Biblio

Financial technology (Fintech) is an amalgamation of financial management using a technology system. Fintech has become a public concern because this service provides many service features to make it easier from the financial side, such as being used in cooperative financial institutions, banking and insurance. This paper will analyze the opportunities and challenges of Fintech sharia in Indonesia. By exploring the existing literature, this article will try to answer that question. This research is carried out using a literature review approach and comparative qualitative method which will determined the results of the SWOT analysis of sharia financial technology in indonesia. It is needed to mitigate risk of funding in a peer to peer method in overcoming the security of funds and data from investors, firstly companies can perform transparency on the clarity of investor funds. This is done as one of the facilities provided to investors in the Fintech application. In the future, it is hoped that in facing competition, sharia-based fintech companies must be able to provide targeted services through the socialization of sharia fintech to the public, both online and offline. Investors are expected to be more careful before investing in choosing Fintech Peer to Peer (P2P) Lending services by checking the list of Fintech lending and lending companies registered and found by the Financial Services Authority (OJK).

FinBots are chatbots built on automated decision technology, aimed to facilitate accessible banking and to support customers in making financial decisions. Chatbots are increasing in prevalence, sometimes even equipped to mimic human social rules, expectations and norms, decreasing the necessity for human-to-human interaction. As banks and financial advisory platforms move towards creating bots that enhance the current state of consumer trust and adoption rates, we investigated the effects of chatbot vignettes with and without socio-emotional features on intention to use the chatbot for financial support purposes. We conducted a between-subject online experiment with N = 410 participants. Participants in the control group were provided with a vignette describing a secure and reliable chatbot called XRO23, whereas participants in the experimental group were presented with a vignette describing a secure and reliable chatbot that is more human-like and named Emma. We found that Vignette Emma did not increase participants' trust levels nor lowered their privacy concerns even though it increased perception of social presence. However, we found that intention to use the presented chatbot for financial support was positively influenced by perceived humanness and trust in the bot. Participants were also more willing to share financially-sensitive information such as account number, sort code and payments information to XRO23 compared to Emma - revealing a preference for a technical and mechanical FinBot in information sharing. Overall, this research contributes to our understanding of the intention to use chatbots with different features as financial technology, in particular that socio-emotional support may not be favoured when designed independently of financial function.