Building Trust in the Use of Sharia Fintech Services: A Literature Review

Authors

  • Oktafian Histori S. Institut Agama Islam Negeri Curup, Indonesia

DOI:

https://doi.org/10.29240/alfalah.v7i2.5278

Keywords:

Trust, Benefit, Risk, Sharia Fintech

Abstract

Purpose: This study analyzes how to build trust in the use of sharia fintech services in Indonesia by considering the benefits and risks faced by users.

Design/Method/Approach: Descriptive qualitative research design with a literature review approach was used in this study. The data collection method was documentation technique while the data analysis technique used conclusion drawing technique to obtain information about a message objectively and systematically.

Findings: The results of the study show that building trust in the use of sharia fintech services is something that must be done by sharia fintech startup companies since Indonesia is a country with a majority Muslim community. Trust is built by maximizing the benefits obtained and minimizing the risks that will be faced by users.

Originality/Values:This research contributes to provide valuable information regarding how to build trust in the use of sharia fintech services in Indonesia in the context of developing the sharia industry and economy.

Downloads

Download data is not yet available.

References

Adaba, Godfried B., Daniel A. Ayoung, and Pamela Abbott. “Exploring the Contribution of Mobile Money to Well-Being from a Capability Perspective.†Electronic Journal of Information Systems in Developing Countries 85, no. 4 (2019). https://doi.org/10.1002/isd2.12079.

Al-Nawayseh, Mohammad K. “Fintech in COVID-19 and beyond: What Factors Are Affecting Customers’ Choice of Fintech Applications?†Journal of Open Innovation: Technology, Market, and Complexity 6, no. 4 (2020): 1–15. https://doi.org/10.3390/joitmc6040153.

Aldás-Manzano, Joaquín, Carla Ruiz-Mafé, and Silvia Sanz-Blas. “Exploring Individual Personality Factors as Drivers of M-Shopping Acceptance.†Industrial Management & Data Systems 109, no. 6 (2009): 739–57. https://doi.org/10.1108/02635570910968018.

Anckar, Bill, and Davide D’Incau. “Value Creation in Mobile E Commerce : Findings From A Consumer Survey.†Journal Of Information Technology Theory and Application 4, no. 1 (2002): 43–64.

Bank Indonesia, Fintech Office. “Financial Technology: Perkembangan Dan Respons Kebijakan Bank Indonesia.†Bank Indonesia. Jakarta, 2020. https://doi.org/10.4324/9780429344015-2.

Bharadwaj, Prashant, William Jack, and Tavneet Suri. “Fintech and Household Resilience to Shocks: Evidence from Digital Loans in Kenya.†Massachussetts, 2019. http://www.nber.org/papers/w25604.

BI. “Sekilas Sistem Pembayaran Di Indonesia,†2020. https://www.bi.go.id/id/fungsi-utama/sistem-pembayaran/default.aspx.

Chen, Mark A., Qinxi Wu, and Baozhong Yang. “How Valuable Is FinTech Innovation?†Review of Financial Studies 32, no. 5 (2019): 2062–2106. https://doi.org/10.1093/rfs/hhy130.

Chin, Amita Goyal, Mark A. Harris, and Robert Brookshire. “An Empirical Investigation of Intent to Adopt Mobile Payment Systems Using a Trust-Based Extended Valence Framework.†Information Systems Frontiers 24, no. 1 (2022): 329–47. https://doi.org/10.1007/s10796-020-10080-x.

Choi, Hanbyul, Yoonhyuk Jung, and Young Rok Choi. “Understanding of the Fintech Phenomenon in the Beholder’s Eyes in South Korea.†Asia Pacific Journal of Information Systems, 2019. https://doi.org/10.14329/apjis.2019.29.1.117.

Davis, Fred D., Richard P. Bagozzi, and Paul R. Warshaw. “User Acceptance of Computer Technology: A Comparison of Two Theoretical Models.†Management Science 35, no. 8 (1989): 982–1003. https://doi.org/10.1287/mnsc.35.8.982.

