Applications of financial technology in Islamic finance: a systematic bibliometric review

Abstract

Financial Technology (FinTech) is a multidisciplinary field that integrates finance and technology using mathematical, statistical, computational, and economic models. FinTech is dependent on new technology for its growth. Several technologies are used in finance, including artificial intelligence, machine learning, robotic process automation, the Internet of Things, cloud computing, big data, and blockchain. FinTech applications in Islamic finance are emerging not only as means of enhancing financial results but also as a means of enhancing the sustainability and productivity of the industry. Some examples of FinTech applications in Islamic finance are Islamic gold dinar, Islamic investment platforms, digital Sukuk, digital takaful, Islamic crowd-funding, Islamic microfinance, and Islamic robot advisors. This chapter aims to conduct a comprehensive systematic bibliometric analysis of FinTech applications in Islamic finance. It reviews 225 documents published in the Scopus database from 2009 to 2020. This chapter, using bibliometric analysis, describes the most significant literature, denotes the related discipline fields, and offers insight into the existing research patterns and possible future trends in FinTech applications in Islamic finance. The findings establish a solid grounding for future research in the field of FinTech applications in Islamic finance.