FinTech and SME supply chain efficiency: A scoping review
DOI:
https://doi.org/10.24191/jeeir.v14i1.9548Keywords:
Financial Technology, FinTech, Supply Chain, Efficiency, SMEAbstract
This scoping review examines how financial technology (FinTech) transforms supply chain operations for Small and Medium Enterprises (SMEs). Analyzing 22 peer reviewed articles, the study identifies key FinTech innovations such as blockchain, peer to peer lending, and digital payment systems and their impact. The analysis reveals seven primary themes where FinTech optimizes SMEs supply chains (1) enhanced risk management via real-time monitoring (2) data driven decision making (3) improved financial accessibility through alternative lending (4) predictive analytics for demand forecasting (5) sustainable supply chain financing (6) increased operational efficiency from automation and (7) strengthened customer relationships on digital platforms. Geographically, research is concentrated in developing economies, with a significant focus on China, highlighting FinTech's strategic role in addressing SMEs challenges in emerging markets. The findings demonstrate FinTech's substantial potential to facilitate faster transactions, improve working capital, and foster financial inclusion. However, barriers like cybersecurity risks, regulatory complexities, and limited digital literacy persist. The review concludes that future research should investigate the long term impacts of FinTech adoption, while policymakers must develop supportive regulatory frameworks. Strategic collaboration between financial institutions and SMEs is crucial to fully realize FinTech transformative potential in building resilient and efficient digital supply chains.
References
Al-zaqeba, M., Ineizeh, N., Jarah, B., Hamour, H., & Almatarneh, Z. (2022). Intelligent matching: Supply chain management and financial accounting technology. Uncertain Supply Chain Management, 10(4), 1405-1412. https://doi.org/10.5267/j.uscm.2022.6.016
Arner, D., Buckley, R., Zetzsche, D., & Veidt, R. (2019). Sustainability, FinTech and Financial Inclusion. European Business Organization Law Review, 21(1), 7 - 35. https://doi.org/10.1007/s40804-020-00183-y
Branzoli, N., & Supino, I. (2020). FinTech Credit: A Critical Review of Empirical Research Literature. Social Science Research Network, 8(3), 234-237 https://doi.org/10.2139/SSRN.3612726
Buchter, R. B., Weise, A., & Pieper, D. (2020). Development, testing and use of data extraction forms in systematic reviews: a review of methodological guidance. BMC Medical Research Methodology, 20(1), 259. https://doi.org/10.1186/s12874-020-01143-3
Chen, X., Xu, P., & Yang, G. (2019). Incentive Contract between Banks and B2B Platform in Online Agricultural Product Supply Chain Finance. Business and Management Research, 8(2), 20. https://doi.org/10.5430/bmr.v8n2p20
Chen, Z., & Jiang, Z. (2024). The Liquidity Premium of Digital Payment Vehicle. Management Science, 25(2). https://doi.org/10.1287/mnsc.2023.01309
Elsayed, G. M. (2024). The Role of Fintech in Supporting Small and Medium Enterprises (SMEs). International Journal of Science and Research 13(11), 1768–1776. https://doi.org/10.21275/sr241129022204
Eriksen, M. B., & Frandsen, T. F. (2018). The impact of patient, intervention, comparison, outcome (PICO) as a search strategy tool on literature search quality: a systematic review. Journal of the Medical Library Association : JMLA, 106(4), 420–431. https://doi.org/10.5195/jmla.2018.345
Girase, A. (2024). Credit Risk Modelling for Small and Medium Enterprises (SMEs) Using Machine Learning. International Journal For Science Technology And Engineering, 12(11), 522–523. https://doi.org/10.22214/ijraset.2024.65040
Hong, Y., & Qin, C. (2025). Game Analysis of the Behavior of Participants in Green Supply Chain Finance Based on Digital Technology Platforms. Computational Economics, 65(6), 3475-3502. https://doi.org/10.1007/s10614-024-10667-5
Huang, K.-P., Lo, S.-t., & Sutthiphisal, D. (2023). From Data Transparency and Security to Interfirm Collaboration-A Blockchain Technology Perspective. ABAC Journal, 43(3).
