IDEAS home Printed from https://ideas.repec.org/a/rfb/journl/v17y2025i1p71-91.html

Exploring User Acceptance of Fintech Innovations: A Systematic Review of Theoretical Models and Empirical Studies

Author

Listed:
  • Libina Babu
  • Gireesh Kumar G S

Abstract

This paper presents the findings of a systematic review and bibliometric analysis aimed at exploring theoretical models and empirical studies on user acceptance of fintech innovations. Following the PRISMA guidelines, 58 studies published after 2020 were identified through a comprehensive search of the Scopus database. The literature reflects a strong reliance on established models, such as the Technology Acceptance Model and the Unified Theory of Acceptance and Use of Technology; and extensions of these theories/models included study variables such as trust, perceived risk and regulatory impacts. Empirical findings consistently highlight perceived usefulness, ease of use, trustworthiness, and the regulatory environment as important factors that affect user acceptance in a variety of Fintech domains, including mobile payments. The review emphasizes the importance of contextual factors, the perceptions of the users, and the regulatory framework in the driving influence of acceptance behavior. Such longitudinal studies, combined with the examination of emerging fintech innovations, will lead to a further richness of theoretical frameworks and applied practices.

Suggested Citation

  • Libina Babu & Gireesh Kumar G S, 2025. "Exploring User Acceptance of Fintech Innovations: A Systematic Review of Theoretical Models and Empirical Studies," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 17(1), pages 71-91, June.
    • Handle: RePEc:rfb:journl:v:17:y:2025:i:1:p:71-91
    as

