AI integration in financial services: a systematic review of trends and regulatory challenges

Abou-Foul M, Ruiz-Alba JL, Soares A (2021) The impact of digitalization and servitization on the financial performance of a firm: an empirical analysis. Prod Plan Control 32(12):975–989
Google Scholar
Ahern D (2021) Regulatory lag, regulatory friction and regulatory transition as fintech disenablers: Calibrating an EU response to the regulatory sandbox phenomenon. Eur Bus Organ Law Rev 22(3):395–432
Google Scholar
Ahluwalia S, Mahto RV, Guerrero M (2020) Blockchain technology and startup financing: A transaction cost economics perspective. Technol Forecast Soc Change 151:119854
Google Scholar
Ahmed S, Alshater MM, El Ammari A, Hammami H (2022) Artificial intelligence and machine learning in finance: A bibliometric review. Res Int Bus Financ 61:101646
Google Scholar
Ahram et al. (2017) Blockchain technology innovations. In 2017 IEEE technology & engineering management conference (TEMSCON) (pp. 137-141). IEEE
Al Shiam SA, Hasan MM, Pantho MJ, Shochona SA, Nayeem MB, Choudhury MTH, Nguyen TN (2024) Credit Risk Prediction Using Explainable AI. J Bus Manag Stud 6(2):61–66
Google Scholar
Ala’raj M, Abbod MF (2016) Classifiers consensus system approach for credit scoring. Knowl -Based Syst 104:89–105
Google Scholar
Alapati NK, Valleru V (2023) The Impact of Explainable AI on Transparent Decision-Making in Financial Systems. J Innov Technol 6(1):1–5
Ali A, Abd Razak S, Othman SH, Eisa TAE, Al-Dhaqm A, Nasser M, Saif A (2022) Financial fraud detection based on machine learning: a systematic literature review. Appl Sci 12(19):9637
Google Scholar
Alkaraan F, Albitar K, Hussainey K, Venkatesh VG (2022) Corporate transformation toward Industry 4.0 and financial performance: The influence of environmental, social, and governance (ESG). Technol Forecast Soc Change 175:121423
Google Scholar
Alshater MM, Atayah OF, Khan A (2022) What do we know about business and economics research during COVID-19: A bibliometric review. Econ Res -Ekonomska Istraživanja 35(1):1884–1912
Google Scholar
Antweiler W, Frank MZ (2004) Is all that talk just noise? The information content of internet stock message boards. J Financ 59(3):1259–1294
Google Scholar
Aria M, Cuccurullo C (2017) Bibliometrix: An R-tool for comprehensive science mapping analysis. J Informetr 11(4):959–975
Google Scholar
Arner DW, Buckley RP, Zetzsche DA, Veidt R (2020) Sustainability, FinTech and Financial Inclusion. Eur Bus Organ Law Rev 21(1):7–35. https://doi.org/10.1007/s40804-020-00183-y
Google Scholar
Arner DW (2019) The evolution of fintech: A new post-crisis paradigm? In The Evolution of Fintech: A New Post-Crisis Paradigm?: Arner, Douglas W. [Sl]: SSRN
Arslanian H, Fischer F (2019) The future of finance: The impact of fintech, AI, and crypto on financial services. Springer Nature Switzerland AG
Atkins A, Niranjan M, Gerding E (2018) Financial news predicts stock market volatility better than close price. J Financ Data Sci 4(2):120–137
Google Scholar
Aziz A, Naima U (2021) Rethinking digital financial inclusion: Evidence from Bangladesh. Technol Soc 64:101509
Google Scholar
Azzutti A, Ringe W-G, Stiehl HS (2022) The regulation of AI trading from an AI life cycle perspective
Bahoo S, Cucculelli M, Goga X, Mondolo J (2024) Artificial intelligence in finance: A comprehensive review through bibliometric and content analysis. SN Bus Econ 4(2):23
Google Scholar
Bank for International Settlements (2006) Basel committee on banking supervision (BCBS). International convergence of capital measurement and capital standards:: a revised framework
Basha SA, Elgammal MM, Abuzayed BM (2021) Online peer-to-peer lending: A review of the literature. Electron Commer Res Appl 48:101069
Google Scholar
Begenau J, Farboodi M, Veldkamp L (2018) Big data in finance and the growth of large firms. J Monet Econ 97:71–87
Belanche D, Casaló LV, Flavián C (2019) Artificial Intelligence in FinTech: understanding robo-advisors adoption among customers. Ind Manag Data Syst 119(7):1411–1430
Google Scholar
Belanche D, Casaló LV, Flavián M, Loureiro SMC (2023) Benefit versus risk: A behavioral model for using robo-advisors. Service Industries J 45(1):132–159
