This paper presents a systematic literature review on optimizing feature extraction for palm and wrist multimodal biometrics. Identifying informative features across different modalities can be computationally expensive and time-consuming in such complex systems. Optimization techniques can streamline this process, making it more efficient thereby improving accuracy and reliability. The paper frames four research questions on input traits, approaches for feature extraction, classification approaches, and performance metrics of image data. The search query is generated based on the research questions that help retrieve the information on the above parameters. The focus of this paper is to provide the comprehensive and exhaustive gestalt of the appropriate input traits for image data from the information retrieved as well as optimal feature extraction and selection. However, the paper also intends to highlight the various classification approaches taken as well as the performance indicators against those classifiers. Further, the paper aims to analyze the effectiveness of various filtering techniques in eliminating image noise and improving overall system performance using MATLAB 2018. The paper concludes that a combination of palm and wrist biometrics could be a good input-trait combination. This work is novel as it covers multi-faceted processing, addressing various aspects of optimizing feature extraction and selection for palm and wrist multimodal biometrics.