Customer Adoption and Perception Towards Fintech in Indonesia: A Diamond in the Rough or a Dime a Dozen?

Customer Adoption and Perception Towards Fintech in Indonesia: A Diamond in the Rough or a Dime a Dozen?

Nofie Iman (Universitas Gadjah Mada, Indonesia)
Copyright: © 2020 |Pages: 17
DOI: 10.4018/978-1-5225-9183-2.ch009

Abstract

While fintech is relatively new in Indonesia, it is visibly emerging and setting for a new path. This chapter is attempting to shed a light on customer adoption and their perceptions toward fintech products and services in Indonesia. This study is descriptive and exploratory by nature. Data gathered from primary surveys as well as secondary sources. This study identifies several factors that significantly affect customer adoption and perception towards fintech products and services, namely relative advantages, trialability, and simplicity. Trust, responsiveness, and empathy are also served as important variables that should be considered as well. It is expected that this study will help researchers and academics who are interested in studying the phenomenon of fintech more broadly.
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What Is Fintech And Why Is It Important?

Unarguably, there are various concepts and diverse definitions regarding fintech. For example, Puschmann (2017) defines fintech as “[…] incremental or disruptive innovations in or in the context of the financial services industry induced by IT developments resulting in new intra- or inter-organizational business models, products and services, organizations, processes and systems” (p74). Meanwhile, Gomber et al. (2017) considered fintech as initiatives in the financial sector that are challenging established roles, business models and service offerings by introducing technology-based innovations.

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