Dr Lalita Mohan Mohapatra, Assistant Professor, Department of Management and Ms Anusha Rajan, Ph.D Scholar of Paari School of Business (PSB) has published a paper titled “ Exploring the Role of FinTech in Sustainable Financial Services: Literature Review and Future Research Agenda” in Q2 Journal SCOPUS (C in ABDC ranking) , Journal of the Knowledge Economy.
This study examines how FinTech affects sustainability in the financial service sector by analysing 129 high-impact articles (2016–2024) using the SPAR 4 SLR method. The review identified five key themes: responsible digital finance, FinTech’s role in economic development, green finance, financial inclusion through technology, and sustainable innovation with regulatory implications.
Key drivers of sustainable FinTech include customer trust, social influence, regulation, green bonds, digital literacy, digital financial inclusion, and blockchain. The findings offer policymakers strategies to encourage sustainable practices, reduce cash dependency, and foster long-term FinTech engagement, while proposing future research directions. The study underscores FinTech’s potential to drive positive sustainability shifts.
A brief abstract of research :
This paper deals with the impact of FinTech on the sustainability of the financial service sector. The study used SPAR 4 SLR to analyse 129 high-impact articles available from 2016 to 2024. The review identified five key themes: responsible finance in the digital era, global perspectives of FinTech and economic development, sustainable finance for a green future, financial inclusion through FinTech adoption, and innovations for sustainable economy and regulatory implications. The study proposes an organising framework based on the key antecedents and consequences identified from the analysis. Some of the key antecedents of sustainable FinTech identified were customer trust (personal), social influence (social), regulation (environmental), green bonds (investment), digital literacy, digital financial inclusion and blockchain (technological). The study highlighted significant implications for policymakers and pinpointed key areas for future research. These include developing strategies to encourage the adoption of sustainable financial practices through regulatory frameworks, exploring methods to reduce cash dependency, and investigating the role of incentives and rewards in fostering long-term engagement with FinTech platforms. Additionally, it proposed specific propositions to further advance the field of sustainable FinTech. The findings demonstrate the capacity of FinTech to catalyse positive shifts toward sustainability.
Practical implementation of research :
The article outlines key practical implications for stakeholders across the financial ecosystem, emphasising that promoting sustainable FinTech requires a fundamental shift from reactive regulation to proactive infrastructure development. For policymakers and governments, this means treating internet access as a public utility, integrating financial literacy into education, and establishing regulatory sandboxes to foster agile innovation.
Central banks are called to evolve into architects of the digital economy by setting clear ESG standards to prevent greenwashing, building robust data infrastructure, and prioritising cybersecurity as a cornerstone of economic stability. For private companies, the roadmap points toward purpose-driven innovation—designing inclusive apps for low-literacy users, leveraging robust security as a competitive advantage, and forming public-private partnerships to co-create solutions. Ultimately, for society and consumers, the practical outcomes promise greater empowerment through access to affordable financial products, transparent tools for participating in the green economy, and a more efficient shift toward digital transactions, provided that vulnerable populations are protected during the transition.
Collaborations :
Bharadhwaj Sivakumaran, Great Lakes Institute of Management, Chennai, Tamil Nadu, India
Future research plans :
The article outlines a comprehensive agenda for future research, identifying critical gaps related to both customer behavior and policymaking. On the customer side, it calls for investigations into how demographic and cultural factors—such as gender, education, and background—influence financial choices during crises, as well as the potential of gamification and behavioral tools to drive long-term user engagement with sustainable FinTech platforms. From a policy perspective, the research agenda challenges scholars to explore how regulations can evolve to enhance risk management and consumer protection without stifling innovation, particularly in areas like data privacy, cybersecurity, and the inclusive transition to cashless societies.
It further urges cross-national studies on the post-Covid impact of mobile money, the role of ICT in rural entrepreneurship, and the development of sector-specific FinTech solutions, all while considering how cultural contexts and global investment disparities in technology shape the ultimate sustainability and stability of the financial sector.