Berdiyeva O, Islam MU, Saeedi M (2021) Artificial intelligence in accounting and finance: Meta-analysis. Int Bus Rev 3(1):56–79
Beynon MJ, Peel MJ (2001) Variable precision rough set theory and data discretisation: an application to corporate failure prediction. Omega 29(6):561-576
Bibri SE (2020) The eco-city and its core environmental dimension of sustainability: green energy technologies and their integration with data-driven smart solutions. Energy Inform 3(1):4
Google Scholar
Biju AKVN, Thomas AS, Thasneem J (2023) Examining the research taxonomy of artificial intelligence, deep learning & machine learning in the financial sphere—a bibliometric analysis. Quality & Quantity, 1–30
Blondel VD, Guillaume J-L, Lambiotte R, Lefebvre E (2008) Fast unfolding of communities in large networks. J Stat Mech: Theory Exp 2008(10):P10008
Google Scholar
Bollen J, Mao H, Zeng X (2011) Twitter mood predicts the stock market. J Comput Sci 2(1):1–8
Google Scholar
Boukherouaa EB, Shabsigh MG, AlAjmi K, Deodoro J, Farias A, Iskender ES, … Ravikumar R (2021) Powering the digital economy: Opportunities and risks of artificial intelligence in finance. International Monetary Fund
Boyack KW, Klavans R (2010) Co-citation analysis, bibliographic coupling, and direct citation: Which citation approach represents the research front most accurately? J Am Soc Inf Sci Technol 61(12):2389–2404
Google Scholar
Breiman L (2001) Random forests. Mach Learn 45:5–32
Google Scholar
Brummer C, Gorfine, D (2014) Fintech: Building a 21st century regulator’s toolkit. Milken Institute, 5
Butaru F, Chen Q, Clark B, Das S, Lo AW, Siddique A (2016) Risk and risk management in the credit card industry. J Bank Financ 72:218–239
Google Scholar
Caniato F, Gelsomino LM, Perego A, Ronchi S (2016) Does finance solvethe supply chain financing problem? Int J Supply Chain Manag 21(5):534–549
Cardillo G, Chiappini H (2024) Robo-advisors: A systematic literature review. Finance Res Lett 105119
Černevičienė J, Kabašinskas A (2024) Explainable artificial intelligence (XAI) in finance: a systematic literature review. Artif Intell Rev 57(8):216
Chan SW, Chong MW (2017) Sentiment analysis in financial texts. Decis Support Syst 94:53-64
Charitou C, Garcez ADA, & Dragicevic S (2020) Semi-supervised GANs for fraud detection. In 2020 International Joint Conference on Neural Networks (IJCNN), IEEE p 1–8
Chatterjee S, Deng S, Liu J, Shan R, Jiao W (2018) Classifying facts and opinions in Twitter messages: a deep learning-based approach. J Bus Anal 1(1):29–39
Chen W, Yuan X (2021) Financial inclusion in China: an overview. Front Bus Res China 15:1–21
Google Scholar
Chen X-Q, Ma C-Q, Ren Y-S, Lei Y-T, Huynh NQA, Narayan S (2023) Explainable artificial intelligence in finance: A bibliometric review. Financ Res Lett 56:104145. https://doi.org/10.1016/j.frl.2023.104145
Google Scholar
Chokor A, Alfieri E (2021) Long and short-term impacts of regulation in the cryptocurrency market. Q Rev Econ Financ 81:157–173
Google Scholar
Christensen CM, McDonald R, Altman EJ, Palmer JE (2018) Disruptive innovation: An intellectual history and directions for future research. J Manag Stud 55(7):1043–1078
Google Scholar
Cockcroft S, Russell M (2018) Big data opportunities for accounting and finance practice and research. Aust Account Rev 28(3):323–333
Google Scholar
Craja P, Kim A, Lessmann S (2020) Deep learning for detecting financial statement fraud. Decis Support Syst 139:113421
Google Scholar
Das SR, Chen MY (2007) Yahoo! for Amazon: Sentiment extraction from small talk on the web. Manag Sci 53(9):1375–1388
Google Scholar
Day MY, Lee CC (2016) Deep learning for financial sentiment analysis on finance news providers. In 2016 IEEE/ACM International Conference on Advances in Social Networks Analysis and Mining (ASONAM), IEEE p 1127–1134
Demirkan S, Demirkan I, McKee A (2020) Blockchain technology in the future of business cyber security and accounting. J Manag Anal 7(2):189–208
Deodoro J, Gorbanyov M, Malaika M, Sedik TS (2021) Quantum computing and the financial system: spooky action at a distance?. International Monetary Fund
DiMaggio PJ, Powell WW (1983) The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 147–160
Dobre R, Bulin D, Iorgulescu M-C, Oehler-Sincai IM et al (2020) Artificial intelligence sector: The next technology bubble? A comparative analysis with dotcom based on stock market data. Roman Econ J (76):25–37
