From technological revolution to digital transformation in non-banking financial companies: A future research direction

Digital transformation implies the infusion of digital technologies into all processes at non-banking financial companies (NBFCs) to make operations effective and to improve customer experience. In this context, advanced technologies in artificial intelligence (AI), machine learning (ML), analytics with big data, blockchain, cloud computing, and Robotic process automation (RPA) are implemented to streamline processes and functions, enabling the delivery of personalised services. This study examines the technological revolution in NBFCs through a systematic literature review (SLR). Five hundred twenty-two articles are finalised based on various keyword combinations and inclusion/exclusion criteria. The study's findings are based on the year of publication, journals, country of research, and most cited papers. Seven themes are also identified in the research domain. For future research agendas, context, intervention, mechanisms, and outcomes (CIMO) will be used to propose future research propositions. Six future research propositions are proposed to help the NBFCs shape the adoption and implementation of digital transformation in NBFCs.