Strategies For The Development Of Sharia Fintech In Indonesia

Abstract

Financial Technology (fintech) becomes one proof of the development of digital technology which provides innovation and impact on all economic activities. This fact confirms the theory of disruption, which claims innovation successfully transforms a system by introducing practicality, faster, cheaper, and better. Indonesia as a country with largest Muslim population in the world is home to the emergence of sharia fintech. By using the method of Analytic Network Process (ANP) this research aims to describe the problems, solutions and strategies as acceleration factors of sharia fintech development in Indonesia. Analysis results of data processing of this study show the main problems lies in the regulation, institutions, consumers, and infrastructure. The solution to answer the problems of regulation, institutions, consumers, and infrastructure. Priority issues show regulation as the main problem and the consumer as the main solution. the strategy is sorted from the results of data processing based on priority scale consists of special policies by the government for Shariah fintech in Indonesia, socialization and education to the public about Shariah fintech reaching to the countryside, improving the quality of human resources regarding technology and Sharia principles, synergy of Shariah fintech practitioners with Shariah financial stakeholders and competitive research and development in supporting the development of Shariah fintech.