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Journal : Nomico

The Role of Fintech Technology in Improving Financial Inclusion and Financial System Stability Imaningati, Sri; Mayndarto, Eko Cahyo; Huda, Miftakhul; Bakri, Asri Ady
Nomico Vol. 1 No. 11 (2024): Nomico-December
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/0zh4hm58

Abstract

The development of financial technology (fintech) has had a significant impact on improving financial inclusion and the stability of the global financial system. This study aims to explore the role of fintech technology in promoting people's access to financial services and its contribution to financial system stability. Fintech enables the creation of digital platforms that facilitate services such as electronic payments, peer-to-peer lending, and micro-investments, reaching segments previously neglected by the traditional banking sector. On the other hand, fintech innovations also strengthen supervision and transparency in financial transactions, potentially reducing the risk of financial instability. However, these developments also present challenges, including the need for appropriate regulation to address potential risks such as fraud and personal data management. This research uses a qualitative approach with literature analysis and case studies in several countries that have widely implemented fintech. The results show that fintech has great potential in increasing financial inclusion, but its sustainability and contribution to financial system stability depend on effective regulation and collaboration between the public and private sectors. This research lies in the lack of a thorough study of the regulatory challenges faced by developing countries in implementing fintech to increase financial inclusion without posing a risk of instability. A growing phenomenon is the rapid adoption of fintech in developing countries, yet its impact on financial system stability and associated risks are still not fully understood and adequately addressed
Co-Authors Agus Sevtiana Alfiah, Agry Alfiana Alfiana Andika Isma Anshar Daud Ardenny, Ardenny Ariawan Ariawan Arief Yanto Rukmana AUGUSTA DE JESUS MAGALHAES Bijaang, Djamaluddin Cahyono, Ari Nugroho Chatarina Umbul Wahyuni Dendy K. Pramudito edy susanto Eka, Andi Primafira Bumandava Fitriansyah, Novela Deva Puasa Sucifa Gusneli Gusneli Hadi Sutrisno Hasnidar Husaini Ibrahim, Fifi Nurafifah Imron Natsir, Imron Irwan Irwan Irwan Moridu Iwan Ridwan Iwan Sopwandin Jasiah , Jasiah Jasiyah, Rabiyatul Jemi Pabisangan Tahirs Judijanto, Loso Junaid, Asriani Junaid, Asriyani Jusri, Jusri Kamil, Indriyati Karnawi Kamar, Karnawi Khaerul, Khaerul Khuan, Hendri Kraugusteeliana Kraugusteeliana Lasmiatun , KMT Lestari, Novita Sri Lusianawati, Hayu Makatita, Josephus Alberth Maknun, Andi Batari Annisa Mardi Widodo Mayndarto, Eko Cahyo Mega Arisia Dewi Miftakhul Huda Misnawati, Ira Muhammad Su'un Mursalam Salim Mus, Abd Rahman Mustain, HM. Mudjib Ningsih, Tri Widyastuti Niswatun Hasanah Noor Komari Pratiwi, Noor Komari Nugroho Eko Budiyanto nur, Indrayani Nurul Aulia Mentari Pramudi Harsono Priyo Nugroho, Anton Putra, Muhammad Adhitya Thamisyah Putri, Firda Salsabila Sivana Rahman, Kristanti Ramlan, Dedi Ramli Semmawi, Ramli Restu Widyo Sasongko Riadi Budiman Ridwan Rini Novianti Rita Zulbetti Roslina Alam Rukiyanto Rukiyanto, Rukiyanto Rusmardiana, Ana Saadatirrohmi, Siti Ahdina Said, Saida Sari, Arum Pandan Sari Sartika Lina Mulani SHOLIKAH, MARATUS Siti Noor khikmah Sri Imaningati Sudarmanto, Eko Suhartini Salingkat Sumartono Sumartono Suriani, Seri Tasrim, Tasrim Triyugo Winarko, Triyugo Ummu Kalsum Usmany, Alfrin E. M. Usmany, Paul Utami , Eva Yuniarti Wardi, Suhra Widiniarsih, Dewi Mariam Widjaja, Warkianto Yasrul Yuliyani, Leny Zunaidi, Arif