Adoption of 4th Industrial Revolution digital technologies within large treasury departments.

Abstract: This study focuses on the impact of the Fourth Industrial Revolution on the traditional banking industry, specifically in the context of treasury departments. The emergence of new technologies offers significant potential to enhance and automate daily operations, leading to more efficient treasury functions. The objective of this research is to gain a comprehensive understanding of the implementation challenges and opportunities and their effects on treasury operations. Employing a qualitative and interpretivist approach, the study delves into the intricacies of the adoption process, considering various organizational factors. Key findings emphasize the importance of a coordinated effort led by senior executives and involving multiple departments for the successful adoption of Fourth Industrial Revolution technologies. Creating an innovation-driven culture and fostering a willingness to embrace change are vital for effective technology integration. Furthermore, tailoring the digital transformation approach to the specific circumstances and strategic priorities of each organization is essential for treasury departments for staying updated with emerging technologies and optimizing the treasury function. This research offers valuable insights into best practices and strategies for successful technology adoption, serving as a valuable resource for decision-makers. It enables treasury departments to enhance operational efficiencies, make informed strategic decisions, and reduce costs. The study also emphasizes the importance of fostering an innovation culture and continuously improving practices to effectively adapt to emerging technologies. By doing so, treasury operations can ensure long-term resilience in the dynamic banking industry