Jaiwant, S. V., & Kureethara, J. V. (2023). Green Finance and Fintech: Toward a More Sustainable Financial System. Green Finance Instruments, FinTech, and Investment Strategies: Sustainable Portfolio Management in the Post-COVID Era (pp. 283–300). Springer International Publishing. https://doi.org/10.1007/978-3-031-29031-2_12
Jamaludin, M. (2021). The influence of supply chain management on competitive advantage and company performance. Uncertain Supply Chain Management, 9(3), 696–704. https://doi.org/10.5267/j.uscm.2021.4.009
Kao, Y.-C., Shen, K.-Y., Lee, S.-T., & Shieh, J. C. P. (2022). Selecting the Fintech Strategy for Supply Chain Finance: A Hybrid Decision Approach for Banks. Mathematics, 10(14), 2393. https://doi.org/10.3390/math10142393
Khan, Y., Su’ud, M. B. M., Alam, M. M., Ahmad, S. F., Ahmad, A. Y. A. B., & Khan, N. (2023). Application of Internet of Things (IoT) in Sustainable Supply Chain Management. Sustainability, 15(1), 694. https://doi.org/10.3390/su15010694
Kharaishvili, E., & Atanelishvili, T. (2022). Sustainable State Procurements and Business in Georgia. Bulletin Of The Georgian National Academy Of Sciences,16(3),42-44. https://doi.org/10.51767/jm1506
Kouvelis, P., Dong, L., & Turcic, D. (2020). Advances in Supply Chain Finance and FinTech Innovations Overview. Foundations and Trends in Technology, Information and Operations Management, 14(1-2), 1–4. https://doi.org/10.1561/0200000096
Lara, M. I. D., & Huachez, M. J. P. (2024). Logistics optimization and inventory control in Peruvian grocery companies. Sapienza, 5(3), e24061-e24061. https://doi.org/10.51798/sijis.v5i3.788
Li, M., Shao, S., Ye, Q., Xu, G., & Huang, G. Q. (2020). Blockchain-enabled logistics finance execution platform for capital-constrained E-commerce retail. Robotics and Computer-Integrated Manufacturing, 65, 101962. https://doi.org/10.1016/J.RCIM.2020.101962
Li, Q., & Li, Y. (2021). User logistics profiling for terminal distribution based on adaptive large adjacent search. Journal of Intelligent and Fuzzy Systems, 41(4), 4759–4771. https://doi.org/10.3233/JIFS-189962
Li, Y., Stasinakis, C., & Yeo, W. M. (2022). A Hybrid XGBoost-MLP Model for Credit Risk Assessment on Digital Supply Chain Finance. Forecasting, 4(1), 184–207. https://doi.org/10.3390/forecast4010011
Li, W., Cai, J., Zhu, Y., Li, J., & Li, Z. (2024). Can digital finance development drive green transformation in manufacturing? Evidence from China. Environmental Science and Pollution Research, 31(16), 23876-23895. https://doi.org/10.1007/s11356-024-32402-1
Liu, F., Wang, Q., Zhang, Z., Fang, M., & Xiao, S. (Simon). (2023). Lean inventory, fintech and financing: interactive influences on Chinese SMEs. Management Decision, 61(8), 2302–2321. https://doi.org/10.1108/MD-06-2022-0878
Liu, J., Liu, S., Li, J., & Li, J. (2022). Financial credit risk assessment of online supply chain in construction industry with a hybrid model chain. International Journal of Intelligent Systems, 37(11), 8790–8813. https://doi.org/10.1002/int.22968
Madhani, P. M. (2020). Customer-focused supply chain strategy: developing 4Rs framework for enhancing competitive advantages. International Journal of Services and Operations Management, 36(4), 505–530. https://doi.org/10.1504/IJSOM.2020.10031210
Mhlanga, D. (2023). Block chain technology for digital financial inclusion in the industry 4.0, towards sustainable development? Frontiers in Blockchain, 6, 1035405. https://doi.org/10.3389/fbloc.2023.1035405
