Financial Technology as an Innovation Strategy for Digital Payment Services in the Millenial Generation

Tan, Jacob Donald; Purba, John Tampil; Widjaya, Andree E.

doi:10.2991/agc-18.2019.58

Cited by 26 publications

(23 citation statements)

References 9 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…They concluded that Fintech is important to meet customer expectations. Furthermore, Xu and Cheng (2017), Yao et al (2018a, b), Mittal et al (2017), and Tan et al (2018) found that Fintech investments are helpful to improve customers satisfaction.…”

Section: Literature On Fintechmentioning

confidence: 99%

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

et al. 2021

View full text Add to dashboard Cite

Financial technology (Fintech) makes a significant contribution to the financial system by reducing costs, providing higher quality services and increasing customer satisfaction. Hence, new studies play an essential role to improve Fintech investments. This study evaluates Fintech-based investments of European banking services with an application of an original methodology that considers interval type-2 (IT2) fuzzy decision-making trial and evaluation laboratory and IT2 fuzzy TOPSIS models. Empirical findings are controlled for consistency by applying the VIKOR method. Moreover, we conduct a sensitivity analysis by considering six distinct cases. This study contributes to the existing literature by identifying the most important Fintech-based investment alternatives to improve the financial performance of European banks. Our empirical findings illustrate that results are coherent, reliable, and identify “competitive advantage” as the most important factor among Fintech-based determinants. Moreover, “payment and money transferring systems” are the most important Fintech-based investment alternatives. It is recommended that, among Fintech-based investments, European banks should mainly focus on payment and money transferring alternatives to attract the attention of customers and satisfy their expectations. This is also believed to have a positive impact on the ease of bank’ receivable collection. Another important point is that Fintech-based investments in money transferring systems could help to decrease costs.

show abstract

Section: Literature On Fintechmentioning

confidence: 99%

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

et al. 2021

View full text Add to dashboard Cite

show abstract

“…Through PBI No.19 / 12 / PBI / 2017 concerning the Implementation of Financial Technology, Bank Indonesia regulates the obligation to register at Bank Indonesia for Financial Technology Administrators who carry out payment system activities. The registration obligation is excluded for Payment System Service Providers who have obtained licenses from Bank Indonesia and for Financial Technology Administrators who are under the authority of other authorities [2], [10]. Furthermore, Bank Indonesia will announce Financial Technology Providers that have been registered on the official website of Bank Indonesia.…”

Section: Fig 1 Financial Technology Fusion and Services[9]mentioning

confidence: 99%

“…There are several definitions of fin-tech explained by many, but generally fin-tech can be defined as technological innovation in financial services. Financial service providers are developing technology that disrupts traditional financial markets by developing new and sophisticated applications to be used in various types of payments to more complex applications for artificial intelligence and big data [2].…”

Section: Literature Reviewmentioning

confidence: 99%

“…But we see fin-tech startups in Indonesia not the best in terms of innovation, if we compare them to services in other countriestrading is an economic activity that requires high accuracy in its application. Financial technology/Fin-tech is the result of a combination of financial services and technology that ultimately changes the conventional business model to moderate, which initially pays face-to-face and carries a certain amount of cash, can now make long-distance transactions by making payments that can be made in a matter of just seconds [2]. The financial services industry in this country is also significantly changing from time to time due to digital transformation development.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Financial Technology Readiness: Strategic Innovation Management in the Service Industry 4.0

Purba¹,

Hery²,

Lestari³

2019

Proceedings of the Proceedings of the 1st Asian Conference on Humanities, Industry, and Technology for Society, ACHITS 2019, 30

View full text Add to dashboard Cite

The Collaboration of Financial technology readiness on banks and financial institutions with fin-tech services in Indonesia. These fin-tech service companies are developing various kinds of products, establishing partnerships, and providing convenient services to encourage financial inclusion. The aim of this study is to contribute and to respond how the 4.0 technology Readiness ofdigitization in Financial business issues. The customer preferences, particularly amongst millennials and "digital natives" with regard to convenience and or not convenience due to the speed and cost of financial services are increasingly high demand. This research took time 5 months with a number of millennial respondents who already use day to day Fin-tech transaction in the area of greater Jakarta. The quantitative analysis technique is used to present the findings and discussion. Findings proved that; first the readiness using Fin-tech in the growing emerging digital market of the national economy. Second, Financial technology, related to the internet of things, computing power, mobile technology, and big data, has been proven driver of innovation strategy management in financial technology services. In conclusion, the avail of Fin-tech infrastructure will give Strategic Innovationin managing the opportunities for new business sectors related.

