Navigating Obstacles Encountered by Fintech Startups: An in-Depth Systematic Literature Review

Abstract

The primary objective of this systematic literature review (SLR) was to summarize and synthesize current research on the challenges faced by fintech startups, a field that has recently gained prominence in the financial and economic worlds. To highlight current challenges, direct future research directions, and increase theoretical understanding, this SLR aims to track the development and topics of study, propose a specific categorization, and identify significant problems. The current research employed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) framework to conduct the review. Two primary journal databases, Scopus and Web of Science, were utilized. Consequently, the search efforts yielded 36 articles that would be systematically analyzed. Notably, the review identified nine themes based on thematic analysis: Regulation, Risk, Financial constraint, Innovative growth, Data security, Competition, Technology control, Human capital, and Customer management. Overall, further examination of the nine themes led to the identification of eleven subthemes. In the discussion of this research, several recommendations for future researchers are provided.