Mustafi, M. A. A., Dong, Y. J., Hosain, M. S., Amin, M. bin, Rahaman, M. A., & Abdullah, M. (2024). Green Supply Chain Management Practices and Organizational Performance: A Mediated Moderation Model with Second-Order Constructs. Sustainability, 16(16), 6843. https://doi.org/10.3390/su16166843
Mwemezi, J., Senadjki, A., & Sea, L. L. (2022). Augmenting Bank Credit Flow to Agro-Processing SMEs through Financial Technology (FinTech): Evidence from Tanzania. Wseas Transactions On Business And Economics, 19, 1914–1928. https://doi.org/10.37394/23207.2022.19.172
Naeem, Muhammad, Ozuem, Wilson, Howell, Kerry, & Ranfagni, Silvia. (2023). A Step-by-Step Process of Thematic Analysis to Develop a Conceptual Model in Qualitative Research. International Journal of Qualitative Methods, 22, 16094069231205788. https://doi.org/10.1177/16094069231205789
Nahar, J., Rahaman, M. A., Alauddin, M., & Rozony, F. Z. (2024). Big data in credit risk management: a systematic review of transformative practices and future directions. International Journal of Management Information Systems and Data Science, 1(04), 68-79. https://doi.org/10.62304/ijmisds.v1i04.203
Onaseso, O. O. (2021). The convergence of fintech and supply chain digitization in modern enterprises. World Journal Of Advanced Research and Reviews, 10(2), 246–255. https://doi.org/10.30574/wjarr.2021.10.2.0184
Park, A., & Li, H. (2021). The effect of blockchain technology on supply chain sustainability performances. Sustainability, 13(4), 1–18. https://doi.org/10.3390/su13041726
Purwaningsih, E., Muslikh, Suhaeri, & Basrowi. (2024). Utilizing blockchain technology in enhancing supply chain efficiency and export performance, and its implications on the financial performance of SMEs. Uncertain Supply Chain Management, 12(1), 449–460. https://doi.org/10.5267/j.uscm.2023.9.007
Pylaeva, I. S., Podshivalova, M. v., Alola, A. A., Podshivalov, D. v., & Demin, A. A. (2022). A new approach to identifying high-tech manufacturing SMEs with sustainable technological development: Empirical evidence. Journal of Cleaner Production, 363,132322. https://doi.org/10.1016/j.jclepro.2022.132322
Qin, J. (2023). Research on Supply Chain Finance Risk Management Based on Blockchain Technology. In 2023 International Conference on Integrated Intelligence and Communication Systems (ICIICS) (pp. 1-6). IEEE. https://doi.org/10.1109/iciics59993.2023.10421010
Rao, Q., & Li, W. (2022). Risk Evaluation and Forecast Behavior Analysis of Supply Chain Financing Based on Blockchain. Wireless Communications and Mobile Computing, 2022(1), 7668474. https://doi.org/10.1155/2022/7668474
Rodríguez-Espíndola, O., Cuevas-Romo, A., Chowdhury, S., Díaz-Acevedo, N., Albores, P., Despoudi, S., Malesios, C., & Dey, P. (2022). The role of circular economy principles and sustainable-oriented innovation to enhance social, economic and environmental performance: Evidence from Mexican SMEs. International Journal of Production Economics, 248, 108495. https://doi.org/10.1016/j.ijpe.2022.108495
Sah, B. P., & Shaikh, S. (2024). AI-Driven IoT And Blockchain Integration In Industry 5.0: A Systematic Review Of Supply Chain Transformation. Innovatech Engineering Journal, 1(01), 99–116. https://doi.org/10.70937/itej.v1i01.12
Shen, Y., Fu, Y., & Song, M. (2024). Digital finance promotes sustainable total factor eco-efficiency: evidence from China. Applied Economics, 56(36), 4389-4403. https://doi.org/10.1080/00036846.2023.2211337
