FinTech and monetary policy: systematic literature review

Financial technologies (FinTech) are transforming global financial systems and calling into question the effectiveness of monetary policies. By changing payment behaviors, money demand, and credit channels, they directly influence monetary transmission and financial stability. However, the literature remains fragmented on the magnitude and direction of these effects, particularly in emerging economies. This study conducts a systematic review of the literature according to the PRISMA protocol, using the Scopus and Web of Science databases, supplemented by automated selection via Python. After filtering, 31 articles published between 2000 and 2025 are analyzed along three axes: FinTech and monetary transmission, financial inclusion and effectiveness, and the role of CBDCs.The results reveal an ambivalent effect: FinTech weakens certain traditional channels while creating new ones through digitalization and financial inclusion. It promotes competition, transparency, and responsiveness among agents, ultimately improving monetary transmission. CBDCs appear to be a complementary instrument, provided they are adequately regulated.