Habits and adoption of financial solutions : Managing risks and leveraging opportunities in financial institutions through the TCCM framework
Abstract
Academic interest in understanding the role of financial technology (FinTech) in financial institutions has grown significantly in recent years. FinTech is defined as the use of innovative digital tools and platforms — such as mobile applications, blockchain, artificial intelligence (AI), cloud computing and application programming interfaces — to improve, automate and transform the delivery of financial services and risk management processes. Many studies have explored FinTech adoption, yet few have examined its integration with risk management and regulatory compliance. Therefore, this study sheds light on the literature trends associated with FinTech adoption and operational risk management using a systematic literature review (SLR) and the Theory, Context, Characteristics and Methods (TCCM) framework. The analysis reviews the habits and patterns of FinTech adoption across financial institutions, emphasising the regulatory landscape and cyber security challenges. With the SLR approach, 44 articles published from 2002 to 2023 were analysed. The findings indicate a strong nexus between FinTech adoption, operational efficiency and regulatory compliance, showing an increasing interest among scholars and practitioners. A comprehensive review of dominant theories (eg technology acceptance model and diffusion of innovations), specific contexts (eg banking and financial service providers), characteristics (eg independent, dependent, moderating and mediating variables) and methods (eg research approaches and analytical tools) is provided. This review is the first to critically assess the underexplored intersection between FinTech adoption and regulatory compliance. The findings may help policy makers, banking service providers and academics understand the necessity of balancing FinTech innovation with risk management. The future research agenda outlined in this study will facilitate researchers in exploring new insights within the domain of FinTech adoption and risk mitigation. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
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Author's Biography
Rinu Jayaprakash is a Research Scholar pursuing a PhD in FinTech and financial inclusion at the School of Management and Business Studies, Mahatma Gandhi University, and an Assistant Professor at CET School of Management, Kerala, India. She has over 13 years’ teaching and research experience, complemented by two years of industry experience. Her research interests encompass FinTech, financial inclusion, financial services, corporate finance and digitisation. She is passionate about academic research, publishing and student success, integrating a strong research focus with a commitment to teaching excellence.
Roshna Varghese Dr Roshna Varghese is an Assistant Professor at the School of Management and Business Studies, Mahatma Gandhi University, Kerala. She has over 20 years’ teaching and research experience. Her areas of research include corporate disclosure, corporate finance, behavioural finance and corporate strategy. Her expertise spans assurance of learning and national and international accreditation processes for business schools.
Citation
Jayaprakash, Rinu and Varghese, Roshna (2025, December 1). Habits and adoption of financial solutions : Managing risks and leveraging opportunities in financial institutions through the TCCM framework. In the Journal of Risk Management in Financial Institutions, Volume 19, Issue 1. https://doi.org/10.69554/XPQG6989.
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