    Download full text from publisher

    File URL: http://rfb.ase.ro/articole/RFB_2025V1_art_5.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Saleh Mohamed Shehata & Alaa Mohamed Abdeljawad & Loqman Abdelkader Mazouz & Lamia Yousif Khalaf Aldossary & Maryam Yousif Alsaeed & Mohamed Noureldin Sayed, 2023. "Factors affecting customers' adoption of fintech in the gulf cooperation council countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 13(7), pages 463-477.
    2. A. Irimia-Diéguez & F. Velicia-Martín & M. Aguayo-Camacho, 2023. "Predicting Fintech Innovation Adoption: the Mediator Role of Social Norms and Attitudes," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-23, December.
    3. Ibrahim Radwan Alnsour, 2022. "Impact of fintech over consumer experience and loyalty intentions: an empirical study on Jordanian Islamic Banks," Cogent Business & Management, Taylor & Francis Journals, vol. 9(1), pages 2141098-214, December.
    4. Morshadul Hasan & Thuhid Noor & Jiechao Gao & Muhammad Usman & Mohammad Zoynul Abedin, 2023. "Rural Consumers’ Financial Literacy and Access to FinTech Services," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 780-804, June.
    5. Hyun-Sun Ryu & Kwang Sun Ko, 2020. "Sustainable Development of Fintech: Focused on Uncertainty and Perceived Quality Issues," Sustainability, MDPI, vol. 12(18), pages 1-18, September.
    6. Meghna Aggarwal & Keyurkumar M Nayak & Viral Bhatt, 2023. "Examining the factors influencing fintech adoption behaviour of gen Y in India," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(1), pages 2197699-219, December.
    7. Hussein Ahmed Alshari & M. A. Lokhande, 2022. "The impact of demographic factors of clients’ attitudes and their intentions to use FinTech services on the banking sector in the least developed countries," Cogent Business & Management, Taylor & Francis Journals, vol. 9(1), pages 2114305-211, December.
    8. Wenxiang Zhang & Saeed Siyal & Samina Riaz & Riaz Ahmad & Mohd Faiz Hilmi & Zhi Li, 2023. "Data Security, Customer Trust and Intention for Adoption of Fintech Services: An Empirical Analysis From Commercial Bank Users in Pakistan," SAGE Open, , vol. 13(3), pages 21582440231, July.
    9. Senyo, PK & Osabutey, Ellis L.C., 2020. "Unearthing antecedents to financial inclusion through FinTech innovations," Technovation, Elsevier, vol. 98(C).
    10. Rashed Al Karim & Farid Ahammad Sobhani & Md Karim Rabiul & Nusrat Jahan Lepee & Mohammad Rokibul Kabir & Mohammad Abdul Matin Chowdhury, 2022. "Linking Fintech Payment Services and Customer Loyalty Intention in the Hospitality Industry: The Mediating Role of Customer Experience and Attitude," Sustainability, MDPI, vol. 14(24), pages 1-16, December.
    11. Muhammed Basid Amnas & Murugesan Selvam & Mariappan Raja & Sakthivel Santhoshkumar & Satyanarayana Parayitam, 2023. "Understanding the Determinants of FinTech Adoption: Integrating UTAUT2 with Trust Theoretic Model," JRFM, MDPI, vol. 16(12), pages 1-23, December.
    12. Syed Akmal & Mohammad Talha & Syed Mohammad Faisal & Moid Ahmad & Ahmad Khalid Khan, 2023. "Perceptions about FinTech: New evidences from the Middle East," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(1), pages 2217583-221, December.
    13. Fuzhong Chen & Guohai Jiang, 2022. "The Roles of FinTech with Perceived Mediators in Consumer Financial Satisfaction with Cashless Payments," Mathematics, MDPI, vol. 10(19), pages 1-21, September.
    14. Taewoo Roh & Young Soo Yang & Shufeng Xiao & Byung Il Park, 2024. "What makes consumers trust and adopt fintech? An empirical investigation in China," Electronic Commerce Research, Springer, vol. 24(1), pages 3-35, March.
    15. Muhammed Basid Amnas & Murugesan Selvam & Satyanarayana Parayitam, 2024. "FinTech and Financial Inclusion: Exploring the Mediating Role of Digital Financial Literacy and the Moderating Influence of Perceived Regulatory Support," JRFM, MDPI, vol. 17(3), pages 1-20, March.
    16. Abdelkebir Sahid & Yassine Maleh & Shahram Atashi Asemanjerdi & Pedro Antonio Martín-Cervantes, 2023. "A Bibliometric Analysis of the FinTech Agility Literature: Evolution and Review," IJFS, MDPI, vol. 11(4), pages 1-32, October.
    17. Barbara Jeanne Slazus & Geoffrey Bick, 2022. "Factors that Influence FinTech Adoption in South Africa: A Study of Consumer Behaviour towards Branchless Mobile Banking," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 8(1), pages 43-64, January.
    18. Ankita Das & Debabrata Das, 2020. "Perception, Adoption, and Pattern of Usage of FinTech Services by Bank Customers: Evidences from Hojai District of Assam," Emerging Economy Studies, International Management Institute, vol. 6(1), pages 7-22, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Budi Setiawan & Dien Triana & Ummu Salma Azizah & Andi Sri Wahyuni & Vijay Victor & Robert Jeyakumar Nathan & Maria Fekete-Farkas, 2025. "Financial technology (Fintech) innovation and financial inclusion: comparative study of urban and rural consumers post-Covid-19 pandemic," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-28, December.
