Development of Financial Technology (Fintech) in Indonesia and Its Affecting Factors

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Dewi Sartika, Firwan Tan, Adrimas, Asniati, Ari Warokka


The purpose of this study was to identify the factors influencing the development of Indonesian financial technology (Fintech) based on the evaluation of the CEO of Fintech Peer to Peer (P2P) Lending. The research methodology was a two-step method, an exploratory factor analysis method for evaluating the formulation of indicators, followed by a confirmatory factor analysis method. In the first step, based on literature research, 50 indicators that are expected to influence the development of FinTech in Indonesia were developed. We conducted a survey of 93 CEOs of Fintech P2P Lending in Indonesia to see if the 50 indicators affect Fintech development. The results show that there are six factors that have a major impact on FinTech development: Human Resources (HR), Digital Finance and Payments, Communications Infrastructure, Technology and Internet Development, and Government Regulations. Although the company's operational factors did not affect the development of FinTech in Indonesia

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