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Factors determining behavioral intentions to use Islamic financial technology

Factors determining behavioral intentions to use Islamic financial technology The purpose of this paper is to investigate the influential factors on behavioral intentions toward Islamic financial technology (FinTech) use in Indonesia, for all types of FinTech services as follows: payments, peer to peer lending and crowdfunding.Design/methodology/approachThis study adopted structural equation modeling using the partial least squares approach to test the hypotheses. Based on purposive sampling, the questionnaire was distributed through an online survey and received 1,262 responses.FindingsThe results demonstrate that the latent variables, planned behavior, acceptance model and use of technology, have a significant impact on encouraging behavioral intentions to use Islamic FinTech. The “acceptance model” latent variable is the most influential factor.Research limitations/implicationsThis study was conducted only in Indonesia; therefore, the results cannot be generalized to other countries. However, the study provides important strategic guidelines for policymakers in designing a framework to enhance the development of Islamic FinTech and to achieve financial inclusion. It is suggested that future studies include samples from FinTech users in different countries.Originality/valueThis study adds to the literature especially on the factors affecting behavioral intentions to use Islamic FinTech. There are limited studies concerning this topic, especially for Indonesia. The unique feature of this study is the use of a large primary data set that covers most provinces in Indonesia. Furthermore, this study focuses on three types of Islamic FinTech, namely, payments, peer to peer lending and crowdfunding. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Islamic Marketing Emerald Publishing

Factors determining behavioral intentions to use Islamic financial technology

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1759-0833
DOI
10.1108/jima-12-2019-0252
Publisher site
See Article on Publisher Site

Abstract

The purpose of this paper is to investigate the influential factors on behavioral intentions toward Islamic financial technology (FinTech) use in Indonesia, for all types of FinTech services as follows: payments, peer to peer lending and crowdfunding.Design/methodology/approachThis study adopted structural equation modeling using the partial least squares approach to test the hypotheses. Based on purposive sampling, the questionnaire was distributed through an online survey and received 1,262 responses.FindingsThe results demonstrate that the latent variables, planned behavior, acceptance model and use of technology, have a significant impact on encouraging behavioral intentions to use Islamic FinTech. The “acceptance model” latent variable is the most influential factor.Research limitations/implicationsThis study was conducted only in Indonesia; therefore, the results cannot be generalized to other countries. However, the study provides important strategic guidelines for policymakers in designing a framework to enhance the development of Islamic FinTech and to achieve financial inclusion. It is suggested that future studies include samples from FinTech users in different countries.Originality/valueThis study adds to the literature especially on the factors affecting behavioral intentions to use Islamic FinTech. There are limited studies concerning this topic, especially for Indonesia. The unique feature of this study is the use of a large primary data set that covers most provinces in Indonesia. Furthermore, this study focuses on three types of Islamic FinTech, namely, payments, peer to peer lending and crowdfunding.

Journal

Journal of Islamic MarketingEmerald Publishing

Published: May 12, 2021

Keywords: Indonesia; Islamic financial services marketing; Behavioural intention; Islamic financial technology

References