Consumer Behaviour and Acceptance in Fintech Adoption: A Systematic Literature Review

Abstract

The literature review was conducted systematically, following a rigorous process to address specific research questions. The review procedure was designed to provide guidance and minimize researcher bias. It outlined the study selection process, including inclusion and exclusion criteria, research questions, search methods, quality evaluation, and data extraction and synthesis. The Scopus database was utilized for this systematic literature review, and a comprehensive search was conducted to identify relevant studies. We used the Kitchenham systematic literature review (SLR) method required to process metadata at the time of processing this SLR, and PRISMA guidelines for reporting systematic literature reviews and meta-analyses. Additionally, VOSviewer analysis was employed to gather data on the sources used by individuals and organizations to access information about fintech products and services, and to understand their influence on acceptance behaviour. A total of 850 publications were identified and screened, with 70 fintech customer acceptance studies meeting the inclusion and exclusion criteria. These studies were published between 2012 and 2022 and were limited to Scopus indexed journals. To maintain focus, specific research questions (RQ) were developed, and data were gathered accordingly to address each RQ while adhering to quality standards. Reviews and quality checklists were used to extract relevant data, prioritizing the most comprehensive publication when multiple sources reported the same data. The primary studies analysed indicated that research into fintech acceptability spans various scientific disciplines, including computer science, information technology, business management and marketing. The technology acceptance model (TAM) emerged as the most used approach for measuring user acceptance of fintech services, as identified in 43 out of 70 publications. Furthermore, several researchers have incorporated additional factors such as performance, social influence, cultural and religious values, knowledge, and service quality to enhance the understanding of fintech acceptance.