The digital transformation for innovative business models in the financial industry: the perspective of engaging strategic stakeholders

Purpose To analyze the role of technologies in digital transformation (DT) and innovative business models (IBMs) in the financial industry (FI) from the perspective of strategic stakeholders. Design/methodology/approach A systematic literature review (SLR) was conducted with articles written between 2008 and 2023, utilizing Scopus, Web of Science, ScienceDirect and Wiley databases. Findings The adoption of innovative technologies, digital platforms and automation was identified as the key outcome. The connection between stakeholder involvement and technologies in DT is emphasized. A theoretical framework integrating DT into organizational objectives is proposed. Research limitations/implications The study presents limitations in the selection of databases and suggests a deeper exploration of stakeholder involvement. Originality/value This systematization resulted in the framework presented in figure 6, comprising strategic elements that can be used as a managerial tool by managers seeking to internalize the principles of DT.