Intelligent automation in FinTech : an exploratory study of how Norwegian providers of financial technology utilize intelligent automation in light of PSD2
Year: 2019
Type: dissertation
Abstract: By performing a literature review and conducting semi-structured interviews with six\nbusiness leaders on robotic process automation and artificial intelligence in the Norwegian\nfinancial services industry, this thesis analyzes how providers of financial technology utilize\nintelligent automation in light of the revised Payment Service Directive (PSD2).\nAs the financial services industry experiences considerable upheaval based on digitalization\nand new regulations, incumbents and startups apply digital technologies to increase\ntheir competitiveness. Our findings indicate that by utilizing intelligent automation—the\ncombination of robotic process automation and artificial intelligence—FinTech firms could\nimprove all the components of their business model; value creation, value delivery, and\nvalue capture.\nWhile robotic process automation entails the use of bots to handle repetitive, high-volume,\nand rule-based tasks, artificial intelligence enhances the user’s ability to solve business\nproblems by simulating human cognition using various algorithms, e.g., machine learning,\nnatural language processing, and computer vision. Although robotic process automation\noften is deployed as a “patching tool” to deal with outdated legacy systems, our study\nreveals that it can yield extraordinary results. Rapidly altering how businesses operate,\nartificial intelligence is a cutting-edge technology applied in services like robo-advisors\nand virtual assistants. Our research shows that the combination of these technologies has\nthe potential to disrupt the financial services industry in ways not thought of yet.
Authors: Abusdal, Stian, Gjermundnes, Ricardo
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7038456670