Downloads
Abstract
This research analyzes the development of technology and innovation in the financial sector with a focus on digital transformation of the fintech industry in Indonesia. Using a qualitative approach with descriptive-explorative methods through documentary studies, this research examines scientific literature and regulatory documents from 2021-2025. The results show that fintech evolution has created three main categories: third-party payment systems, peer-to-peer lending, and crowdfunding that have successfully increased financial inclusion significantly. Implementation of supporting technologies such as blockchain, big data analytics, and artificial intelligence has optimized operational efficiency by reducing transaction costs and accelerating financial service processes. The regulatory framework through regulatory sandbox and OJK Regulation on Digital Financial Innovation has created a balance between encouraging innovation and protecting consumers. This transformation faces complex challenges including cybersecurity, digital divide, and market concentration risks. Positive impacts on consumer behavior show a structural shift from cash to digital payments accelerated by the COVID-19 pandemic. The research concludes that digital transformation of the financial sector represents a fundamental change that creates a more democratic, efficient, and inclusive financial ecosystem with promising prospects for future technology development.
Keywords
Financial Technology ; Digital Transformation ; Financial Inclusion ; Regulatory Sandbox ; Financial Innovation
Article Information
This article has been peer-reviewed and published in the Jurnal EMT KITA. The content is available under the terms of the Creative Commons Attribution 4.0 International License.
-
Issue: Vol. 10 No. 2 (2026)
-
Section: Articles
-
Published: %750 %e, %2025
-
License: CC BY 4.0
-
Copyright: © 2025 Authors
-
DOI: 10.35870/emt.v9i4.4710
AI Research Hub
This article is indexed and available through various AI-powered research tools and citation platforms. Our AI Research Hub ensures that scholarly work is discoverable, accessible, and easily integrated into the global research ecosystem. By leveraging artificial intelligence for indexing, recommendation, and citation analysis, we enhance the visibility and impact of published research.
Masno Marjohan
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
Hadi Supratikta
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
Endang Rusdiana
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
Abidin Candra Nurdin
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
Andreas Budi Cahyanto
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
Istiqomah Istiqomah
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
Vita Airlanggia
Universitas Pamulang, Kota Tangerang Selatan, Provinsi Banten, Indonesia.
-
Arner, D. W., Barberis, J., & Buckey, R. P. (2016). FinTech, RegTech, and the reconceptualization of financial regulation. Nw. J. Int'l L. & Bus., 37, 371.
-
Braun, V., & Clarke, V. (2021). Thematic analysis: A practical guide. https://doi.org/10.1080/13642537.2024.2391666.
-
Chen, M., Mao, S., & Liu, Y. (2014). Big data: A survey. Mobile networks and applications, 19(2), 171-209.
-
Comert, O. (2020). Blockchain revolution: how the technology behind bitcoin and other cryptocurrencies is changing the world.
-
Creswell, J. W., & Creswell, J. D. (2023). Research design: Qualitative, quantitative, and mixed methods approaches (6th ed.). SAGE Publications. https://doi.org/10.4324/9780429469237-3.
-
Demirgüç-Kunt, A., & Singer, D. (2017). Financial inclusion and inclusive growth: A review of recent empirical evidence. World bank policy research working paper, (8040). https://doi.org/10.1596/1813-9450-8040.
-
Fernández, A. (2019). Artificial intelligence in financial services. Banco de Espana Article, 3, 19.
-
Gomber, P., Koch, J. A., & Siering, M. (2017). Digital Finance and FinTech: current research and future research directions. Journal of business economics, 87(5), 537-580.
-
Keuangan, O. J. (2023). Laporan tahunan OJK 2020. Jakarta: Otoritas Jasa Keuangan.
-
Pal, A., Tiwari, C. K., & Behl, A. (2021). Blockchain technology in financial services: a comprehensive review of the literature. Journal of Global Operations and Strategic Sourcing, 14(1), 61-80.
-
Philippon, T. (2016). The fintech opportunity (No. w22476). National Bureau of Economic Research.
-
Qothrunnada, N. A., Iswanto, J., Hendratri, B. G., & Subekan, S. (2023). Transformasi Digital Lembaga Keuangan Syariah: Peluang dan Implementasinya di Era Industri 4.0. Indonesian Journal of Humanities and Social Sciences, 4(3), 741-756. https://doi.org/10.33367/ijhass.v4i3.4585.
-
Sofyan, H., Budi Harto, A., Adzka Rosa Sanjayyana, & Muis Wirasujatma. (2023). Studi literatur review fintech dalam mendukung transformasi. ATRABIS Jurnal Administrasi Bisnis (e-Journal), 9(1), 67–77. https://doi.org/10.38204/atrabis.v9i1.1429.
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. Copyright Retention and Open Access License
Authors retain copyright of their work and grant the journal non-exclusive right of first publication under the Creative Commons Attribution 4.0 International License (CC BY 4.0).
This license allows unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
2. Rights Granted Under CC BY 4.0
Under this license, readers are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, including commercial use
- No additional restrictions — the licensor cannot revoke these freedoms as long as license terms are followed
3. Attribution Requirements
All uses must include:
- Proper citation of the original work
- Link to the Creative Commons license
- Indication if changes were made to the original work
- No suggestion that the licensor endorses the user or their use
4. Additional Distribution Rights
Authors may:
- Deposit the published version in institutional repositories
- Share through academic social networks
- Include in books, monographs, or other publications
- Post on personal or institutional websites
Requirement: All additional distributions must maintain the CC BY 4.0 license and proper attribution.
5. Self-Archiving and Pre-Print Sharing
Authors are encouraged to:
- Share pre-prints and post-prints online
- Deposit in subject-specific repositories (e.g., arXiv, bioRxiv)
- Engage in scholarly communication throughout the publication process
6. Open Access Commitment
This journal provides immediate open access to all content, supporting the global exchange of knowledge without financial, legal, or technical barriers.