show abstract

“…Milenial merupakan generasi yang sudah tidak bisa lepas dari teknologi dan internet. Akan tetapi dalam hal penggunaan teknologi seperti e-money, ada beberapa faktor yang menjadi pertimbangan bagi para kaum milenial khususnya di Indonesia, yaitu; kenyamanan, jaringan yang cepat, biaya, serta ketersediaan informasi yang cukup (Tan, Purba, & Widjaya, 2018). Hal ini didukung dengan beberapa penelitian yang mendapati bahwa kepercayaan masyarakat akan penggunaan e-money masih terbilang rendah diantaranya; penelitian oleh Khatimah dan Halim (2016) yang mendapati bahwa penggunaan e-money dalam berbelanja masih sangat terbatas karena informasi yang dibutuhkan untuk sosialisai penggunaan e-money masih sangat kurang.…”

Section: Pendahuluanunclassified

Analisis Determinan Niat Menggunakan E-Money Di Kalangan Millennials Dengan Pendekatan Utaut

Glady

Rantung

2020

kjm

View full text Add to dashboard Cite

The development of science and technology has an impact on all aspects of life, especially in the payment system in Indonesia. This makes the banking industry improved the innovations in payment system, namely the electronic payment system or e-money. The purpose of this study is to analyze what factors influence millennial intention to use e-money using the Unified Theory of Acceptance and Use of Technology approach. The researcher used the Structural Equation Modeling approach using STATA software. Respondents in this study were 422 millennials. Data used in this study were primary data using a questionnaire, with googleform as a tool to collect data. Descriptive data of this study showed that 54% of the total 422 respondents did not use e-money, but 98% had intention to use e-money in the future. On the other hands the results of this study found that millennial intention to use e-money was significantly positively influenced by performance expectations, followed by business expectations, social influence, self-efficacy and security. Facility conditions are the only variable that does not significantly influence millennial intention to use e-money. Perkembangan ilmu pengetahuan dan teknologi berdampak pada semua aspek kehidupan, khususnya dalam sistem pembayaran yang ada di Indonesia. Hal ini membuat industri perbankan mengembangkan inovasi baru dalam sistem pembayaran, yaitu sistem pembayaran elektronik atau e-money. Tujuan dari penelitian ini adalah untuk menganalisa faktor-faktor apa saja yang mempengaruhi niat milenial untuk menggunakan e-money dengan pendekatan Unified Theory of Acceptance and Use of Technology. Peneliti menggunakan pendekatan Structural Equation Modeling dengan menggunakan perangkat lunak STATA. Responden dalam penelitian ini adalah generasi milenial sebanyak 422 responden dan data yang digunakan dalam penelitian ini adalah data primer dengan menggunakan kuesioner yang dibagikan melalui fasilitas google form sebagai alat untuk mengumpulkan data. Data deskriptif penelitian ini menunjukkan 54% dari total 422 responden belum menggunakan e-money, namun 98% memiliki niat menggunakan e-money di waktu mendatang. Di sisi lain hasil penelitian ini mendapati bahwa niat milenial untuk menggunakan e-money dipengaruhi secara positif signifikan oleh harapan kinerja, diikuti harapan usaha, pengaruh sosial, efikasi diri dan keamanan. Kondisi fasilitas merupakan satu-satunya variabel yang tidak berpengaruh secara signifikan terhadap niat milenial untuk menggunakan e-money.

show abstract

Financial Technology as an Innovation Strategy for Digital Payment Services in the Millenial Generation

Cited by 26 publications

References 9 publications

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

Financial Technology Readiness: Strategic Innovation Management in the Service Industry 4.0

Analisis Determinan Niat Menggunakan E-Money Di Kalangan Millennials Dengan Pendekatan Utaut

Contact Info

Product

Resources

About