Research Trend On Fintech Adoption Over the Years: A Bibliometric Analysis

  • Abdurrahman Mansyur Sultan Zainal Abidin University
    (MY)
  • Mega Oktaviany Universitas Gunadarma
    (ID)
  • Engku Muhammad Tajuddin bin Engku Ali
    (MY)
  • Armin Rusli Makatita
    (ID)
Keywords: Fintech Adoption, Bibliometric Analysis, Scopus Database, VOSviewer

Abstract

The rapid development of the fintech industry globally underscores the importance of understanding the factors influencing individuals' or groups' intentions to adopt financial technology. This study employs a bibliometric analysis, utilizing the VOSviewer app on data extracted from the Scopus database, to explore existing research on fintech adoption. A total of 478 documents published from the inception of the field until June 2023 were included in the analysis. The results reveal diverse themes, encompassing various fintech types (Islamic Fintech, Financial Technology (FinTech), Crowdfunding, Electronic Money, Mobile Money, Mobile Payment, Block-chain), dominant variables (Intention to Use, Perceived Risk, Perceived Usefulness, Trust), and adoption theory models (TAM Technology Acceptance Model, UTAUT). This comprehensive overview provides insights into the evolving landscape of fintech adoption research, serving as a valuable resource for academics, researchers, and industry professionals, encouraging further exploration in this dynamic field.

References

Adamek, J., & Solarz, M. (2023). Adoption factors in digital lending services offered by FinTech lenders. OECONOMIA COPERNICANA, 14(1), 169–212. https://doi.org/10.24136/oc.2023.005

Adji, Y. B., Muhammad, W. A., Akrabi, A. N. L., & Noerlina. (2023). Perkembangan Inovasi Fintect di Indonesia. JURNAL BECOSS (Business Economic, Communication, and Social Sciences), 5(1), 47–58. https://doi.org/10.21512/becossjournal.v5i1.8675

AFTECH. (2021). Annual Members Survey 2021. Fintech Indonesia, 1–59.

Ahmi, A. (2021). Bibliometric analysis for beginners (1st ed.). Kuala Lumpur, Malaysia: Academic Research Society of Malaysia. Retrieved from https://www.aidi-ahmi.com/index.php/bibliometric-analysis-for-beginners

Akpan, I. J., Udoh, E. A. P., & Adebisi, B. (2022). Small business awareness and adoption of state-of-the-art technologies in emerging and developing markets, and lessons from the COVID-19 pandemic. Journal of Small Business and Entrepreneurship, 34(2), 123–140. https://doi.org/10.1080/08276331.2020.1820185

Albayati, H., Kim, S. K., & Rho, J. J. (2020). Accepting financial transactions using blockchain technology and cryptocurrency: A customer perspective approach. Technology in Society, 62, 101320. https://doi.org/10.1016/j.techsoc.2020.101320

Alshater, M. M., Saba, I., Supriani, I., & Rabbani, M. R. (2022). Fintech in islamic finance literature: A review. Heliyon, 8(9), e10385. https://doi.org/10.1016/j.heliyon.2022.e10385

Baas, J., Schotten, M., Plume, A., Côté, G., & Karimi, R. (2020). Scopus as a curated, high-quality bibliometric data source for academic research in quantitative science studies. Quantitative Science Studies, 1(1), 377–386. https://doi.org/10.1162/qss_a_00019

Belanche, D., Casaló, L. V., & Flavián, C. (2019). Artificial Intelligence in FinTech: understanding robo-advisors adoption among customers. Industrial Management and Data Systems, 119(7), 1411–1430. https://doi.org/10.1108/IMDS-08-2018-0368

Chang, V., Baudier, P., Zhang, H., Xu, Q., Zhang, J., & Arami, M. (2020). How Blockchain can impact financial services – The overview, challenges and recommendations from expert interviewees. Technological Forecasting and Social Change, 158(April), 120166. https://doi.org/10.1016/j.techfore.2020.120166

