Financial technology’s role in advancing social responsibility: a bibliometric review of research progress and future opportunities

Mohammad Zakaria AlQudah, Husni Samara, Hanan Qudah, Reem Nazzal, Laith Yousef Bani Hani, Razan Adil Radwan and Samer Alrahamneh

International Journal of Law and Management, 2024, vol. 68, issue 1, 109-138

Abstract: PurposeThe primary aim is to identify and examine the critical success factors (CSFs) in FinTech that influence social responsibility (SR). This study aims to differentiate between internal factors (e.g. risk management, innovation, regulatory compliance, technology integration) and external factors (e.g. market conditions and regulatory changes) and offer insights into effective FinTech practices that enhance SR performance.Design/methodology/approachA comprehensive literature review using the Web of Science database analyzed 143 relevant articles. This review categorizes CSFs and assesses how FinTech practices impact SR.FindingsThe findings indicate that strategic FinTech practices, such as innovation in financial services, effective data management and stakeholder collaboration, are crucial for enhancing operational efficiency, fostering sustainability and improving responsiveness to social and environmental needs. This study also highlights current trends in FinTech and SR, emphasizing the integration of FinTech into broader SR strategies.Practical implicationsThis study provides valuable insights for practitioners on how to leverage FinTech to enhance SR, including strategies for integrating innovative technologies and improving stakeholder engagement.Social implicationsBy advancing the understanding of how FinTech can contribute to SR, this research highlights the potential for FinTech to drive positive social and environmental outcomes, fostering greater corporate responsibility and sustainability.Originality/valueThis research provides a novel bibliometric analysis of FinTech’s role in advancing SR, offering a comprehensive overview of the CSFs and emerging trends in this field.

Keywords: Financial technology; Social responsibility; Innovation; Critical success factors; Systematic literature review (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijlmap:ijlma-08-2024-0286

DOI: 10.1108/IJLMA-08-2024-0286

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