Financial modeling is a representation of different aspects pertaining to finance or security of an enterprise or a firm. The representation provides information, calculations, and recommendations based on the outcome of modeling in order to guide enterprises on the alternatives or actions to perform. In the advent of computer technology financial modeling has evolved from simple formulary calculations to complex computer programs which can process large volumes of information. The goal of this research study was to analyse different types of financial modeling, the impact of computer technology in financial modeling, and the effectiveness of e-finance financial modeling to enterprises including security issues. The research contributed in understanding E-Finance financial modeling, identifying factors impeding its successful adoption, and recommended strategies as well as areas that need further research to successfully improve the adoption of such innovations. The research depended on peer reviewed papers in the field of financial modeling to provide available empiric evidence as well as explore the basis of different financial models to come up with valid and reliable data. The findings show that firms are rapidly adopting e-finance financial modeling because they find it to be effective although they have to spend a lot of funds in employing financial modeling experts, installing programs or softwares, and maintaining softwares against online risks. Computer technology has enabled large volumes of information to be analysed within a short time although the cost factor a challenge and softwares have to be protected against malwares. The research found that several financial models exist, but the choice of one depends on the needs of an enterprise. However, the field of e-finance financial modeling needs further research to update the available financial models to cope up with the current constantly changing financial dynamics of firms.
