Research Trend of Digital Innovation in Banking: A Bibliometric Analysis
DOI:
https://doi.org/10.31098/jgrcs.v1i2.720Keywords:
Digital Innovation, Banking, Bibliometric Study, Research Trend, VOSviewerAbstract
This paper aims to analyze research trends of Digital Innovation in Banking scientifically through bibliometric studies. Initial data were collected using Publish or Perish from 2011 to 2021 by searching for published papers indexed by Crossref, Google Scholar, Microsoft Academic, and Scopus database. The results show that scientific publications of Digital Innovation in Banking have increased gradually since 2016. The Scopus database is used because it contains journals and conference proceedings deemed more relevant by the academic community with detailed DOIs. VOSviewer and Microsoft excel were used as the tools to analyze co-authorship, co-occurrence, and citation obtained from the Scopus database. The visualization of the research trends of Digital Innovation in Banking resulted in three co-occurrence clusters leading to some of the topic areas mentioned in the results; 1) Digital Innovation in Banking related to the technology implementation and environmental innovations, 2) Digital Innovation in Banking business management in the world, and 3) Digital Innovation in Banking in relating to its effect and benefit to society. Technology is rapidly changing the financial services industry, especially banks. Digital innovation resulting from the use of digital technology will help banking improve customer experience and maintain banking performance. These study findings will help researchers recognize the research trends of Digital Innovation in Banking globally and suggest future research directions.
Downloads
References
Anagnostopoulos, I. (2018). Fintech and regtech: Impact on regulators and banks. Journal of Economics and Business, 100, 7–25. https://doi.org/10.1016/j.jeconbus.2018.07.003
Ari Masitoh, P. N., Latifah, S., Saregar, A., Aziz, A., Suharto, & Jamaluddin, W. (2021). Bibliometric analysis of physics problem solving. IOP Conference Series: Earth and Environmental Science, 1796(1). https://doi.org/10.1088/1742-6596/1796/1/012009
Avital, M., Andersson, M., Nickerson, J., Sundararajan, A., Van Alstyne, M., & Verhoeven, D. (2014). The collaborative economy: A disruptive innovation or much ado about nothing? 35th International Conference on Information Systems “Building a Better World Through Information Systems”, ICIS 2014.
Beccalli, E. (2007). Does IT investment improve bank performance? Evidence from Europe. Journal of Banking and Finance, 31(7), 2205–2230. https://doi.org/10.1016/j.jbankfin.2006.10.022
Bhapkar, R., Segev, I., Chris, S., & Townsed, Z. (2021). Disrupting the disruptors?: Business building for banks. April. https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/Disrupting the disruptors Business building for banks/Disrupting-the-disruptors-Business-building-for-banks.pdf?shouldIndex=false
Capgemini. (2021). World Retail Banking Report 2021 - Sustainable Experiential Banking (p. 44). https://www.capgemini.com/news/world-retail-banking-report-2021-to-create-new-value-banks-can-adopt-banking-as-a-service-to-embed-finance-in-consumer-lifestyles/
Carson, B., Chakravarty, A., Koh, K., & Thomas, R. (2021). Platform operating model for the AI bank of the future. Mckeinsey & Company, May, 1–11.
Chevron, J. (1996). The telecommuting innovation opportunity. Journal of Consumer Marketing, 13(4), 40–48. https://doi.org/10.1108/07363769610124537
Christie, I. (1999). E-cash is more interesting than you think: What are the key issues? In European Business Review (Vol. 99, Issue 4, pp. 207–210). https://doi.org/10.1108/09555349910281379
Diener, F. (2021). Digital transformation in banking: A managerial perspective on barriers to change. Sustainability (Switzerland), 13(4), 1–26. https://doi.org/10.3390/su13042032
Drasch, B J, Schweizer, A., & Urbach, N. (2018). Integrating the “Troublemakers”: A taxonomy for cooperation between banks and fintechs. Journal of Economics and Business. https://www.sciencedirect.com/science/article/pii/S0148619517301431
Drasch, Benedict J., Schweizer, A., & Urbach, N. (2018). Integrating the ‘Troublemakers’: A taxonomy for cooperation between banks and fintechs. Journal of Economics and Business, 100(2010), 26–42. https://doi.org/10.1016/j.jeconbus.2018.04.002
Giannakoudi, S. (1999). Internet banking: The digital voyage of banking and money in cyberspace. Information and Communications Technology Law, 8(3), 205–243. https://doi.org/10.1080/13600834.1999.9965811
Ibrahim, M. B., Abdul-Talib, A.-N., & Jedin, M. H. (2019). The Concept of Sustainability and Innovation in Banking. In European Proceedings of Social and Behavioural Sciences. Cognitive-Crcs. https://doi.org/10.15405/EPSBS.2019.08.18
Kandpal, V. (2019). Financial inclusion: The role of fintech and digital financial services in India. Indian Journal of Economics and Business, 18(1), 95–104. https://api.elsevier.com/content/abstract/scopus_id/85078895210
Kaufman, E., Bailey, A., Berz, K., Choo, S., Danoesastro, M., Duthoit, C., Greenberg, M., Regelman, R., & Roig, V. (2015). The Power of People in Digital Banking Transformation. BCG.Com. https://www.bcg.com/publications/2015/power-people-digital-banking-transformation-financial-institution
Kulakli, A., & Osmanaj, V. (2020). Global research on big data in relation with artificial intelligence (A bibliometric study: 2008-2019). International Journal of Online and Biomedical Engineering, 16(2), 31–46. https://doi.org/10.3991/ijoe.v16i02.12617
Lau, T., & Leimer, B. (2018). The era of connectedness: How Al will help deliver the future of banking. Journal of Digital Banking, 3(3), 215–231.