Donthu N, Kumar S, Mukherjee D, Pandey N, Lim WM (2021) How to conduct a bibliometric analysis: An overview and guidelines. J Bus Res 133:285–296
Google Scholar
Doumpos M, Zopounidis C (2010) A multicriteria decision support system for bank rating. Decis support Syst 50(1):55–63
Google Scholar
Dowling M, Lucey B (2023) ChatGPT for (finance) research: The Bananarama conjecture. Financ Res Lett 53:103662
Google Scholar
Dubey R, Gunasekaran A, Childe SJ, Blome C, Papadopoulos T (2019) Big data and predictive analytics and manufacturing performance: Integrating institutional theory, resource-based view and big data culture. Br J Manag 30(2):341–361
Google Scholar
Dwivedi YK, Hughes L, Ismagilova E, Aarts G, Coombs C, Crick T, Williams MD (2021) Artificial Intelligence (AI): Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice and policy. Int J Inf Manag 57:101994
Ebers M (2023) The European Commission’s Proposal for an Artificial Intelligence Act. In Research Handbook on EU Internet Law, Edward Elgar Publishing p 271–292
El Hajj M, Hammoud J (2023) Unveiling the Influence of Artificial Intelligence and Machine Learning on Financial Markets: A Comprehensive Analysis of AI Applications in Trading, Risk Management, and Financial Operations. J Risk Financ Manage 16(10), 434
Erdélyi OJ, Goldsmith J (2018) Regulating artificial intelligence: Proposal for a global solution. In Proceedings of the 2018 AAAI/ACM Conference on AI, Ethics, and Society p 95–101
Esteva A, Kuprel B, Novoa RA, Ko J, Swetter SM, Blau HM, Thrun S (2017) Dermatologist-level classification of skin cancer with deep neural networks. nature 542(7639):115–118
Google Scholar
Fazal A, Ahmed A, Abbas S (2024) Importance of artificial intelligence in achieving sustainable development goals through financial inclusion. Qualitative Research in Financial Markets
Federal Bureau of Investigation (2011) Financial Crimes Report to the Public. Retrieved Sep. 23, 2024, from https://www.fbi.gov/file-repository/stats-services-publications-financial-crimes-report-2010-2011-financial-crimes-report-2010-2011.pdf/view
Friedler SA, Scheidegger C, Venkatasubramanian S, Choudhary S, Hamilton EP, Roth D (2019) A comparative study of fairness-enhancing interventions in machine learning. In Proceedings of the Conference on Fairness, Accountability, and Transparency, p. 329–338
Frömmel M (2022) International financial markets in the digital era. In Digitalization and the Future of Financial Services: Innovation and Impact of Digital Finance. Springer, p 85–101
Fuller J, Jacobides MG, Reeves M (2019) The myths and realities of business ecosystems. MIT Sloan Manag Rev 60(3):1–9
Gabor D, Brooks S (2020) The digital revolution in financial inclusion: international development in the fintech era. In: Material cultures of financialisation (pp. 69-82). Routledge
Gangwar H, Date H, Ramaswamy R (2015) Understanding determinants of cloud computing adoption using an integrated TAM-TOE model. J Enterp Inf Manag 28(1):107–130
Gao R, Zhang Z, Shi Z, Xu D, Zhang W, Zhu D (2021) A review of natural language processing for financial technology. In International Symposium on Artificial Intelligence and Robotics 2021, vol. 11884. SPIE, p 262–277
Ghoddusi H, Creamer GG, Rafizadeh N (2019) Machine learning in energyeconomics and finance: A review. Energy Econ 81:709–727
Glancy FH, Yadav SB (2011) A computational model for financial reporting fraud detection. Decis support Syst 50(3):595–601
Google Scholar
Gomber P, Koch JA, Siering M (2017) Digital Finance and FinTech: current research and future research directions. J Bus Econ 87:537–580
Gomber P, Kauffman RJ, Parker C, Weber BW (2018) On the fintech revolution: Interpreting the forces of innovation, disruption, and transformation in financial services. J Manag Inf Syst 35(1):220–265
Google Scholar
Gómez JA, Arévalo J, Paredes R, Nin J (2018) End-to-end neural network architecture for fraud scoring in card payments. Pattern Recognit Lett 105:175–181
Google Scholar
Goodell JW, Kumar S, Lahmar O, Pandey N (2023) A bibliometric analysis of cultural finance. Int Rev Financ Anal 85:102442
Google Scholar
