Digital Financial Knowledge: A Bibliometric and Conceptual Review

Abstract

Purpose:
Digital financial services have expanded rapidly, increasing scholarly interest in Digital Financial Literacy (DFL) as a key determinant of financial inclusion, behavioral outcomes, and participation in digital economies. Despite the growing body of literature, limited attention has been given to Digital Financial Knowledge (DFK) as a distinct conceptual component within the broader DFL framework. This study aims to examine the intellectual structure and thematic evolution of DFL research and to develop a clearer conceptual understanding of DFK through an integrated bibliometric and conceptual review.
Design/Methodology/Approach:
The study adopts a hybrid review methodology combining bibliometric analysis and qualitative conceptual synthesis. Bibliometric data were retrieved from the Web of Science Core Collection, resulting in a final dataset of 42 publications, and analyzed using the Bibliometrix package through the Biblioshiny interface in R. To complement the bibliometric findings, accessible full-text articles were retrieved through Emerald Insight and Google Scholar, and systematically reviewed using a structured conceptual coding framework to identify the key dimensions of Digital Financial Knowledge.
Findings:
The bibliometric analysis reveals significant growth and increasing interdisciplinary engagement in DFL research. Major research themes include financial inclusion, technology adoption, and financial behavioural outcomes. Although DFK does not appear as a standalone construct within the dominant literature, it is implicitly embedded within broader discussions of financial literacy. The conceptual synthesis identifies financial literacy, digital awareness, and risk awareness as core knowledge dimensions, while also highlighting inconsistencies in their definitions and measurement. Based on these findings, a more coherent conceptual framework of DFL is proposed, positioning DFK as a foundational component of digital financial literacy.
Research Limitations:
The bibliometric analysis was limited to publications indexed in the Web of Science Core Collection, while the conceptual synthesis was based on accessible full-text studies. Future research should validate the proposed framework across different databases, contexts, and populations and develop standardized measures of Digital Financial Knowledge.
Practical Implications:
By clarifying the conceptual foundations of Digital Financial Knowledge, the proposed framework offers valuable guidance for researchers, educators, policymakers, and financial institutions in designing digital financial education programs, developing robust measurement instruments, and promoting safe and effective participation in increasingly digital financial ecosystems.