Financial Innovation, FinTech, and Monetary Policy: Mapping Scientific Research

Abstract

The expansion of financial innovation and FinTech is transforming financial intermediation, payment systems, and monetary behavior, raising new questions about money demand and monetary policy transmission. Despite the growing body of research, existing bibliometric studies remain largely focused on financial innovation or FinTech separately and do not provide an integrated mapping of the intersection between financial innovation, FinTech, money demand, and monetary policy, particularly in relation to the contribution of Metwalli et al. (2025b). Against this background, the research question is: how has scientific research on financial innovation, FinTech, money demand, and monetary policy been structured between 2000 and 2024? The study aims to identify the main characteristics of scientific production, collaboration networks, and thematic structures within this field. A bibliometric analysis is conducted using publications indexed in Scopus. The search, performed on March 2, 2026, uses a TITLE-ABS-KEY query combining financial innovation or fintech with monetary policy or money demand and considers English-language articles classified under Economics and published at the final stage between 2000 and 2024. The year 2025 was excluded in order to maintain a complete and stabilized final year within the temporal scope defined by the research protocol. Of the 263 documents initially identified, 111 articles were retained. The United States is the leading contributor with 26 publications, followed by the United Kingdom with 18 and China with 14. VOSviewer co-occurrence mapping identifies 18 keywords grouped into 5 clusters, with 57 links and a total link strength of 117. The results reveal a research structure centered on money demand and monetary policy, financial innovation and FinTech, financial inclusion, and emerging digital monetary forms, particularly cryptocurrencies and central bank digital currencies (CBDCs). The mapping provides a clearer characterization of the scientific structure of the field and identifies avenues for future research at the intersection of digital transformation, monetary behavior, and monetary policy transmission.

JEL Classification : E41; E42; E52; E58; G20; G23; O33.

Paper type: Empirical Research: Bibliometric Analysis.