Goodell JW, Kumar S, Lim WM, Pattnaik D (2021) Artificial intelligence and machine learning in finance: Identifying foundations, themes, and research clusters from bibliometric analysis. Journal of Behavioral and Experimental Finance, 32, 100577. Retrieved from https://linkinghub.elsevier.com/retrieve/pii/S2214635021001210https://doi.org/10.1016/j.jbef.2021.100577
Goodfellow I (2016) Deep learning
Gorton G, Metrick A (2012) Securitized banking and the run on repo. J Financ Econ 104(3):425–451
Google Scholar
Grgurevic K, Stroughair J (2018) How gamification can attract consumers to sign up. The WealthTech Book: The FinTech Handbook for Investors, Entrepreneurs and Finance Visionaries, 65–67
Gunduz H, Yaslan Y, Cataltepe Z (2017) Intraday prediction of Borsa Istanbul using convolutional neural networks and feature correlations. Knowl -Based Syst 137:138–148
Google Scholar
Gupta M, George JF (2016) Toward the development of a big data analytics capability. Inf Manag 53(8):1049–1064
Google Scholar
Hajek P, Henriques R (2017) Mining corporate annual reports for intelligent detection of financial statement fraud–A comparative study of machine learning methods. Knowl -Based Syst 128:139–152
Google Scholar
Hamza C, Lylia A, Nadine C, Nicolas C (2023) DEFD: Adapted Decision Tree Ensemble for Financial Fraud Detection. In International Conference on Information Technology-New Generations, Cham: Springer International Publishing p. 255–261
Hashem IAT, Yaqoob I, Anuar NB, Mokhtar S, Gani A, Khan SU (2015) The rise of “big data” on cloud computing: Review and open research issues. Inf Syst 47:98–115
Google Scholar
Hernandez Aros L, Bustamante Molano LX, Gutierrez-Portela F, Moreno Hernandez JJ, Rodríguez Barrero MS (2024) Financial fraud detection through the application of machine learning techniques: a literature review. Humanities and Social Sciences. Communications 11(1):1–22
Hilal W, Gadsden SA, Yawney J (2022) Financial fraud: a review of anomaly detection techniques and recent advances. Expert Syst Appl 193:116429
Google Scholar
Hochreiter S (1997) Long Short-term Memory. Neural Computation MIT-Press
Horobet A, Boubaker S, Belascu L, Negreanu CC, Dinca Z (2024) Technology-driven advancements: Mapping the landscape of algorithmic trading literature. Technol Forecast Soc Change 209:123746
Google Scholar
Hu H, Tang L, Zhang S, Wang H (2018) Predicting the direction of stock markets using optimized neural networks with Google Trends. Neurocomputing 285:188–195
Humpherys SL, Moffitt KC, Burns MB, Burgoon JK, Felix WF (2011) Identification of fraudulent financial statements using linguistic credibility analysis. Decis Support Syst 50(3):585–594
Hussain M, Papastathopoulos A (2022) Organizational readiness for digital financial innovation and financial resilience. Int J Prod Econ 243:108326
Huynh TLD, Hille E, Nasir MA (2020) Diversification in the age of the 4th industrial revolution: The role of artificial intelligence, green bonds and cryptocurrencies. Technol Forecast Soc Change 159:120188
Google Scholar
Iaia V (2022) To Be, or Not to Be… Original Under Copyright Law, That Is (One of) the Main Questions Concerning AI-Produced Works. GRUR Int 71(9):793–812
Google Scholar
Inairat M, Al-kassem, AH (2022) How Artificial Intelligence Is Promoting Financial Inclusion? A Study on Barriers of Financial Inclusion
Iovine A, Narducci F, Musto C, de Gemmis M, Semeraro G (2023) Virtual Customer Assistants in finance: From state of the art and practices to design guidelines. Comput Sci Rev 47:100534
Jagtiani J, Lemieux C (2019) The roles of alternative data and machine learning in fintech lending: evidence from the LendingClub consumer platform. Financ Manag 48(4):1009–1029
Google Scholar
Jeong YK, Song M, Ding Y (2014) Content-based author co-citation analysis. J Informetr 8(1):197–211
Google Scholar
Johnson K, Pasquale F, Chapman J (2019) Artificial intelligence, machine learning, and bias in finance: Toward responsible innovation. 88 Fordham Law Review. Retrieved from https://ir.lawnet.fordham.edu/flr/vol88/iss2/5
Kamuangu P (2024) A Review on Financial Fraud Detection using AI and Machine Learning. J Econ, Financ Account Stud 6(1):67–77
Google Scholar
Kearns J (2023) AI’s reverberations across finance. IMF. Retrieved from https://www.imf.org/en/Publications/fandd/issues/2023/12/AI-reverberations-across-finance-Kearns#:~:text=For%20other%20uses%2C%20such%20as,%2C%20ethical%2C%20and%20compliant%20framework
