SYNCHRONIZE FINTECH AND THE BANKING INDUSTRY

Abstract

The purpose of Indonesia banking industry is to help carry out national development to achieve equity, economic growth, and improvement of people's welfare. On the other hand, fintech offers products and services that are easier and faster than through the administrative process at the bank. Fintech can reach people who do not have access to the banking industry. New innovations incorporated in the world of technology and the internet make the world grow faster, including currently in Indonesia is the start of a popular business related to fintech (financial technology) as a provider of financial technology that includes payment systems, market support, investment management and management risk, loans, financing and capital providers, and other financial services. The purpose of this study is to determine the relationship between fintech and the banking industry. The method used is descriptive qualitative. The data used are primary data. The result is that banks must work together with fintech as partners to grow together. Basically, there are advantages and disadvantages to the bank and fintech itself. Banks should work with fintech as partners to grow together. Distortion cannot be avoided, but can only be minimized. Although there are rules of cooperation between banks and fintech actors in POJK / 12/2018 regarding the implementation of digital banking services by commercial banks, they have not been specifically regulated. There must be regulations from the government that support innovation and collaboration between banks and fintech, so that both can play a role in national development.