The Review of Financial Technology Services in Indonesia

Abstract

Technology and digitalization are rapidly changing the way services are in the financial sector. This innovative application of digital technology for financial services (FinTech) has been used to change financial consumers and service providers and help improve communication between the two. FinTech is a combination of financial services and information technology. In this decade, Indonesia is one of the developing countries that currently has experienced an increase in economic terms, as well as in the case of the financial industry which has changed with the development of technology. The paradigm has changed and presented new challenges for regulators and market participants in balancing the potential benefits of innovation with all the risks. This certainly invites the intervention of regulators and business actors about Financial Technology to support the development of FinTech with all its innovations.