Kingma DP, Ba LJ (2015) Adam: A method for stochastic optimization. arXiv preprint, 1-13, International Conference on Learning Representations, May 7-9, 2015, San Diego
Kochetkov D, Vuković D, Sadekov N, Levkiv H (2019) Smart cities and 5G networks: An emerging technological area? J Geograph Inst “Jovan Cvijić” SASA 69(3):289–295
Google Scholar
Kohtamäki M, Parida V, Patel PC, Gebauer H (2020) The relationship between digitalization and servitization: The role of servitization in capturing the financial potential of digitalization. Technol Forecast Soc Change 151:119804
Google Scholar
Kosala R (2017) Predicting the likelihood of dividend payment from Indonesian public companies with data mining methods. Int J Bus Inf Syst 26(2):139–150
Kshetri N (2021) The role of artificial intelligence in promoting financial inclusion in developing countries, vol. 24, Taylor & Francis
Kumar BS, Ravi V (2016) A survey of the applications of text mining in financial domain. Knowl -Based Syst 114:128–147
Google Scholar
Kurshan E, Shen H, Chen J (2020) Towards self-regulating AI: Challenges and opportunities of AI model governance in financial services. In Proceedings of the First ACM International Conference on AI in Finance, p. 1–8
Kushwaha AK, Kar AK, Dwivedi YK (2021) Applications of big data in emerging management disciplines: A literature review using text mining. Int J Inf Manag Data Insights 1(2):100017
La Croce C (2023) Genai solutions help European AI market thrive in an uncertain economic environment, says IDC. IDC: The Premier Global Market Intelligence Company. Retrieved from https://www.idc.com/getdoc.jsp?containerId=prEUR251222623
Lakonishok J, Maberly E (1990) The weekend effect: Trading patterns of individual and institutional investors. J Financ 45(1):231–243
Google Scholar
Le TL, Abakah EJA, Tiwari AK (2021) Time and frequency domain connectedness and spill-over among fintech, green bonds and cryptocurrencies in the age of the fourth industrial revolution. Technol Forecast Soc Change 162:120382
Google Scholar
LeBaron B, Arthur WB, Palmer R (1999) Time series properties of an artificial stock market. J Econ Dyn Control 23(9-10):1487–1516
Google Scholar
LeBaron B (2006) Agent-based computational finance. Handbook of computational economics 2:1187–1233
Lee I, Shin YJ (2018) Fintech: Ecosystem, business models, investment decisions, and challenges. Bus Horiz 61(1):35–46
Google Scholar
Lee J (2020) Access to finance for artificial intelligence regulation in the financial services industry. Eur Bus Organ Law Rev 21:731–757
Google Scholar
Leone V, de Medeiros OR (2015) Signalling the dotcom bubble: A multiple changes in persistence approach. Q Rev Econ Financ 55:77–86
Google Scholar
Leong C, Tan B, Xiao X, Tan FTC, Sun Y (2017) Nurturing a FinTech ecosystem: The case of a youth microloan startupin China. Int J Inf Manag 37(2):92–97
Li Z, Han J, Song Y (2020) On the forecasting of high‐frequency financial time series based on ARIMA model improved by deep learning. J Forecast 39(7):1081–1097
Lim T (2024) Environmental, social, and governance (ESG) and artificial intelligence in finance: State-of-the-art and research takeaways. Artif Intell Rev 57(4):76
Google Scholar
Linnenluecke MK, Marrone M, Singh AK (2020) Conducting systematic literature reviews and bibliometric analyses. Aust J Manag 45(2):175–194
Google Scholar
Lior A (2021) Insuring AI: The role of insurance in artificial intelligence regulation. Harv JL Tech 35:467
Litman T (2020) Autonomous vehicle implementation predictions: Implications for transport planning. Victoria Transport Policy Institute. Available at https://www.bilbloggen.dk/wp-content/uploads/2023/04/Autonomous-Vehicle-Implementation-Predictions.pdf
Lopez BS, Alcaide A (2020) Blockchain, AI and IoT to improve governance, financial management and control of crisis: Case study COVID-19
Loughran T, McDonald B (2011) When is a liability not a liability? Textual analysis, dictionaries, and 10‐Ks. J Financ 66(1):35–65
Google Scholar
Lu K, Wolfram D (2012) Measuring author research relatedness: A comparison of word-based, topic-based, and author co-citation approaches. J Am Soc Inf Sci Technol 63(10):1973–1986
Google Scholar
