Balanca : Jurnal Ekonomi dan Bisnis Islam
Vol 7 No 2 (2025): Balanca: Jurnal Ekonomi dan Bisnis Islam

The Role of Fintech in the Transformation of the Cashless Society of the Sharia Financial Sector with A Literature Review Approach

Wiyani, Sri (Unknown)
Muhammad Syahbudi (Unknown)
Aqwa Naser Daulay (Unknown)



Article Info

Publish Date
28 Aug 2025

Abstract

The development of financial technology (fintech) has driven a significant transformation in the Islamic finance sector, particularly toward a cashless society, where transactions are conducted without cash. This study aims to analyze the role of fintech in this transformation through a literature review and bibliometric analysis using data from 21 Scopus journals, 26 from Google Scholar, and 15 from Crossref. Of the 62 journals analyzed, approximately 70% indicate that fintech plays a significant role in increasing financial inclusion, operational efficiency, and the development of Sharia-compliant financial products. Innovations such as digital payments, peer-to-peer lending, and Sharia-compliant investments are key drivers of this transition. Analysis using Vosviewer also reveals the dominance of the keyword "fintech," which is closely correlated with Islamic banking, although specific studies related to a cashless society are still limited. However, challenges such as regulation, data security, and public literacy remain obstacles that need to be overcome. Overall, fintech is a key catalyst in the digitalization of inclusive and sustainable Islamic finance.

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Journal Info

Abbrev

balanca

Publisher

Subject

Economics, Econometrics & Finance

Description

Islamic Management, Islamic Banking, Islamic Marketing, Islamic Human Resources, Islamic Finance, Islamic Accounting, Islamic Microfinance, Zakah, Waqf, Philantrophy, Poverty Alleviation, Islamic Public Finance, Maqasid al-Shariah, ShariahIssues, Sukuk, Islamic Capital Markets, Insurance and ...