2019
DOI: 10.18196/ijief.2116
|View full text |Cite
|
Sign up to set email alerts
|

Fintech and Its Potential Impact on Islamic Banking and Finance Industry: A Case Study of Brunei Darussalam and Malaysia

Abstract: Fintech is growing at an exponential rate which leads to the emergence of innovative business models. Advanced technologies like Blockchain, internet of things (IoT's), artificial intelligence (AI), and robotics have become mature enough to create disruption in banking and finance industry both conventional and Islamic finance industry. Brunei Darussalam and Malaysia, both, offer wide range of Shari'a compliant services. The main purpose of this study is to investigate the potential impact of Fintech on the Is… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
2
2
1

Citation Types

0
42
0
8

Year Published

2020
2020
2023
2023

Publication Types

Select...
6
2

Relationship

0
8

Authors

Journals

citations
Cited by 45 publications
(50 citation statements)
references
References 10 publications
0
42
0
8
Order By: Relevance
“…According to Ali et al (2019), financial technology has a great potential impact on both the traditional finance industry and Islamic finance, and this potential impact appears in both positive and negative ways. However, the reaction and response of the IB finance industry to the emergence of fintech and its potential impact appear to be very slow when compared to CBs.…”
Section: Fintech Services and Financial Performance: The Case Of Ibsmentioning
confidence: 99%
See 1 more Smart Citation
“…According to Ali et al (2019), financial technology has a great potential impact on both the traditional finance industry and Islamic finance, and this potential impact appears in both positive and negative ways. However, the reaction and response of the IB finance industry to the emergence of fintech and its potential impact appear to be very slow when compared to CBs.…”
Section: Fintech Services and Financial Performance: The Case Of Ibsmentioning
confidence: 99%
“…Unlike the study by Phan et al (2020), we investigated the different influences of IBs and CBs. Finally, whilst previous studies paid more attention to the theoretical aspect (e.g., Ali et al, 2019) with the empirical aspect being ignored, our study is among the first to apply an empirical fintech study in Gulf Cooperation Council (GCC) countries. Thus, this study aimed to fill this gap in the empirical literature related to the potential impact of fintech on IBs and CBs in the UAE, KSA, and Bahrain.…”
Section: Introductionmentioning
confidence: 99%
“…Salah satu wujudnya adalah inovasi industri keuangan dalam bentuk financial technology atau FinTech (Frame et al, 2018). Industri FinTech semakin meningkat di tengah revolusi digital 4.0 di seluruh dunia dengan menawarkan inovasi jasa seperti dalam industri perbankan dan lembaga keuangan yang sudah ada (Ali et al, 2019). Industri FinTech muncul karena berbagai kendala perbankan dan lembaga keuangan tradisional, yaitu terikat dengan aturan yang sangat ketat dan keterbatasan dalam melayani masyarakat di daerah tertentu.…”
Section: Pendahuluanunclassified
“…Data otentik pertumbuhan industri FinTech di Indonesia tersebut jelas menunjukkan potensi bagi industri perbankan yang sudah mapan, baik perbankan konvensional maupun syariah yang harus direspon secara cepat dalam berbagai aspek benefit, opprtunities, cost dan risk. Hanya saja, reaksi industri perbankan syariah terhadap industri Fintech dan dampak potensialnya sangat lambat dibandingkan dengan industri perbankan konvensional (Ali et al, 2019). Reaksi yang lambat tersebut bisa dimaknai bahwa perbankan syariah belum menganggap FinTech sebagai sebuah peluang dan keuntungan untuk meningkatkan daya saing.…”
Section: Pendahuluanunclassified
“…Higher level of access on financial services also reflect financial inclusion which provide essential indicators to improve society prosperity (Saputro & Lestari, 2019). Moreover, tradtitional financial service is perceived as expensive instrument to improve financial inclusion since it is required large funds to prove financial service in a region whereas fintech allows society to have better access of financial services and projected to be the largest disruptor in financial sector (Ali, Abdullah, & Zaini, 2019;Anikina & et. al., 2016)).…”
Section: Introductionmentioning
confidence: 99%