Mapping the digital banking landscape: a multi-dimensional exploration of fintech, digital payments, and e-wallets, with insights into current scenarios and future research

Sujeeth Ungratwar, Dipasha Sharma () and Satish Kumar
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Sujeeth Ungratwar: Symbiosis International University
Dipasha Sharma: Symbiosis International University
Satish Kumar: Indian Institute of Management Nagpur

Palgrave Communications, 2025, vol. 12, issue 1, 1-22

Abstract: Abstract Over the past two decades, digital banking has undergone significant advancement. However, numerous studies have not investigated this subject thoroughly. This study seeks to address this gap by following a systematic literature review (SPAR-4-SLR) method to analyze 1959 research papers on digital banking published between 1983 and 2020. Methodologies such as bibliometric analysis, science mapping, network analysis, and Multidimensional Scaling are utilized. This study examined the patterns and interconnections within the research. Furthermore, the machine learning analysis of the selected literature offers novel insights and identifies key relationships in the field. This study presents five principal findings and their implications from this extensive review, highlighting areas for future research. It is distinguished by its comprehensive examination of such a vast collection of studies and efforts to propose a forward-looking research framework. Science mapping through network analysis of keyword co-occurrence reveals seven major themes that define the body of knowledge or intellectual structure of digital banking research: ATM banking, Internet banking, mobile banking, peer-to-peer financing, cryptocurrency, digital payments, and fintech. Five of these seven major themes pertain to digital banking types, with digital payments being a distinct theme. A review of these articles and reflection on the existing gaps in each major theme led to the identification of several underexplored or underrepresented issues that future research could address to enrich the major themes in digital banking research. These include digital payments to customers without smartphones, expanding the reach of digital banking, mitigating the risks involved in digital banking, fintech sustainability, and the commercialization of cryptocurrency. This study proposes future directions and prominent research questions in the digital banking core field and subthemes, including e-wallets, mobile banking, and a Unified Payment Interface.

Date: 2025
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DOI: 10.1057/s41599-025-05186-z

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