007/978-3-030-61380-8 ↗
79. Deep Learning for Multi-factor Models in Regional and Global Stock Markets
80. Predicting Stock Market Trends Using Machine Learning and Deep Learning Algorithms Via Continuous and Binary Data; A Comparative Analysis10.1109/ACCESS.2020.3015966 ↗
81. Financial Trading Strategy System Based on Machine Learning
82. Obthong, M., Tantisantiwong, N., Jeamwatthanachai, W., and Wills, G. (2020, January 5–6). A survey on machine learning for stock price prediction: Algorithms and techniques. Proceedings of the FEMIB 2020—2nd International Conference on Finance, Economics, Management and IT Business, Prague, Czech Republic.10.5220/0009340700630071 ↗
83. Risk profiles of financial service portfolio for women segment using machine learning algorithms10.1007/978-3-030-50436-6_42 ↗
84. Rozi, M.F., Sucahyo, Y.G., Gandhi, A., and Ruldeviyani, Y. (2020). Appraising Personal Data Protection in Startup Companies in Financial Technology: A Case Study of ABC Corp. ACM International Conference Proceeding Series, Association for Computing Machinery.10.1145/3379310.3379322 ↗
85. Jiang, H., and Zhang, J. (2020). Discovering systemic risks of China’s Listed Banks by CoVaR approach in the digital economy era. Mathematics, 8.10.3390/math8020180 ↗
86. Blockchain-Enabled Secure Energy Trading with Verifiable Fairness in Industrial Internet of Things10.1109/TII.2020.2974537 ↗
87. Yao, S., Li, J., Liu, D., Wang, T., Liu, S., Shao, H., and Abdelzaher, T. (2020). Deep compressive offloading: Speeding up neural network inference by trading edge computation for network latency. SenSys 2020—Proceedings of the 2020 18th ACM Conference on Embedded Networked Sensor Systems, Association for Computing Machinery, Inc.10.1145/3384419.3430898 ↗
88. A Survey of Privacy-Preserving Techniques for Blockchain
89. Gayathri, S., and Mohana, R.S. (2019, January 12–14). Optical Character Recognition in Banking Sectors Using Convolutional Neural Network. Proceedings of the 3rd International Conference on I-SMAC IoT in Social, Mobile, Analytics and Cloud, I-SMAC 2019, Palladam, India.10.1109/I-SMAC47947.2019.9032514 ↗
90. Toward the mobility-oriented heterogeneous transport system based on new ICT environments—Understanding from a viewpoint of the systems innovation theory10.1016/j.iatssr.2018.07.001 ↗
91. Garrido, G.M., Miehle, D., Luckow, A., and Matthes, F. (2020, January 10–13). A Blockchain-based Flexibility Market Platform for EV Fleets. Proceedings of the Clemson University Power Systems Conference, PSC 2020, Clemson, SC, USA.10.1109/PSC50246.2020.9131332 ↗
92. Gupta, S., Sharma, H., Hassija, V., and Saxena, V. (2020, January 5–7). BitCom: A Commerce Model on Blockchain. Proceedings of the 6th International Conference on Signal Processing and Communication, ICSC 2020, Noida, India.10.1109/ICSC48311.2020.9182739 ↗
93. He, T., Gui, X., Zhang, Z., Zhou, D., Hu, Z., Chen, J., and Li, W. (2020, January 29–31). Blockchain-Based Distributed Energy Trading Scheme. Proceedings of the 2020 Asia Energy and Electrical Engineering Symposium, AEEES 2020, Chengdu, China.10.1109/AEEES48850.2020.9121447 ↗
94. Contesting digital finance for the poor
95. What have we learnt from 10 years of fintech research? A scientometric analysis10.1016/j.techfore.2020.120022 ↗
96. Ravikumar, S., and Saraf, P. (2020, January 5–7). Prediction of stock prices using machine learning (regression, classification) Algorithms. Proceedings of the 2020 International Conference for Emerging Technology, INCET 2020, Belgaum, India.10.1109/INCET49848.2020.9154061 ↗
97. Ampomah, E.K., Qin, Z., and Nyame, G. (2020). Evaluation of tree-based ensemble machine learning models in predicting stock price direction of movement. Information, 11.10.3390/info11060332 ↗
98. Nikkei Stock Market Price Index Prediction Using Machine Learning10.1088/1742-6596/1566/1/012043 ↗
99. Predicting next day direction of stock price movement using machine learning methods with persistent homology: Evidence from Kuala Lumpur Stock Exchange10.1016/j.asoc.2020.106422 ↗
100. Investigating algorithmic stock market trading using ensemble machine learning methods10.31449/inf.v44i3.2904 ↗