Lefebvre, P. J. (1999). “Digital money” – a view from the European Commission. In European Business Review (Vol. 99, Issue 4, pp. 242–256). MCB UP Ltd. https://doi.org/10.1108/09555349910281432
Lehrer, C., Wieneke, A., vom Brocke, J., Jung, R., & Seidel, S. (2018). How Big Data Analytics Enables Service Innovation: Materiality, Affordance, and the Individualization of Service. Journal of Management Information Systems, 35(2), 424–460. https://doi.org/10.1080/07421222.2018.1451953
lestari, diyan, & Rahmanto, B. T. (2021). Fintech and its challenge for banking sector. In The Management Journal of Binaniaga (Vol. 6, Issue 1, pp. 55–70). https://e-journal.stiebinaniaga.ac.id/index.php/management/article/view/428/pdf
Liberatore, M. (1997). Adoption and implementation of digital-imaging technology in the banking and insurance industries. IEEE Transactions on Engineering Management, 44(4), 367–377. https://doi.org/10.1109/17.649867
Muralidhara, S. (2021). Review of Blockchain Security and Privacy. In Proceedings - 5th International Conference on Computing Methodologies and Communication, ICCMC 2021 (pp. 526–533). https://doi.org/10.1109/ICCMC51019.2021.9418424
Nambisan, S. (2020). Digital innovation and international business. Innovation, 1–10. https://doi.org/10.1080/14479338.2020.1834861
Nazaritehrani, A., & Mashali, B. (2020). Development of E-banking channels and market share in developing countries. In Financial Innovation (Vol. 6, Issue 1). https://doi.org/10.1186/s40854-020-0171-z LK - https://doi.org/10.1186/s40854-020-0171-z
Niemand, T. (2021). Digitalization in the financial industry: A contingency approach of entrepreneurial orientation and strategic vision on digitalization. European Management Journal, 39(3), 317–326. https://doi.org/10.1016/j.emj.2020.04.008
Nylén, D., & Holmström, J. (2015). Digital innovation strategy: A framework for diagnosing and improving digital product and service innovation. In Business Horizons (Vol. 58, Issue 1, pp. 57–67). https://doi.org/10.1016/j.bushor.2014.09.001 LK - https://doi.org/10.1016/j.bushor.2014.09.001
Philosophy, L., & Suprapto, N. (2021). DigitalCommons @ University of Nebraska - Lincoln Research Trend on Ethnoscience through Bibliometric Analysis ( 2011-2020 ) and The Contribution of Indonesia.
