Digital finance in the era of digital transformation: a bibliometric analysis and systematic literature review

Purpose In the era of digital transformations, this study aims to highlight key developments and emerging themes driven by technological advancements and provide insights for future research and practical applications in the field of digital finance. Design/methodology/approach A systematic literature review and bibliometric analysis of 467 documents (2005–2024) indexed in the Scopus database was conducted. The Bibliometrix package (via Biblioshiny interface) in RStudio and VOSviewer software were utilized for performance analysis and science mapping, identifying conceptual structures and collaboration networks. Findings Results highlight a significant post-2020 surge in digital finance research, catalyzed by COVID-19 and rapid technological integration. Thematic mapping revealed four quadrants: motor, niche, emerging/declining and basic themes, offering strategic insights into evolving priorities. Science mapping indicated strong global collaboration networks, led by China, India and the United States. Four major research clusters were identified: Sustainability and Green Finance; Fintech Innovation and Financial Stability; Digital Inclusion and Entrepreneurship and Digital Adoption and Behavioral Intent. Research limitations/implications Theoretical insights offer the Triggers-Barriers-Facilitators-Outcomes (TBFO) framework, a conceptual model that categorizes the key drivers, challenges, enablers and impacts of digital finance. It establishes a structured foundation for advancing digital finance research. Practically, it identifies strategic priorities such as strengthening digital infrastructure, enhancing user trust and fostering innovation through fintech collaborations. Policy recommendations support the formulation of regulatory frameworks, the expansion of digital literacy initiatives and the integration of green finance to build an inclusive, sustainable, digital financial ecosystem. Originality/value This research contributes to a novel global perspective, combining bibliometric insights with the innovative TBFO framework, providing practical value to policymakers, industries, managers and researchers.