Digital Twin Technology for Financial Industry

Abstract

The focus of this thesis is the potential use cases of digital twins in the financial sector. This study explores these use cases, their benefits, and the challenges of the adoption to identify the value and impact this technology can bring to the financial services industry. As a result of interviews and thematic analysis, six potential use cases of digital twins were identified as well as four benefits and 6 challenges of digital twin incorporation. The main contribution of this research is a framework that can help practitioners and researchers understand how digital twins can be utilized in the financial sector.