Financial Technology (FINTECH) in Indonesia

Abstract

This book explains the progress and development of financial technology (Fintech) in Indonesia which consists of the past and present development of Fintech, its industry and market, its policy and regulation, its outlook and case studies. These will tells the academician, policy makers and practitioners that Fintech is a potential and growing industry which gives opportunities for the starts up and new ventures. Indonesia as a country with its supporting infrastructures and facilities offers investors and businessmen to engage their Fintech operations especially when the policies and regulations were created to support these businesses. The future Fintech is demanding in creating new model of business which brings sophistication and efficiency. Fintech started with the development of information technology that offers a faster and cheaper distribution of financial services through various medium such as the internet, smartphones or big data analytics, which then become a challenge to the conventional financial institutions. This alternative service is demanded and emerged especially post-global financial crisis back few years ago. Many people realized that the Fintech provide better services, thus some neglected the current form of banks‟ services. With this Fintech, the landscape of financial services is shifted and then connected and linked to other services that probably enlarge its market share in the future. The positive progresses of Fintech supported by the changing environment itself where every companies or consumers are rely on the information, communication and technology (ICT).