Strategies to Choose Financial Technology for Households

Ana Mufidah (), Nely Supeni and Wildan Khsbullah
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Ana Mufidah: Universitas Jember, Department of Management, Faculty of Economics and Business
Nely Supeni: Sekolah Tinggi Ilmu Ekonomi (STIE) Mandala, Department of Management
Wildan Khsbullah: Universitas Jember, Department of Management, Faculty of Economics and Business

A chapter in Proceedings of the 3rd International Conference on Business and Engineering Management (IConBEM 2022), 2023, pp 64-77 from Springer

Abstract: Abstract Financial Technology, commonly known as FinTech is one kind of financial innovations services that are gaining popularity in the digital era. FinTech is an innovation in the financial service industry that utilizes the use of technology, which can facilitate the public to process financial transactions and provide convenience in accessing the financial services offered. FinTech has significantly impacted the economy, especially during the COVID-19 pandemic. For instance, the increasing number of borrowers who receive loans from FinTech. Loan distribution through FinTech is quite broad to reach people who have not been exposed by conventional banks. Unfortunately, the benefits offered by FinTech are also accompanied by the rapid emergence of problems experienced by the community that using FinTech services, especially FinTech funding, i.e. peer-to-peer landing. The problems were caused by a large number of illegal FinTech that appears in public, which is a FinTech that is not registered under the financial services authority (Otoritas Jasa Keuangan/OJK). Thus, the public needs to know what strategies must be taken in choosing the funding FinTech to be used, so that it does not cause losses in the future. This study uses a qualitative descriptive analysis research method. The data collection technique used in this study is the literature review, which includes textbooks, mass media articles, and online literature sources related to this study.

Keywords: FinTech; peer-to-peer lending; illegal FinTech (search for similar items in EconPapers)
Date: 2023
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DOI: 10.2991/978-94-6463-216-3_6

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