Digitalization and Adoption of Islamic FinTech: Bibliometric Literature Mapping Using VOSviewer
Keywords:
Islamic FinTech; Bibliometric; VOSviewer; Sharia Compliance; Financial Inclusion; Blockchain; Conventional BanksAbstract
Islamic FinTech has emerged as a result of integrating Sharia precepts with financial innovation through digital technology. Using a bibliometric analysis with VOSviewer and a PRISMA-guided systematic literature review of 56 publications indexed in Scopus and Web of Science, this study charts the evolution of Islamic FinTech research published between 2020 and 2025. Adoption studies focusing on trust, religiosity, and Sharia compliance; technological advancements like blockchain and artificial intelligence for zakat and waqf management; regulatory and governance challenges, specifically cybersecurity gaps and Sharia compliance; and financial inclusion through MSME-oriented crowdfunding and the emergence of conventional banks' Islamic digital windows are the four main research clusters identified by the analysis. Indonesia produces the most publications (15 documents, or 27%), followed by Malaysia and the Middle East. Research progression is revealed through a temporal overlay: behavioral studies from 2020-2022 gave way to technical advancements in 2023-2025, with conventional banks accounting for 62% of digital transaction volume.
Islamic FinTech has the potential to improve ethical financial access; however, it has difficulties with Sharia compliance verification and regulatory lag. Collaboration between regulators, academia, and industry is crucial to striking a balance between the speed of innovation and the maturity of Sharia governance.
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