    2. Haifeng Zhao & Nosherwan Khaliq & Chunling Li & Judit Oláh, 2024. "In quest of perceived transaction cost’s impact on fintech users’ intention: the moderating role of situational factors," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    3. Sérgio Ricardo Tavares da Silva & Arnaldo Fernandes de Matos Coelho & Catarina Alexandra Neves Proença, 2026. "Drivers of FinTech adoption: a bibliometric approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 12(1), pages 1-35, December.
    4. Mohd Fairuz Adnan & Erisya Nadira Efendi & Muhammad Wafiy Asyraf Zamri & Nuremilianatasha Ridwan & Yusrah Yusoff, 2025. "Factors Influencing User Retention and User Experience in Malaysian Fintech," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3), pages 3259-3272, March.
    5. Yang, Jing & Shi, Jianxun & Xu, Ling, 2025. "Effect of digital finance on household financial asset allocation: a social psychology perspective," The North American Journal of Economics and Finance, Elsevier, vol. 78(C).
    6. Kriti Kishor & Sanjeev K. Bansal & Roshan Kumar, 2025. "The Role of Fintech in Promoting Financial Inclusion to Achieve Sustainable Development: An Integrated Bibliometric Analysis and Systematic Literature Review," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 5664-5692, March.
    7. Ruihui Pu & Deimante Teresiene & Ina Pieczulis & Jie Kong & Xiao-Guang Yue, 2021. "The Interaction between Banking Sector and Financial Technology Companies: Qualitative Assessment—A Case of Lithuania," Risks, MDPI, vol. 9(1), pages 1-22, January.
    8. Abeer F. Alkhwaldi & Esraa Esam Alharasis & Maha Shehadeh & Ibrahim A. Abu-AlSondos & Mohammad Salem Oudat & Anas Ahmad Bani Atta, 2022. "Towards an Understanding of FinTech Users’ Adoption: Intention and e-Loyalty Post-COVID-19 from a Developing Country Perspective," Sustainability, MDPI, vol. 14(19), pages 1-23, October.
    9. AlSuwaidi, Reem Ahmed & Mertzanis, Charilaos, 2024. "Financial literacy and FinTech market growth around the world," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    10. Lanxin Sun & Zhenting Lin & Baowei Lai, 2025. "Examining the Impact of Digital Inclusive Finance on Urban and Rural Consumption Patterns: Insights from China Household Finance Survey in 11 Coastal Regions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(3), pages 12809-12842, September.
    11. Anupama S & Angan Sengupta, 2025. "FinTech and older adults: a global synthesis of enablers, barriers, and research trends for inclusive digital finance," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-29, December.
    12. Ibrahim Mutambik, 2023. "Customer Experience in Open Banking and How It Affects Loyalty Intention: A Study from Saudi Arabia," Sustainability, MDPI, vol. 15(14), pages 1-20, July.
    13. Ruzita Abdul-Rahim & Siti Aisah Bohari & Aini Aman & Zainudin Awang, 2022. "Benefit–Risk Perceptions of FinTech Adoption for Sustainability from Bank Consumers’ Perspective: The Moderating Role of Fear of COVID-19," Sustainability, MDPI, vol. 14(14), pages 1-24, July.
    14. repec:bcp:journl:v:9:y:2025:i:11:p:5268-5284 is not listed on IDEAS
    15. Chong Li & Yingqi Li, 2023. "Factors Influencing Public Risk Perception of Emerging Technologies: A Meta-Analysis," Sustainability, MDPI, vol. 15(5), pages 1-37, February.
    16. Hornuf, Lars & Safari, Kulondwa & Voshaar, Johannes, 2025. "Mobile fintech adoption in Sub-Saharan Africa: A systematic literature review and meta-analysis," Research in International Business and Finance, Elsevier, vol. 73(PA).
    17. Amna Albuainain & Simon Ashby, 2025. "Enablers and Barriers in FinTech Adoption: A Systematic Literature Review of Customer Adoption and Its Impact on Bank Performance," FinTech, MDPI, vol. 4(3), pages 1-35, September.
    18. Monica Martinez-Blasco & Francesc Prior Sanz & Francesc Martori Adrian, 2025. "Mapping innovation tools and financial inclusion: a bibliometric analysis," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-36, December.
    19. Perry Sadorsky, 2024. "Using Precious Metals to Reduce the Downside Risk of FinTech Stocks," FinTech, MDPI, vol. 3(4), pages 1-14, October.
    20. Cristina Chueca Vergara & Luis Ferruz Agudo, 2021. "Fintech and Sustainability: Do They Affect Each Other?," Sustainability, MDPI, vol. 13(13), pages 1-19, June.
    21. Vikas Sharma & Ramona Rupeika-Apoga & Tejinder Singh & Munish Gupta, 2025. "Sustainable Investments in the Blue Economy: Leveraging Fintech and Adoption Theories," JRFM, MDPI, vol. 18(7), pages 1-28, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rfb:journl:v:17:y:2025:i:1:p:71-91. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tatu Lucian (email available below). General contact details of provider: https://edirc.repec.org/data/ffasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.