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An Overview of Financial Technology in Indonesia

An Overview of Financial Technology in Indonesia
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Author(s): Muhammad Anshari (Universiti Brunei Darussalam, Brunei), Mohammad Nabil Almunawar (Universiti Brunei Darussalam, Brunei) and Masairol Masri (Universiti Brunei Darussalam, Brunei)
Copyright: 2020
Pages: 9
Source title: Financial Technology and Disruptive Innovation in ASEAN
Source Author(s)/Editor(s): Muhammad Anshari (Universiti Brunei Darussalam, Brunei), Mohammad Nabil Almunawar (Universiti Brunei Darussalam, Brunei) and Masairol Masri (Universiti Brunei Darussalam, Brunei)
DOI: 10.4018/978-1-5225-9183-2.ch012

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Abstract

Financial technology (FinTech) has been developing at a tremendous rate all around the globe. This chapter will show how banking and financial system has evolved by financial technology which affected the way of how society is living now. There is a rapid change of FinTech for the past few years in Indonesia. These changes have made an impact to the people in Indonesia. As for the exploration to the rise of FinTech in Indonesia, it is important to understand the development and challenges of FinTech in Indonesia by looking changing Indonesian people's behavior in terms of FinTech's adoption include payment channel system, digital banking, peer-to-peer (P2P) lending, and crowdfunding.

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