Chen, K.-C. (2020). Implications of Fintech Developments for Traditional Banks. International Journal of Economics and Financial Issues, 10(5), 227–235. https://doi.org/10.32479/ijefi.10076

Ellili, N. O. D. (2023). FinTech Adoption during COVID-19 Pandemic: Bibliometric analysis. What Lessons for the Future? SSRN Electronic Journal. https://doi.org/10.2139/ssrn.4604116

ELSEVIER. (2020). SCOPUS: Your brilliance , connected. Retrieved June 13, 2023, from Scopus website: https://www.elsevier.com/__data/assets/pdf_file/0017/114533/Scopus-fact-sheet-2022_WEB.pdf

Ernst & Young. (2019). Global FinTech Adoption Index 2019. Ernst & Young, 1–44. Retrieved from https://www.ey.com/en_gl/ey-global-fintech-adoption-index

Fachrurrozie, Wahyudin, A., Nurkhin, A., & Mukhibad, H. (2021). Increasing Financial Technology Literacy For Students And Indonesian Islamic Boarding School Caregivers Facing The Era Of Industrial Revolution Through Investigation Of Values In The Inspiration Class. Jurnal Pengabdian Al-Ikhlas, 6(April), 326–336.

Financial Stability Board. (2017). Financial Stability Implications from Fintech: Supervisory and Regulatory Issues that Merit Authorities’ Attention. In Financial Stability Board. Retrieved from www.fsb.org/emailalert

Hirawati, H., & Harsono, M. (2023). Islamic Financial Technology dalam Kajian Filsafat Ilmu. Ekonomi, Keuangan, Investasi Dan Syariah (EKUITAS), 4(3), 850–860. https://doi.org/10.47065/ekuitas.v4i3.2711

Hu, Z., Ding, S., Li, S., Chen, L., & Yang, S. (2019). Adoption intention of fintech services for bank users: An empirical examination with an extended technology acceptance model. Symmetry, 11(3). https://doi.org/10.3390/sym11030340

Hwang, Y., Park, S., & Shin, N. (2021). Sustainable development of a mobile payment security environment using fintech solutions. Sustainability (Switzerland), 13(15), 1–15. https://doi.org/10.3390/su13158375

Jünger, M., & Mietzner, M. (2020). Banking goes digital: The adoption of FinTech services by German households. Finance Research Letters, 34. https://doi.org/10.1016/j.frl.2019.08.008

Loo, M. K. L. (2019). Enhancing Financial Inclusion in ASEAN: Identifying the Best Growth Markets for Fintech. Journal of Risk and Financial Management, 12(4), 181. https://doi.org/10.3390/jrfm12040181

Mahmud, K., Joarder, M. A., & Muheymin-us-sakib, K. (2023). Adoption Factors of FinTech : Evidence from an Emerging Economy Country-Wide Representative Sample. International Journal of Financial Studies, 11(9), 1–27. https://doi.org/https://doi.org/10.3390/ ijfs11010009

Marsal-Llacuna, M. L. (2018). Future living framework: Is blockchain the next enabling network? Technological Forecasting and Social Change, 128(August), 226–234. https://doi.org/10.1016/j.techfore.2017.12.005

Milian, E. Z., Spinola, M. de M., & Carvalho, M. M. d. (2019). Fintechs: A literature review and research agenda. Electronic Commerce Research and Applications, 34, 100833. https://doi.org/10.1016/j.elerap.2019.100833

Munodei, A., & Sibindi, A. B. (2023). Fintech Innovation in Social Service Provision: A Bibliometric Review. Social Sciences, 12(1). https://doi.org/10.3390/socsci12010047

Riyanti, Y. E., Kurniawati, A. A., Fawwaz, E., Sitorus, H., & Margaretha, F. (2022). Faktor-Faktor Yang Mempengaruhi Minat Dalam Mengadopsi Layanan Fintech. Syntax Literate : Jurnal Ilmiah Indonesia, 7(2), 1–23.