Shi, X., & Zhang, W. (2023). Research on Supplier Selection, Evaluation, and Relationship Management. Open Journal of Business and Management, 11(03), 1208–1215. https://doi.org/10.4236/ojbm.2023.113067
Su, L., Cao, Y., Li, H., & Tan, J. R. (2022). Blockchain-Driven Optimal Strategies for Supply Chain Finance Based on a Tripartite Game Model. Journal of Theoretical and Applied Electronic Commerce Research, 17(4), 1320–1335. https://doi.org/10.3390/jtaer17040067
Tang, W. (2024). Improvement of Inventory Management and Demand Forecasting by Big Data Analytics in Supply Chain. Applied Mathematics and Nonlinear Sciences, 9(1), 1-15. https://doi.org/10.2478/amns-2024-2213
Tricco, A. C., Lillie, E., Zarin, W., O'Brien, K. K., Colquhoun, H., Levac, D., Moher, D., Peters, M. D. J., Horsley, T., Weeks, L., Hempel, S., Akl, E. A., Chang, C., McGowan, J., Stewart, L., Hartling, L., Aldcroft, A., Wilson, M. G., Garritty, C., Lewin, S., … Straus, S. E. (2018). PRISMA Extension for Scoping Reviews (PRISMA-ScR): Checklist and Explanation. Annals of internal medicine, 169(7), 467–473. https://doi.org/10.7326/M18-0850
Tsapa, J. A. (2024). Predictive Analytics for Proactive Risk Management in FinTech Lending and Investment. Journal of Artificial Intelligence & Cloud Computing, 3(5), 2-4. https://doi.org/10.47363/JAICC/2024
Ullah, I., & Havinga, P. J. (2023). Governance of a Blockchain-Enabled IoT Ecosystem: A Variable Geometry Approach. Sensors, 23(22), 9031. https://doi.org/10.3390/s23229031.
Wang, Z., Zheng, Z. (Eric), Jiang, W., & Tang, S. (2021). Blockchain-Enabled Data Sharing in Supply Chains: Model, Operationalization, and Tutorial. Production and Operations Management, 30(7), 1965–1985. https://doi.org/10.1111/POMS.13356
Wu, C., Liu, J., & Zhang, H. (2021). Data Ecology and Accurate Portrait: Optimization of Credit Risk System for SMEs in Supply Chain Finance Based on Big Data Technology. Journal of Risk Analysis and Crisis Response, 11(4), 163–175. https://doi.org/10.54560/jracr.v11i4.310
Xiaoxu Chen, Peng Xu & Guoqiang Yang, 2019. Incentive Contract between Banks and B2B Platform in Online Agricultural Product Supply Chain Finance,Business and Management Research. Business and Management Research, 8(2), 20-26. https://doi.org/10.5430/bmr.v8n2p20
Xie, W. (2022). Study on Enterprise Financial Risk Prevention and Early Warning System Based on Blockchain Technology. Mobile Information Systems, 2022(1), 4435296. https://doi.org/10.1155/2022/4435296
Yu, Y., Huang, G., & Guo, X. (2021). Financing strategy analysis for a multi-sided platform with blockchain technology. International Journal of Production Research, 59(15), 4513–4532. https://doi.org/10.1080/00207543.2020.1766718
Zhan, J., Zhang, G., Chong, H. Y., & Chen, X. (2024). Blockchain and Supply-Chain Financing: An Evolutionary Game Approach with Guarantee Considerations. Journal of Theoretical and Applied Electronic Commerce Research , 19(2), 1616–1636. https://doi.org/10.3390/jtaer19020079
Zheng, C., Huang, X., & Xu, Y. (2023). The Impact of Blockchain on Enterprises Sharing Real Data Based on Dynamic Evolutionary Game Analysis. Sustainability, 15(12), 9439. https://doi.org/10.3390/su15129439
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Muhammd Hamdi Che Hassan, Lokhman Hakim Osman
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
