Driving Sustainability Forward: Do Fintech and Digital Transformation Matter?

This study explores the potential value of fintech and digital transformation to drive sustainability forward using a literature review method. It reveals fintech and digital transformation contribute to financial innovations, green financing, sustainable investments, smart contracts for sustainable agreements, reduction of carbon footprint, consumers’ values and behavior, and digitalization for operational efficiency. However, integrating fintech and digital transformation into business introduces several obstacles, including cybersecurity risks, data privacy compliance, regulatory and legal frameworks, costly adaptation, the need for reskilling the workforce, and concerns related to algorithmic bias. Fintech and digital transformation are a new era as a subject of knowledge, with many characteristics that require further investigation. The current study provides a foundation for future research into this significant topic. It is suggested that future research can undertake an empirical study to comprehend a better understanding of fintech and digital transformation impact. Future studies can also improve knowledge by investigating the relationship between fintech and digital transformation and accounting, finance, and management fields.