Abstract
The concept of digital transformation has gained significant attention since the onset of the Fourth Industrial Revolution. This study aimed to explore the factors that encourage and hinder the adoption of digital transformation in financial institutions in Eswatini. This study utilised a qualitative research approach, employing semi-structured interviews to gather data from expert participants in the Eswatini financial sector. The study employed the constructs of the unified theory of acceptance and use of technology (UTAUT) model to identify the influencing factors. The findings indicated that the financial institutions in Eswatini recognise the importance of digital transformation; the primary motivators include perceived usefulness, such as increased productivity, saved time, increased convenience and cost reductions align the performance expectancy even though they encounter several challenges, especially concerning effort expectancy, social influence, and facilitating conditions. The findings highlighted effective strategies that can be used to enhance the adoption of digital transformation. The study, like any other, had its limitations; specifically, it did not incorporate the UTUAT moderators, and the sample size was relatively small. Future investigators should consider utilising the UTAUT moderators to enhance the insights.