Digital Finance and FinTech: current research and future research directions

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Journal Article

Gomber, Peter
Koch, Jascha-Alexander
Siering, Michael
Publication year:

Since decades, the financial industry has experienced a continuous evolu- tion in service delivery due to digitalization. This evolution is characterized by expanded connectivity and enhanced speed of information processing both at the customer interface and in back-office processes. Recently, there has been a shift in the focus of digitalization from improving the delivery of traditional tasks to introducing fundamentally new business opportunities and models for financial service compa- nies. Digital Finance encompasses a magnitude of new financial products, financial businesses, finance-related software, and novel forms of customercommunication and interaction—delivered by FinTech companies and innovative financial service pro- viders. Against this backdrop, the research on finance and information systems has started to analyze these changes and the impact of digital progress on the financial sector. Therefore, this article reviews the current state of research in Digital Finance that deals with these novel and innovative business functions. Moreover, it gives an outlook on potential future research directions. As a conceptual basis for reviewing this field, the Digital Finance Cube, which embraces three key dimensions of Digital Finance and FinTech, i.e., the respective business functions, the technologies and technological concepts applied as well as the institutions concerned, is introduced. This conceptualization supports researchers and practitioners when orientating in the field of Digital Finance, allows for the arrangement of academic research relatively to each other, and enables for the revelation of the gaps in research.

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