Financial Technology: Fragmented for Financial Inclusion?
Ahmad Aziz Putra Pratama
Ahmad Aziz Putra Pratama*, Master of Science in Management, Department of Management, Faculty of Economics and Business, Airlangga University, Surabaya, Indonesia.
Manuscript received on November 22, 2019. | Revised Manuscript received on November 28, 2019. | Manuscript published on November 30, 2019. | PP: 2615-2620 | Volume-8 Issue-4, November 2019. | Retrieval Number: D7253118419/2019©BEIESP | DOI: 10.35940/ijrte.D7253.118419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: This study goals to discuss how the financial inclusion progress in Indonesia could be affected by the growing fintech industry. This research comprehensively discusses the current state of the platforms in the country, including the potential benefits and challenges. Such afflictions include the hugely-concentrated deposit market, to begin with, and the discrepancies between regulators and the technological changes, while the high internet and mobile phone penetration are only one of the many advantages the country endowed. The study also aims to highlight the challenges faced in increasing financial inclusion before the fintech platforms begin to flourish and how they differ to the current condition. The novelty and relevant policy recommendations also provided in the latter parts of the discussion.
Keywords: Financial Technology, Financial Inclusion, Fragmented Instrument, Digital Divide, Indonesia JEL Classification: G21; G28; G41
Scope of the Article: Industrial, Financial and Scientific Applications of All Kind.