Lui A, Lamb GW (2018) Artificial intelligence and augmented intelligence collaboration: regaining trust and confidence in the financial sector. Inf Commun Technol Law 27(3):267–283
Google Scholar
Luo S, Xing M, Zhao J (2022) Construction of artificial intelligence application model for supply chain financial risk assessment. Sci Program 2022(1):4194576
Ma X, Sha J, Wang D, Yu Y, Yang Q, Niu X (2018) Study on a prediction of P2P network loan default based on the machine learning LightGBM and XGboost algorithms according to different high dimensional data cleaning. Electron Commer Res Appl 31:24–39
Google Scholar
Madakam S, Holmukhe RM, Jaiswa, DK (2019) The Future Digital Work Force: Robotic Process Automation (RPA). JISTEM – Journal of Information Systems and Technology Management, 16 Retrieved from https://www.scielo.br/j/jistm/a/m7cqFWJPsWSk8ZnWRN6fR5m/
Maiti M, Grubisic Z, Vukovic DB (2020) Dissecting tether’s nonlinear dynamics during Covid-19. J Open Innov: Technol, Mark, Complex 6(4):161
Google Scholar
Maiti M, Vukovic DB, Frömmel M (2023) Quantifying the asymmetric information flow between Bitcoin prices and electricity consumption. Financ Res Lett 57:104163
Google Scholar
Malo P, Sinha A, Korhonen P, Wallenius J, Takala P (2014) Good debt or bad debt: Detecting semantic orientations in economic texts. J Assoc Inf Sci Technol 65(4):782–796
Google Scholar
Max R, Kriebitz A, Von Websky C (2021) Ethical considerations about the implications of artificial intelligence in finance. In: San-Jose L, Retolaza J, van Liedekerke L (eds) Handbook on ethics in finance (pp. 577–592) Springer, Cham
Meyer JW, Rowan B (1977) Institutionalized organizations: Formal structure as myth and ceremony. Am J Sociol 83(2):340–363
Google Scholar
Mhlanga D (2020) Industry 4.0 in finance: the impact of artificial intelligence (ai) on digital financial inclusion. Int J Financ Stud 8(3):45
Google Scholar
Montevechi AA, de Carvalho Miranda R, Medeiros AL, Montevechi JAB (2024) Advancing credit risk modelling with Machine Learning: A comprehensive review of the state-of-the-art. Eng Appl Artif Intell 137:109082
Google Scholar
More D, Basu P (2013) Challenges of supply chain finance: A detailed study and a hierarchical model based on the experiences of an Indian firm. Bus Process Manag J 19(4):624–647
Nassirtoussi AK, Aghabozorgi S, Wah TY, Ngo DCL (2015) Text mining of news-headlines for FOREX marketprediction: A Multi-layer Dimension Reduction Algorithm with semantics and sentiment. Expert Syst Appl 42(1):306–324
Netzer O, Lemaire A, Herzenstein M (2019) When words sweat: Identifying signals for loan default in the text of loan applications. J Mark Res 56(6):960–980
Google Scholar
Newman ME, Girvan M (2004) Finding and evaluating community structure in networks. Phys Rev E 69(2):026113
Google Scholar
Ngai EW, Hu Y, Wong YH, Chen Y, Sun X (2011) The application of data mining techniques in financial fraud detection: A classification framework and an academic review of literature. Decis support Syst 50(3):559–569
Google Scholar
Olawumi TO, Saka AB, Chan DW, Jayasena NS (2021) 11 scientometric review and analysis. Secondary research methods in the built environment, 147
Oliveira N, Cortez P, Areal N (2016) Stock market sentiment lexicon acquisition using microblogging data and statistical measures. Decis Support Syst 85:62–73
Google Scholar
Oliveira B, Leal CC (2024) Leading the way toward a sustainable future: the role of sustainable finance and environmental, social, and governance investing. Circular Economy Manufact 53–82
Osterrieder J, GPT C (2023) A primer on deep reinforcement learning for finance. Available at SSRN 4316650
Palmié M, Wincent J, Parida V, Caglar U (2020) The evolution of the financial technology ecosystem: An introduction and agenda for future research on disruptive innovations in ecosystems. Technol Forecast Soc Change 151:119779
Google Scholar
Paltrinieri A, Hassan MK, Bahoo S, Khan A (2023) A bibliometric review of sukuk literature. Int Rev Econ Financ 86:897–918
Google Scholar
Pan WT (2012) A new fruit fly optimization algorithm: taking the financial distress model as an example. Knowl-Based Syst 26:69–74
Google Scholar
Park CY, Mercado Jr R (2018) Financial inclusion, poverty, and income inequality. Singap Econ Rev 63(01):185–206
