Modelling the use of FinTech in Indonesia

Nowadays, the existence of FinTech services has been emerging in many parts of countries including Indonesia. This service combines financial services and mobile technology to serve consumers more effectively and efficiently relating to their needs of financial services. Its market size is also growing giving sign that the service is widely accepted. However, there is still a lack of study especially relating to consumer behavior in in adopting the service. Therefore, the aim of this research is to study what factors influence consumers in adopting FinTech services by surveying Indonesian consumers. From 250 respondents, there are 204 forms filled. By conducting Structural Equation Modeling (SEM) using Lisrel 8.80 software, all consumer's inputs are computed. From this computation, there are three results that can be drawn. First, it revealed that trust has generally influenced not only user's satisfaction but also his continuance use intention, meanwhile, his satisfaction may not influence his continuance use intention. Second, all factors of convenience, performance, cost advantages, referent network size and perceived complementary are all together influencing user' satisfaction. Third, all factors of authentication, non-repudiation, confidentially, privacy protection, and data integrity are all together needed to be considered. Therefore, any Fintech companies are suggested to be aware of these matters to win their customers in this market.