Fintech Opportunities in Driving the Indonesian Economy

Abstract

The rapid development of technology will of course have a direct impact on aspects of people's economic life. The presence of financial technology (fintech) will make it easier to obtain financing relatively quickly and easily for capital. Fintech in Indonesia has given rise to new innovations, namely sharia fintech. This research aims to determine the potential opportunities for fintech as an economic development effort that is correlated with sharia principles in encouraging a country's economic growth rate. This study uses a qualitative descriptive qualitative approach because this research will explain the facts or symptoms that appear in the development of sharia fintech in Indonesia. This research uses secondary data collection in the form of news and research journals about the sharia fintech phenomenon in Indonesia. The research results show that currently the development of fintech platforms has become more rapid since 2015. The presence of sharia fintech is a great opportunity to facilitate Muslim communities in applying sharia values when making transactions to meet their financial needs. Based on OJK data, in 2021 the contribution of the Indonesian fintech industry will reach IDR 272.4 trillion.