FinTech and consumers: a systematic review and integrative framework

Purpose: This review aims to present the state of the art regarding the impact of financial technology (FinTech) on financial inclusion and its implications for consumers and institutions in terms of accessibility, usage and quality. An integrated framework is developed to illustrate the primary thematic areas for future research. Design/methodology/approach: We performed a systematic literature review (SLR) to summarize and synthesize existing research published in peer-reviewed academic journals. Forty-two eligible studies were identified from the Web of Science database and a cross-reference search. Findings: The results suggest that FinTech promotes financial inclusion for consumers and businesses by increasing the accessibility, usage and quality of financial products. We present a multidisciplinary integrative framework that links the three dimensions of financial inclusion (i.e. access, usage and quality) to financial technology. Finally, we propose several avenues for future research. Originality/value: To the best of the author’s knowledge, this is the first SLR on how FinTech is associated with the accessibility, usage and quality of financial products. We provide an integrative framework for understanding the topic with implications in different fields.