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All Journal Journal of Finance and Islamic Banking
Susila, Wahyu Dwi Agung Priyo
Unknown Affiliation
Religion Economics, Econometrics & Finance Social Sciences

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Artificial Intelligence and Machine Learning in Financial Industry Transformation: A Comparative Analysis of Conventional and Sharia Fintech in Indonesia Maman, Nurmansyah Extrasona; Susila, Wahyu Dwi Agung Priyo
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.12901

Abstract

Purpose: This study examines the role of Artificial Intelligence (AI) and Machine Learning (ML) in transforming Indonesia’s financial industry by comparing their implementation in a conventional fintech company (JULO) and a Sharia-compliant fintech company (ALAMI). The study focuses on differences in AI adoption, value orientation, and their implications for operational efficiency and ethical compliance. Method: This research employs a qualitative comparative case study using secondary data sources, including corporate reports and relevant literature. The analysis is guided by the Technology–Organization–Environment (TOE) framework, Socio-Technical Systems Theory, and Maqasid al-Shariah. Result: The findings show that both companies utilize AI and ML to enhance decision-making and operational efficiency. However, JULO prioritizes speed and scalability, while ALAMI integrates Sharia principles such as justice, transparency, and the avoidance of riba. Implication: The study highlights the importance of aligning AI innovation with ethical and Sharia values in Islamic fintech development. Originality: This study offers a comparative, value-based analysis of AI-driven fintech from conventional and Sharia perspectives in Indonesia.
Co-Authors Maman, Nurmansyah Extrasona