Fintech opportunities and challenges in the sharia banking industry in pandemic times

Aini, Ihdi (2022) Fintech opportunities and challenges in the sharia banking industry in pandemic times. Al-Masharif: Jurnal Ilmu Ekonomi dan Keislaman, 10 (2). pp. 143-157. ISSN 2356-4628

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Abstract

The purpose of this research is to find out the opportunities and challenges of fintech in the Islamic banking industry in the midst of a pandemic. This study uses a qualitative descriptive. The object of study in this research is in the form of texts that describe the opportunities and challenges of fintech in the Islamic banking industry. The results of the study show that the Covid-19 pandemic has provided greater opportunities for Islamic banking fintech because the pandemic has encouraged people to carry out e-commerce transactions. The volume of digital banking transactions increased during the pandemic by up to 20.8%, namely reaching 1,493 million transactions and nominally increasing by 23%, reaching IDR 8,223 trillion. The challenges are the security of data and transactions for users of fintech services, the ease with which customers can switch to other banks, and the lack of knowledge of rural communities to operate Fintech.

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