The Role of Digital Finance and Financial Analytics in Improving Financial Performance: A Review Study

Abstract

                The rapid growth of digital technologies has changed the financial sector. This has led to the widespread use of digital finance in financial institutions and businesses. Digital finance systems, such as mobile banking, digital payments, fintech platforms, and cloud-based financial services, create large amounts of financial data. This data can help improve financial management. Meanwhile, financial analytics has become an important tool for turning digital financial data into useful insights. These insights support financial planning, forecasting, risk management, and decision-making. This study aims to review existing literature on digital finance and financial analytics to examine how they work together to improve financial decision-making. The research looks at published papers, books, and reports related to digital finance, fintech, and financial analytics. The findings indicate that while digital finance offers a strong technological basis and generates real-time data, financial analytics is crucial for turning this data into practical information for management and financial decisions. However, the literature also shows that there is limited research connecting digital finance and financial analytics from the perspective of financial decision-making. This study emphasizes the need for data-driven financial approaches and lays the groundwork for future research in this evolving area.