PwC. (2020). Retail Banking 2020 Evolution or Revolution? Pwc, 109, 164. https://www.pwc.com/gx/en/banking-capital-markets/banking-2020/assets/pwc-retail-banking-2020-evolution-or-revolution.pdf
Rahman, A., & Dawood, A. K. (2019). Bitcoin and Future of Cryptocurrency. In Journal of business management (Vol. 18, Issue 1, pp. 61–66). Christ University Bangalore. https://doi.org/10.12725/UJBM.46.5
Soebandrija, K. E. N. (2020). Business Innovation, Service Innovation, Industry 4.0 and Making Indonesia 4.0: Perspective on Industrial Engineering. In KnE Life Sciences. Knowledge E. https://doi.org/10.18502/KLS.V5I3.6569
Sund, K. J. (2021). Managing business model exploration in incumbent firms: A case study of innovation labs in European banks. Journal of Business Research, 128, 11–19. https://doi.org/10.1016/j.jbusres.2021.01.059
Tanudjaja, I., & Kow, G. Y. (2018). Exploring Bibliometric Mapping in NUS using BibExcel and VOSviewer. IFLA WLIC Kuala Lumpur, 1–9. http://library.ifla.org/2190/1/163-tanudjaja-en.pdf
Thomas, C. G. (2021). Research Methodology and Scientific Writing. Springer International Publishing. https://doi.org/10.1007/978-3-030-64865-7
van Eck, N. J., & Waltman, L. (2020). VOSviewer Manual version 1.6.16. Univeristeit Leiden, November, 1–52. https://www.vosviewer.com/download/f-33t2.pdf
van Oorschot, J. A. W. H., Hofman, E., & Halman, J. I. M. (2018). A bibliometric review of the innovation adoption literature. Technological Forecasting and Social Change, 134(March 2017), 1–21. https://doi.org/10.1016/j.techfore.2018.04.032
Yang, L., Sun, T., & Liu, Y. (2017). A bibliometric investigation of flipped classroom research during 2000-2015. International Journal of Emerging Technologies in Learning, 12(6), 178–186. https://doi.org/10.3991/ijet.v12i06.7095
Yip, A. W. H., & Bocken, N. M. P. (2018). Sustainable business model archetypes for the banking industry. Journal of Cleaner Production, 174, 150–169. https://doi.org/10.1016/j.jclepro.2017.10.190
Zeller, B., & Dahdal, A. M. (2021). Open Banking and Open Data in Australia: Global Context, Innovation and Consumer Protection. In SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3766076 LK - https://doi.org/10.2139/ssrn.3766076
Downloads
Article Metrics
- 0 times
- 635 times
Published
Citation Check
How to Cite
Issue
Section
License
Copyright (c) 2021 Antonius Sony Eko Nugroho, Mohammad Hamsal
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Content Licensing, Copyright, and Permissions
1. License
Journal of Governance Risk Management Compliance and Sustainability (JGRCS) has CC-BY NC or an equivalent license as the optimal license for the publication, distribution, use, and reuse of scholarly work for non-commercial purpose. The non-commercial use of the article will be governed by the Creative Commons Attribution license as currently displayed on Creative Commons Attribution-NonCommercial 4.0 International License
Creative Commons License
2. Author’s Warranties
The author warrants that the article is original, written by stated author(s), has not been published before, contains no unlawful statements, does not infringe the rights of others, is subject to copyright that is vested exclusively in the author and free of any third party rights, and that any necessary written permissions to quote from other sources have been obtained by the author(s).
3. User Rights
Journal of Governance Risk Management Compliance and Sustainability (JGRCS) objective is to disseminate articles published are as free as possible. Under the Creative Commons license, this journal permits users to copy, distribute, display, and perform the work for non-commercial purposes only. Users will also need to attribute authors and this journal on distributing works in the journal.
4. Rights of Authors
Authors retain the following rights:
Copyright, and proprietary rights relating to the article, such as patent rights,
The right to use the substance of the article in future own works, including lectures and books, The right to reproduce the article for own purposes, The right to self-archive the article, the right to enter into separate, additional contractual arrangements for the non-exclusive distribution of the article's published version (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal (Journal of Governance Risk Management Compliance and Sustainability).
The author has a non-exclusive publishing contract with a publisher and the work is published with a more restrictive license, the author retains all the rights to publish the work elsewhere, including commercially, because she/he is not subject to the conditions of her / his own license, regardless of the type of CC license chosen.
5. Co-Authorship
If the article was jointly prepared by other authors, the signatory of this form warrants that he/she has been authorized by all co-authors to sign this agreement on their behalf, and agrees to inform his/her co-authors of the terms of this agreement.
6. Termination
This agreement can be terminated by the author or Journal of Governance Risk Management Compliance and Sustainability (JGRCS) upon two months’ notice where the other party has materially breached this agreement and failed to remedy such breach within a month of being given the terminating party’s notice requesting such breach to be remedied. No breach or violation of this agreement will cause this agreement or any license granted in it to terminate automatically or affect the definition of Journal of Governance Risk Management Compliance and Sustainability (JGRCS).
7. Royalties
This agreement entitles the author to no royalties or other fees. To such extent as legally permissible, the author waives his or her right to collect royalties relative to the article in respect of any use of the article by This agreement can be terminated by the author or Journal of Governance Risk Management Compliance and Sustainability (JGRCS) upon two months’ notice where the other party has materially breached this agreement and failed to remedy such breach within a month of being given the terminating party’s notice requesting such breach to be remedied. No breach or violation of this agreement will cause this agreement or any license granted in it to terminate automatically or affect the definition of Journal of Governance Risk Management Compliance and Sustainability (JGRCS) or its sublicensee.
8. Miscellaneous
Journal of Governance Risk Management Compliance and Sustainability (JGRCS) will publish the article (or have it published) in the journal if the article’s editorial process is successfully completed and Journal of Governance Risk Management Compliance and Sustainability or its sublicensee has become obligated to have the article published. Journal of Governance Risk Management Compliance and Sustainability may conform the article to a style of punctuation, spelling, capitalization, referencing and usage that it deems appropriate. The author acknowledges that the article may be published so that it will be publicly accessible and such access will be free of charge for the readers