University of Twente Student Theses


Contemporary Advancements in Financial Technology and Adoption

Ruhanen, Samuel (2023) Contemporary Advancements in Financial Technology and Adoption.

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Abstract:Opportunity. Emerging technologies, such as artificial intelligence (AI), the internet of things (IoT), machine learning, and big data, had transformed the way we lived and worked. These technologies had enabled organizations to enhance their efficiency, reduce costs, and possibly gain a competitive advantage. Despite the many benefits of these emerging technologies, many businesses were still struggling to leverage them to achieve their targets. As a result, there was a growing need for research on how these technologies could impact business functions and processes. Requirements. The aim of this research was to highlight the technologies available for financial applications, and their ability to support core financial processes, and financial implementation. Prototype. A qualitative survey was conducted with selected stakeholders to assess the data gathered from the systematic literature review. The main goal of this research was to construct a comprehensive paper that might assist firms in comprehending the types of technologies that were currently available in the field of finance and how they supported these core activities. This resulted in assessing various company states of technology, these key stakeholders could identify the present contemporary technologies, implementation, and impact, leading to judgments on how to optimize their use, by reviewing the status of their businesses and their operations. A literature review was instrumental in identifying the key trends and developments in these technologies, providing a foundation for the research development. The data was then tested through qualitative research. Evaluate. The study helped organizations recognize the benefits/drawbacks of these technologies, recognize the barriers to their implementation, and the strategies for their successful adoption.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
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