An Integrated Model of AI and Blockchain Adoption for Sustainable Digital Transformation in Financial Services

Sustainable digital transformation in financial services increasingly depends on the effective adoption and integration of artificial intelligence (AI) and blockchain. However, existing research has largely examined these technologies separately, providing limited insight into the organisational and institutional factors shaping their joint adoption. This study develops and empirically tests a multi-theoretical model integrating the Technology–Organisation–Environment (TOE) framework, Resource-Based View (RBV), and Institutional Theory. Using survey data from 212 senior managers and decision-makers in banking, insurance, and fintech organisations, the study employs structural equation modelling (SEM) to examine the determinants of AI and blockchain adoption. The results show that digital capabilities, technological compatibility, and strategic alignment are significant positive drivers of adoption, while coercive regulatory pressure also has a significant effect. In contrast, perceived complexity and normative pressures are not significant predictors. The findings indicate that internal capabilities and strategic fit play a more important role in adoption than perceived technological difficulty or broader institutional imitation. The study contributes an empirically validated multi-theoretical perspective on sustainable digital transformation and provides practical guidance for financial institutions seeking to strengthen technology adoption and innovation.