The Changing Landscape of Financial Services in the Age of Digitalization: A Bibliometric Analysis

Abstract

The advent of technology has led to significant changes in many facets of the economy, including financial services industry. To secure the future of financial services, there is a need to streamline it through digitalization. Thus, the focus of the current study is to examine and uncover the emerging trends through bibliometric analysis of Scopus-indexed publications on digital financial services (DFS) and also to highlight the research agenda and thrust areas that may be covered by prospective research studies. The current research study used performance analysis, bibliographic coupling, and co-occurrence analysis techniques to conduct a bibliometric analysis of research publications in the area of DFS. The articles were assessed and visualized utilizing VoSviewer user interface. Descriptive and visual representations were used to portray the discussions on citations, authors, and source contributions toward the evolution of financial services in the digital realm. The study also shed light on the innovations that have penetrated the financial sector, helping service providers and financial institutions to innovate traditional financial products and services and produce new ones with the help of blockchain, machine learning, and advanced analytics. Also, this article offers a comprehensive roadmap for further research as well as a broad perspective on the leading nations, authors, and publications in the field.