Explaining the unexplainable: A systematic review of explainable AI in finance

Practitioners and researchers who are trying to strike a balance between accuracy and transparency center Explainable Artificial Intelligence (XAI) at the junction of finance. This paper offers a thorough overview of the changing scene of XAI applications in finance together with domain-specific implementations, methodological developments, and trend mapping of research. Using bibliometric and content analysis, we find topic clusters, significant research, and most often used explainability strategies used in financial industries. Our results show a substantial dependence on post-hoc interpretability techniques; attention mechanisms, feature importance analysis and SHAP are the most often used techniques among them. This review stresses the need of multidisciplinary approaches combining financial knowledge with improved explainability paradigms and exposes important shortcomings in present XAI systems.

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Publication Details

Journal
Zenodo (CERN European Organization for Nuclear Research)
Published
2025-09-30
DOI
https://doi.org/10.5281/zenodo.17300634
Primary Topic
Mining and Resource Management
Type
article
Field-Weighted Citation Impact
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article

Explaining the unexplainable: A systematic review of explainable AI in finance

Zenodo (CERN European Organization for Nuclear Research)
Mining and Resource Management
article

Explaining the unexplainable: A systematic review of explainable AI in finance

article en

Abstract

Practitioners and researchers who are trying to strike a balance between accuracy and transparency center Explainable Artificial Intelligence (XAI) at the junction of finance. This paper offers a thorough overview of the changing scene of XAI applications in finance together with domain-specific implementations, methodological developments, and trend mapping of research. Using bibliometric and content analysis, we find topic clusters, significant research, and most often used explainability strategies used in financial industries. Our results show a substantial dependence on post-hoc interpretability techniques; attention mechanisms, feature importance analysis and SHAP are the most often used techniques among them. This review stresses the need of multidisciplinary approaches combining financial knowledge with improved explainability paradigms and exposes important shortcomings in present XAI systems.

Zenodo (CERN European Organization for Nuclear Research)
University of Tulsa (US)
Openalex Percentile: Top 48%
Mining and Resource Management
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