Fintech Revolution: How Digitalization Changes the Way We Invest and Save (Jurnal Ilmu Ekonomi, Pendidikan dan Teknik.)

Summary

• The national FinTech ecosystem reached 1,200 companies with daily transactions of USD 890 million or around Rp 14 trillion, growing 62% year-on-year per May 2025.p.2
• Capital market investors grew 11% to 13.45 million in 2024, with 67% of people planning to invest digitally in the following year.p.2
• National financial literacy stands at 46–66%, while digital literacy is at 34–43%, remaining behind the ASEAN average of 70%.p.2
• Cyber risks increased up to 127% YoY with 56,620 consumer complaints regarding FinTech recorded throughout 2025.p.2
• Digital transaction expansion at Bank Tabungan Negara increased by almost 130% in the first semester of 2025.p.6
• The study examined 132 active FinTech user respondents, comprising 57 males (43.2%) and 75 females (56.8%), with 60.6% belonging to Generation Z.p.6
• Policy recommendations highlight strengthening OJK regulations and digital education to support the 90% financial inclusion target by 2027.p.1

Key insights

1. Digitalization of FinTech services has a positive and significant effect on saving habits (β = 0.418, p < 0.001).p.1
2. FinTech digitalization significantly influences asset growth (β = 0.330, p < 0.001).p.1
3. Digital financial literacy moderates the effect of digitalization on asset growth (β = 0.209, p = 0.006).p.1
4. For respondents with low digital financial literacy, the effect of digitalization on asset growth is non-significant (B = 0.113; p = 0.404).p.7
5. Perceived ease of use positively and significantly influences digital investment decisions (β = 0.353; p < 0.001).p.7
6. Trust in the platform positively and significantly impacts the intensity of FinTech service usage (β = 0.342; p < 0.001).p.7
7. Intensity of service usage positively drives asset growth (β = 0.223; p = 0.003).p.7
8. Up to 80% of the capital market is dominated by investors under 40 years of age, with Generation Z making up 57% of that segment.p.6