Economic behaviour Indonesian Islamic Society in investing and managing finances: A qualitative analysis of the impact of fintech

Abstract

Fintech is a form of shifting society to the digital industry which is a combination of abbreviations from financial and technology. Fintech facilitates all economic activities of society, but fintech also causes addiction for its users and even data leakage and misuse for illegal activities. The method used is a qualitative approach by analysing the novelty and research findings based on literature research from previous studies, namely that fintech can influence the mindset and lifestyle of Indonesians on the grounds that it is easier and more practical such as online loans and online investments as well as increasing the economic growth of a country's GDP and the income of Indonesians in various fields of work. The purpose of this study is to determine the impact of fintech on the behaviour of Islamic society in investing and managing finances, which previously all economic activities were still carried out traditionally, now people are turning to all-digital financial technology. The result of this study is that although fintech has brought many positive changes in the way people interact with finance and technology, it is also important to recognise the risks and challenges that fintech may pose. Proper regulation and consumer protection are also important in dealing with the impact of fintech so that the existence of fintech can benefit all levels of Indonesian society, especially can increase Indonesia's economic growth through short and long term investment