Challenges and Opportunities of the Financial Service Industry in the Wake of the Fourth Industrial Revolution: A Systematic Review

The rapid integration of fourth industrial technologies to meet the demands of the evolving financial landscape and customer needs is fundamentally transforming the financial services industry, creating both significant opportunities for innovation and substantial challenges. In light of this background, this study investigates challenges and opportunities realized by financial sector companies in the wake of the fourth industrial revolution. To achieve the objectives, a systematic literature review was conducted, with PRISMA used for document screening. The study examined 51 research articles published between 2015 and 2025 inclusive. NVivo 12 was used to identify and present key themes from the analyzed documents. A literature survey conducted revealed eight challenges brought out by digital transformation in the context of the fourth industrial revolution. Literature also revealed 12 opportunities that came as a result of the integration of fourth industrial revolution technologies into the financial sector. In light of these findings, it is prudent for the financial service industry to collaborate with training institutions and facilitate the introduction of new curricula that take note of changes in technology. In addition, firms in the financial sector need to invest in acquiring digital infrastructure as a strategy for surviving the competition brought out by the fourth industrial revolution.