Digitalization of Banking for National Economic Recovery through Collaboration with the Fintech Industry

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Digitalization of Banking for National Economic Recovery through Collaboration with the Fintech Industry

ABSTRACT: The Covid-19 pandemic has wreaked havoc on a variety of industries, including Indonesia’s banking sector. These encourage efforts to recover the national economy.This problem occurs due to the slow process of accelerating digital transformation in banking and the lack of the banking industry in developing collaboration with the FinTech industry.The main objective of this research is to examine banking digitalization for economic recovery through collaboration with the FinTech industry during the Covid-19 pandemic.Approach with a quantitative method used for this empirical research and data collection using the purposive Random Sampling Technique. The survey results obtained 100 samples as valid data and were processed using smartPLS software.The main result of this empirical study states that the FinTech industry has a significant influence in mediating and has strong potential in moderating banking digitalization as a driver in the national economic recovery through collaboration with the FinTech industry.This research makes a real contribution to the banking sector in accelerating the digital transformation of banking to support engagement with the FinTech industry in driving national economic recovery.

KEYWORDS–Banking industry, Collaboration, Digitalization, FinTech industry

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