Google Scholar
Pattnaik D, Ray S, Raman R (2024) Applications of artificial intelligence and machine learning in the financial services industry: A bibliometric review. Heliyon
Paul J, Xu Q, Fei S, Veeravalli B, Aung KMM (2019) Practically realisable anonymisation of bitcoin transactions with improved efficiency of the zerocoin protocol. In Advances in Information and Communication Networks: Proceedings of the 2018 Future of Information and Communication Conference (FICC), vol. 2. Springer International Publishing, p 108–130
Paula EL, Ladeira M, Carvalho RN, Marzagão T (2016) Deep learning anomaly detection as support fraud investigation in brazilian exports and anti-money laundering. In 2016 15th IEEE International Conference on Machine Learning and Applications (ICMLA), IEEE, p. 954–960
Peters BG (2022) Institutional theory. In Handbook on theories of governance, Edward Elgar Publishing, p 323–335
Philippon T (2019) On fintech and financial inclusion (No. w26330). Natl Bureau Econ Research, Working Paper 26330. ink: https://www.nber.org/system/files/working_papers/w26330/w26330.pdf
Pisoni G, Díaz-Rodríguez N (2023) Responsible and human centric AI-based insurance advisors. Inf Process Manag 60(3):103273
Google Scholar
Pithadia HJ (2021) Algorithmic Regulation using AI and Blockchain Technology (Unpublished doctoral dissertation)
Pizzi S, Corbo L, Caputo A (2021) Fintech and SMEs sustainable business models: Reflections and considerations for a circular economy. J Clean Prod 281:125217
Google Scholar
Raman R, Pattnaik D, Hughes L, Nedungadi P (2024) Unveiling the dynamics of AI applications: A review of reviews using scientometrics and BERTopic modeling. J Innov Knowl 9(3):100517
Google Scholar
Ranković M, Gurgu E, Martins OMD, Vukasović’ M (2023) Artificial Intelligence and the Evolution of Finance: Opportunities, Challenges and Ethical Considerations. EdTech Journal. Retrieved from https://doi.org/10.18485/edtech.2023.3.1.2
Ravisankar P, Ravi V, Rao GR, Bose I (2011) Detection of financial statement fraud and feature selection using data mining techniques. Decis support Syst 50(2):491–500
Google Scholar
Razzaq A, Yang X (2023) Digital finance and green growth in China: Appraising inclusive digital finance using web crawler technology and big data. Technol Forecast Soc Change 188:122262
Google Scholar
Rtayli N, Enneya N (2020) Enhanced credit card fraud detection based on SVM-recursive feature elimination and hyper-parameters optimization. J Inf Security Appl 55:102596
Salchenberger LM, Cinar EM, Lash NA (1992) Neural networks: A new tool for predicting thrift failures. Decis Sci 23(4):899–916
Schniederjans D, Cao ES, Schniederjans M (2013) Enhancing financial performance with social media: An impression management perspective. Decis Support Syst 55(4):911–918
Google Scholar
Scott C (2012) Regulating everything: From mega-to meta-regulation. Administration 60(1):61–89
Serrano-Cinca C, Gutiérrez-Nieto B (2016) The use of profit scoring as an alternative to credit scoring systems in peer-to-peer (P2P) lending. Decis Support Syst 89:113–122
Google Scholar
Shirazi F, Mohammadi M (2019) A big data analytics model for customer churn prediction in the retiree segment. Int J Inf Manag 48:238–253
Google Scholar
Shiyyab FS, Alzoubi AB, Obidat QM, Alshurafat H (2023) The impact of artificial intelligence disclosure on financial performance. Int J Financ Stud 11(3):115
Google Scholar
Smuha NA (2019) The EU approach to ethics guidelines for trustworthy artificial intelligence. Comput Law Rev Int 20(4):97–106
Google Scholar
Soni G, Kumar S, Mahto RV, Mangla SK, Mittal ML, Lim WM (2022) A decision-making framework for Industry 4.0 technology implementation: The case of FinTech and sustainable supply chain finance for SMEs. Technol Forecast Soc Change 180:121686
Google Scholar
Su C, Flew T (2021) The rise of Baidu, Alibaba and Tencent (BAT) and their role in China’s Belt and Road Initiative (BRI). Glob Media Commun 17(1):67–86
Google Scholar
Tao R, Su C-W, Xiao Y, Dai K, Khalid F (2021) Robo advisors, algorithmic trading and investment management: Wonders of fourth industrial revolution in financial markets. Technol Forecast Social Change 163:120421
Truby J (2020) Governing artificial intelligence to benefit the UN sustainable development goals. Sustain Dev 28(4):946–959
