The Effectiveness of Fintech in SME Financial Management: A Systematic Literature Review

This study aims to systematically review the effectiveness of Financial Technology (Fintech) in the financial management of Small and Medium Enterprises (SMEs). SMEs are a vital sector in the Indonesian economy, but they often face challenges in financial management and access to formal financing. The development of Fintech has offered innovative solutions to overcome these barriers through services such as peer-to-peer lending, digital wallets, and financial management applications that can improve SMEs' access to capital and business efficiency. This study employs a systematic literature review methodology. Relevant literature was collected and analyzed using the Publish or Perish tool to extract bibliometric data and the VOS viewer for visualization and clustering analysis. The selected studies focus on the relationship between fintech services and financial performance indicators of SMEs, including financial literacy, financial inclusion, and financial management. The results demonstrate that fintech contributes to improving financial transparency and facilitates more accessible access to financing for SMEs. However, the success of fintech adoption heavily depends on the levels of digital literacy and user trust among SME operators. The findings highlight the importance of enhancing digital literacy and fostering user trust as critical enablers of fintech adoption. The study has significant implications for policymakers and practitioners. There is a need for educational programs to improve financial and digital literacy among SMEs to maximize fintech utilization.