Proceedings of the 4th International Conference of Economics, Business, and Entrepreneurship, ICEBE 2021, 7 October 2021, Lampung, Indonesia

Research Article

The Effect of Regulatory Sandbox on The Behavior of FinTech Actors in Indonesia Using Theory of Planned Behavior Approach

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  • @INPROCEEDINGS{10.4108/eai.7-10-2021.2316146,
        author={Daniel  Antonius},
        title={The Effect of Regulatory Sandbox on The Behavior of FinTech Actors in Indonesia Using Theory of Planned Behavior Approach},
        proceedings={Proceedings of the 4th International Conference of Economics, Business, and Entrepreneurship, ICEBE 2021, 7 October 2021, Lampung, Indonesia},
        publisher={EAI},
        proceedings_a={ICEBE},
        year={2022},
        month={4},
        keywords={financial technology regulatory sandbox theory of planned behavior indonesia},
        doi={10.4108/eai.7-10-2021.2316146}
    }
    
  • Daniel Antonius
    Year: 2022
    The Effect of Regulatory Sandbox on The Behavior of FinTech Actors in Indonesia Using Theory of Planned Behavior Approach
    ICEBE
    EAI
    DOI: 10.4108/eai.7-10-2021.2316146
Daniel Antonius1,*
  • 1: Universitas Multimedia Nusantara
*Contact email: daniel.antonius@student.umn.ac.id

Abstract

The growth of FinTech has become a new phenomenon in Indonesia. Though, Indonesia’s Government has implemented regulation to facilitate the development of digital financial innovations known as Regulatory Sandbox. Still, the ratio of legal FinTech is very small compared to illegal FinTech. This research using quantitative methods by building 8 hypotheses through the Theory of Planned Behavior approach. The primary data is based on 107 respondent’s, resulted 6 hypotheses have a positive effect while 2 hypotheses have no effect. The findings indicate that one of the reasons why illegal FinTech is greater than legal FinTech is due to lack of interest from FinTech Actors whereas the factor that reduces this interest is the low influence of the authorities and stakeholders in making the Regulatory Sandbox a top priority. This research provides benefits for all stakeholders to make the necessary improvements to increase interest in participating in the Regulatory Sandbox.