Gefen, David, and Detmar Straub. “Managing User Trust in B2C E-Services.†E-Service Journal 2, no. 2 (2003): 7–24. https://doi.org/10.2979/esj.2003.2.2.7.

Gomber, Peter, Robert J. Kauffman, Chris Parker, and Bruce W. Weber. “On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services.†Journal of Management Information Systems 35, no. 1 (2018): 220–65. https://doi.org/10.1080/07421222.2018.1440766.

Ha, Young Wook, Jimin Kim, Christian Fernando Libaque-Saenz, Younghoon Chang, and Myeong Cheol Park. “Use and Gratifications of Mobile SNSs: Facebook and KakaoTalk in Korea.†Telematics and Informatics 32, no. 3 (2015): 425–38. https://doi.org/10.1016/j.tele.2014.10.006.

He, Dong, Ross Leckow, Vikram Haksar, Tommaso Mancini-Griffoli, Nigel Jenkinson, Mikari Kashima, Tanai Khiaonarong, Céline Rochon, and Hervé Tourpe. “Fintech and Financial Services: Initial Considerations.†International Monetary Fund, 2017, 49. https://www.imf.org/~/media/Files/Publications/SDN/2017/sdn1705.ashx.

Hendrianto, Hendrianto, Juhaya S. Praja, and Nurrahman. “Sharia Philosophy Correlation and the Islamic Economic Philosophy.†Economit Journal: Scientific Journal of Accountancy, Management and Finance 1, no. 1 (2021): 12–20. https://doi.org/10.33258/economit.v1i1.370.

Jacob, J., and L. B. Kaplan. “The Components of Perceived Risk In M. Venkatesan (Ed.).†In Proceedings of the Third Annual Conference of the Association for Consumer Research, 382–393. Chicago, 1972.

Keith, Mark J., Jeffry S. Babb, Paul Benjamin Lowry, Christopher P. Furner, and Amjad Abdullat. “The Role of Mobile-Computing Self-Efficacy in Consumer Information Disclosure.†Information Systems Journal 25, no. 6 (2015): 637–67. https://doi.org/10.1111/isj.12082.

Kiconco, Rebecca I., Gerrit Rooks, Giacomo Solano, and Uwe Matzat. “A Skills Perspective on the Adoption and Use of Mobile Money Services in Uganda.†Information Development 35, no. 5 (2019): 724–38. https://doi.org/10.1177/0266666918788908.

Kim, Dan J., Donald L. Ferrin, and H. Raghav Rao. “Trust and Satisfaction, Two Stepping Stones for Successful e-Commerce Relationships: A Longitudinal Exploration.†Information Systems Research 20, no. 2 (2009): 237–57. https://doi.org/10.1287/isre.1080.0188.

Kim, Dan J., Donald L. Ferrin, and H. Raghav Rao. “A Trust-Based Consumer Decision-Making Model in Electronic Commerce: The Role of Trust, Perceived Risk, and Their Antecedents.†Decision Support Systems 44, no. 2 (2008): 544–64. https://doi.org/10.1016/j.dss.2007.07.001.

Kim, Yonghee, Young-Ju Park, Jeongil Choi, and Jiyoung Yeon. “An Empirical Study on the Adoption of ‘Fintech’ Service: Focused on Mobile Payment Services.†Advanced Science and …. researchgate.net, 2015. https://doi.org/10.14257/astl.2015.114.26.

Leong, Carmen, Barney Tan, Xiao Xiao, Felix Ter Chian Tan, and Yuan Sun. “Nurturing a FinTech Ecosystem: The Case of a Youth Microloan Startup in China.†International Journal of Information Management 37, no. 2 (2017): 92–97. https://doi.org/10.1016/j.ijinfomgt.2016.11.006.

Liébana-Cabanillas, Francisco, Iviane Ramos de Luna, and Francisco J. Montoro-Ríos. “User Behaviour in QR Mobile Payment System: The QR Payment Acceptance Model.†Technology Analysis and Strategic Management 27, no. 9 (2015): 1031–49. https://doi.org/10.1080/09537325.2015.1047757.