Google Scholar
Tsantekidis A, Passalis N, Tefas A, Kanniainen J, Gabbouj M, Iosifidis A (2017) Forecasting stock prices from the limit order book using convolutional neural networks. In 2017 IEEE 19th Conference on Business Informatics (CBI), vol. 1, IEEE, p 7–12
Tyagi AK, Tiwari S (2024) The future of artificial intelligence in blockchain applications. In Machine learning algorithms using scikit and tensorflow environments, IGI Global, p 346–373
Uthayakumar J, Metawa N, Shankar K, Lakshmanaprabu SK (2020) Financial crisis prediction model using ant colony optimization. Int J Inf Manag 50:538–556
Google Scholar
Vahidov R, He X (2009) Situated DSS for personal finance management: Design and evaluation. Inf Manag 46(8):453–462
Google Scholar
Van Eck N, Waltman L (2010) Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics 84(2):523–538
Google Scholar
Veale M, Zuiderveen Borgesius F (2021) Demystifying the Draft EU Artificial Intelligence Act—Analysing the good, the bad, and the unclear elements of the proposed approach. Comput Law Rev Int 22(4):97–112
Google Scholar
Vukovic D, Lapshina KA, Maiti M (2019) European Monetary Union bond market dynamics: Pre & post crisis. Res Int Bus Financ 50:369–380
Google Scholar
Vyklyuk Y, Vukovic D, Jovanovic A (2013) Forex prediction with neural network: USD/EUR currency pair. Actual Problems Econ (10):261–273
Waltman L, Boyack KW, Colavizza G, van Eck NJ (2020) A principled methodology for comparing relatedness measures for clustering publications. Quant Sci Stud 1(2):691–713
Wang Y, Kim DK, Jeong D (2020) A survey of the application of blockchain in multiple fields of financial services. J Inf Process Syst 16(4):935–958
Wang C, Wang Y, Ye Z, Yan L, Cai W, Pan S (2018) Credit card fraud detection based on whale algorithm optimized BP neural network. In 2018 13th International Conference on Computer Science & Education (ICCSE), IEEE, p 1–4
Wang Q, Kang K, Zhang Z, Cao D (2021). Application of LSTM and Conv1D LSTM network in stock forecasting model. Bilingual Publishing Co
West J, Bhattacharya M (2016) Intelligent financial fraud detection: a comprehensive review. Comput Secur 57:47–66
Google Scholar
Woerner S, Egger DJ (2019) Quantum risk analysis. npj Quantum Inf 5(1):1–8
Google Scholar
Wong BK, Selvi Y (1998) Neural network applications in finance: A review and analysis of literature (1990–1996). Inf Manag 34(3):129–139
Google Scholar
Xing FZ, Cambria E, Welsch RE (2018) Natural language based financial forecasting: a survey. Artif Intell Rev 50(1):49–73
Google Scholar
Yadav Y, & Brummer C (2019). Fintech and the innovation trilemma
Yang S, Yuan Q, Dong J et al. (2020) Are scientometrics, informetrics, and bibliometrics different? Data Sci Informetr 1(01):50
Yang T, Zhang X (2022) Fintech adoption and financial inclusion: Evidence from household consumption in China. J Bank Financ 145:106668
Google Scholar
Yuan S, Musibau HO, Genç SY, Shaheen R, Ameen A, Tan Z (2021) Digitalization of economy is the key factor behind fourth industrial revolution: How G7 countries are overcoming with the financing issues? Technol Forecast Soc Change 165:120533
Google Scholar
Zavolokina L, Dolata M, Schwabe G (2016) The FinTech phenomenon: antecedents of financial innovation perceived by the popular press. Financ Innov 2:1–16
Zetzsche DA, Annunziata F, Arner DW, Buckley RP (2021) The Markets in Crypto-Assets regulation (MiCA) and the EU digital finance strategy. Cap Mark Law J 16(2):203–225
Google Scholar
Zhang G, Hu MY (1998) Neural network forecasting of the British pound/USdollar exchange rate. Omega 26(4):495-506
Zhang J, Zhong S, Wang T, Chao HC, Wang J (2020) Blockchain-based systems and applications: a survey. J Internet Technol 21(1):1–14
Zhang L, Pentina I, Fan Y (2021) Who do you choose? Comparing perceptions of human vs robo-advisor in the context of financial services. J Serv Mark 35(5):634–646
Google Scholar
Zhu Y, Zhou L, Xie C, Wang GJ, Nguyen TV (2019) Forecasting SMEs’ credit risk in supply chain finance with an enhanced hybrid ensemble machine learning approach. Int J Prod Econ 211:22–33
Google Scholar
Zupic I, Cater T (2015) Bibliometric methods in management and organization. Organ Res Methods 18(3):429–472
Google Scholar
link