Sabir, A. A., Ahmad, I., Ahmad, H., Rafiq, M., Khan, M. A., & Noreen, N. (2023). Consumer Acceptance and Adoption of AI Robo-Advisors in Fintech Industry. Mathematics, 11(1311), 1–24. https://doi.org/https://doi.org/10.3390/ math11061311

Sahabuddin, M., Sakib, M. N., Rahman, M. M., Jibir, A., Fahlevi, M., Aljuaid, M., & Grabowska, S. (2023). The Evolution of FinTech in Scientific Research: A Bibliometric Analysis. Sustainability (Switzerland), 15(9), 1–16. https://doi.org/10.3390/su15097176

Sofyan, S., Sofyan, A. S., & Mansyur, A. (2022). Evaluating Indonesian Islamic Financial Technology Scholarly Publications : A Bibliometric Analysis. IKONOMIKA: Jurnal Ekonomi Dan Bisnis Islam, 7(2), 233–256.

Stewart, H., & Jürjens, J. (2018). Data security and consumer trust in FinTech innovation in Germany. Information and Computer Security, 26(1), 109–128. https://doi.org/10.1108/ICS-06-2017-0039

Sudirman, L., & Disemadi, H. S. (2022). Titik Lemah Industri Keuangan Fintech di Indonesia : Kajian Perbandingan Hukum. Jurnal Pembangunan Hukum Indonesia, 4(3), 471–493.

van Eck, N. J., & Waltman, L. (2014). Visualizing Bibliometric Networks. In Measuring Scholarly Impact: Methods and Practice. Springer. https://doi.org/10.1007/978-3-319-10377-8_13

Werth, O., Rodríguez, D., Albert, C., Michael, T., & Jan, H. B. (2023). What determines FinTech success ?— A taxonomy ‑ based analysis of FinTech success factors. Electronic Markets, 1–22. https://doi.org/10.1007/s12525-023-00626-7

Yan, C., Bakkar, A., Nazma, S., & Qianli, A. (2023). Factors influencing the adoption intention of using mobile financial service during the COVID ‑ 19 pandemic : the role of FinTech. Environmental Science and Pollution Research, 30(22), 61271–61289. https://doi.org/10.1007/s11356-021-17437-y

Yi, T. Z., Ashikin, N., Rom, M., Hassan, N., Samsurijan, M. S., & Ebekozien, A. (2023). The Adoption of Robo-Advisory among Millennials in the 21st Century : Trust , Usability and Knowledge Perception. Sustainability, 15, 1–16. https://doi.org/https://doi.org/10.3390/su15076016

Yonghee, K., Jeongil, C., Young-Ju, P., & Jiyoung, Y. (2016). The Adoption of Mobile Payment Services for “Fintech.” International Journal of Applied Engineering Research, 11, 1058–1061. Retrieved from https://www.scopus.com/record/display.uri?eid=2-s2.0-84959530641&origin=resultslist&sort=cp-f&src=s&sid=34e40196f7aee4801e74480c6205a6ae&sot=b&sdt=b&s=TITLE-ABS-KEY%28The+adoption+of+mobile+payment+services+for+%22fintech%22%29&sl=68&sessionSearchId=34e40

Zhao, Q., Tsai, P. H., & Wang, J. L. (2019). Improving financial service innovation strategies for enhancing China’s banking industry competitive advantage during the fintech revolution: A hybrid MCDM model. Sustainability (Switzerland), 11(5), 1–29. https://doi.org/10.3390/su11051419

Published
2023-12-29
How to Cite
Mansyur, A., Oktaviany, M., bin Engku Ali, E. M. T., & Makatita, A. R. (2023). Research Trend On Fintech Adoption Over the Years: A Bibliometric Analysis. LAA MAISYIR : Jurnal Ekonomi Islam, 10(2), 217-241. https://doi.org/10.24252/lamaisyir.v10i2.39201
Section
Artikel
Abstract viewed = 227 times