Trust in FinTech: A Systematic Literature Review of Key Determinants and Policy Lessons for Digital Finance in Vietnam

Abstract

Trust has become a foundational construct in the FinTech ecosystem, where digitalization, data-intensive infrastructures, and algorithmic decision-making elevate users’ vulnerability to security, privacy, and systemic risks. This study conducts a systematic literature review of empirical studies published between 2010 and 2025 to clarify how trust is conceptualized in FinTech, identify its key determinants, and examine its role in shaping adoption and continuance behaviors. The review demonstrates that trust in FinTech differs fundamentally from trust in traditional financial services, shifting toward technology and system-based forms of trust embedded in digital architectures. By synthesizing cross-country evidence, the study provides an integrated understanding of how technological, institutional, and socio-psychological factors jointly shape trust formation. Drawing on these insights, the paper proposes policy implications for Vietnam’s rapidly developing yet institutionally constrained FinTech landscape, emphasizing the need to strengthen regulatory safeguards, enhance data governance, and promote user-centric digital finance practices. The review also outlines future research directions to deepen the understanding of trust dynamics in emerging digital financial environments.