Proceedings of the 1st Aceh Global Conference (AGC 2018)

Financial Technology as an Innovation Strategy for Digital Payment Services in the Millenial Generation

Authors
Jacob Donald Tan, John Tampil Purba, Andree E. Widjaya
Corresponding Author
John Tampil Purba
Available Online January 2019.
DOI
10.2991/agc-18.2019.58How to use a DOI?
Keywords
FinTech, Technology innovation, Digital payment, Strategy
Abstract

The aim of this paper is to develop a framework for assessing the Financial Technology landscape, which has been implemented by a number of companies in Indonesia. Financial stability is the basic foundation of solid, sustainable and inclusive growth of financial companies in the country. In this regard, this paper responds to the 4.0 technology prioritization of digitization issues. The emergence of technology-enabled innovation in financial services is the result of a confluence of drivers. Customer preferences, particularly amongst millennial, and ―digital natives with regard to convenience, speed and cost of financial services are increasingly demanded. This research was conducted for 7 months, involving millennial respondents who had previously done FinTech transactions in the area of Jakarta, Depok and Tangerang. Quantitative data analysis was employed to analyze the research data. The findings indicate that, first, FinTech has been adopted in some rapidly growing emerging markets and frontier economies but still in small players. Second, evolving technologies, particularly those related to the internet, big data, mobile technology, and computing power, have become the drivers of innovations in financial services. In conclusion, there are a number of business opportunities which have opened for new entrants in the financial sectors by using the IT collaboration systems

Copyright
© 2018, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 1st Aceh Global Conference (AGC 2018)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
January 2019
ISBN
978-94-6252-644-0
ISSN
2352-5398
DOI
10.2991/agc-18.2019.58How to use a DOI?
Copyright
© 2018, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Jacob Donald Tan
AU  - John Tampil Purba
AU  - Andree E. Widjaya
PY  - 2019/01
DA  - 2019/01
TI  - Financial Technology as an Innovation Strategy for Digital Payment Services in the Millenial Generation
BT  - Proceedings of the 1st Aceh Global Conference (AGC 2018)
PB  - Atlantis Press
SP  - 364
EP  - 373
SN  - 2352-5398
UR  - https://doi.org/10.2991/agc-18.2019.58
DO  - 10.2991/agc-18.2019.58
ID  - Tan2019/01
ER  -