Customer Due Diligence in the FinTech Era: A Bibliometric Analysis

Abstract

This study examined the current developments in customer due diligence (CDD) in the financial technology (FinTech) era. The study of anti-money laundering (AML) and combating financing of terrorism (CFT) gained prominence after the 2007–2009 global financial crisis (GFC), in which administrative penalties were issued to financial institutions. Faced with AML regulatory compliance issues, technological solutions were or are still being developed. Thus, several technological innovation developments have shaped the future direction of the CDD aspects in the AML/CFT sphere. A bibliometric review and meta-analysis was employed for the study. The Scopus database was utilised to generate the dataset for the study, while SciVal was applied for research metric analysis. The major findings revealed that the key research themes in this area include anti-money laundering, banks and crime, and cryptocurrency, as well as blockchain and corruption. It was also established that most of the research done in this area is focused on the United Kingdom, the United States, and China. The integration of CDD with FinTech is still an emerging area that requires interdisciplinary collaborations.

Keywords

• money laundering
• customer due diligence
• anti-money laundering
• FinTech
• bibliometric analysis