Manyika, James, Susan Lund, Marc Singer, Olivia White, and Chris Berry. “Digital Finance for All : Powering Inclusive Growth in Emerging Economies.†McKinsey Global Institute, no. September (2016): 24.

Mayer, Roger C., James H. Davis, and F. David Schoorman. “An Integrative Model Of Organizational Trust.†Academy of Management Review 20, no. 3 (1995): 709–34. https://doi.org/10.5465/amr.1995.9508080335.

Octaviano, Adrianus. “Bantu UMKM, Penyelenggara Fintech Berikan 55 Program Insentif Selama Pandemi Covid-19.†kontan.co.id, 2021. https://keuangan.kontan.co.id/news/bantu-umkm-penyelenggara-fintech-berikan-55-program-insentif-selama-pandemi-covid-19.

OJK. “Literasi Keuangan.†ojk.go.id, 2019. https://www.ojk.go.id/id/kanal/edukasi-dan-perlindungan-konsumen/Pages/Literasi-Keuangan.aspx.

Rahardyan, Aziz. “Fintech Kian Subur Di Masa Pandemi, OJK Siapkan Peta Jalan Keuangan Digital.†Bisnis.com, 2020. https://finansial.bisnis.com/read/20200824/563/1282338/fintech-kian-subur-di-masa-pandemi-ojk-siapkan-peta-jalan-keuangan-digital-.

Ryu, Hyun Sun. “What Makes Users Willing or Hesitant to Use Fintech?: The Moderating Effect of User Type.†Industrial Management and Data Systems 118, no. 3 (2018): 541–69. https://doi.org/10.1108/IMDS-07-2017-0325.

Saripudin, Saripudin, Prameswara Samofa Nadya, and Muhammad Iqbal. “Upaya Fintech Syariah Mendorong Akselerasi Pertumbuhan UMKM Di Indonesia.†Jurnal Ilmiah Ekonomi Islam 7, no. 1 (2021): 41. https://doi.org/10.29040/jiei.v7i1.1449.

Singh, Shubhangi, Marshal M. Sahni, and Raj K. Kovid. “What Drives FinTech Adoption? A Multi-Method Evaluation Using an Adapted Technology Acceptance Model.†Management Decision 58, no. 8 (2020): 1675–97. https://doi.org/10.1108/MD-09-2019-1318.

Stewart, Harrison, and Jan Jürjens. “Data Security and Consumer Trust in FinTech Innovation in Germany.†Information & Computer Security 26, no. 1 (2018): 109–28.

Trimulato, Trimulato. “Fintech for Sharia Micro Finance Institution: Qualitative Analysis toward Utilization of Financial Technology in BPRS and BMT.†AL-FALAH : Journal of Islamic Economics 4, no. 2 (2019): 123. https://doi.org/10.29240/alfalah.v4i2.917.

Warkentin, Merrill, David Gefen, Paul A. Pavlou, and Gregory M. Rose. “Encouraging Citizen Adoption of E-Government by Building Trust.†Electronic Markets 12, no. 3 (2002): 157–62. https://doi.org/10.1080/101967802320245929.

Yan, Zheng, Peng Zhang, and Robert H. Deng. “TruBeRepec: A Trust-Behavior-Based Reputation and Recommender System for Mobile Applications.†Personal and Ubiquitous Computing 16, no. 5 (2012): 485–506. https://doi.org/10.1007/s00779-011-0420-2.

Yudhira, Ahmad. “Analisis Perkembangan Financial Technology (Fintech) Syariah Pada Masa Pandemi Covid-19 Di Indonesia.†Value 2, no. 1 (2021): 13–28. https://doi.org/10.36490/value.v2i1.118.

Downloads

Additional Files

Published

2022-11-28

How to Cite

S., O. H. (2022). Building Trust in the Use of Sharia Fintech Services: A Literature Review. AL-FALAH : Journal of Islamic Economics, 7(2), 157–174. https://doi.org/10.29240/alfalah.v7i2.5278

Issue

Section

Articles

Citation Check