Fintech Risks and Continuance to use on Generation Z

• Autores: Mahendra Adhi Nugroho, Budi Tiara Novitasari
• Localización: International Journal of Professional Business Review: Int. J. Prof.Bus. Rev., ISSN 2525-3654, ISSN-e 2525-3654, Vol. 8, Nº. 6, 2023 (Ejemplar dedicado a: Continuous publication; e01278)
• Idioma: inglés
• DOI: 10.26668/businessreview/2023.v8i6.541
• Enlaces
  • Texto completo (pdf)
• Resumen
  • español

    Propósito: La mayoría de los usuarios de fintech serán la generación Z; por lo tanto, comprender a la generación Z es fundamental. Este estudio tiene como objetivo explorar la relación entre el riesgo financiero, el riesgo legal, el riesgo de seguridad y el riesgo operativo con el riesgo en el uso de fintech. Este estudio también examina la influencia del riesgo de fintech en la intención de la generación Z de continuar usando fintech.

    Marco teórico: Estudios previos (Darmiasih & Setiawan, 2020; Leon & Diana, 2020; Putritama, 2019; Ryu, 2018) analizaron la relación entre el riesgo y la continuidad del uso de fintech excluyendo la perspectiva de la generación Z del estudio. Este estudio llena el vacío de investigación centrándose en la Generación Z.

    Metodología: Este estudio adopta un enfoque cuantitativo. Este estudio distribuye cuestionarios en línea a la Generación Z en Indonesia. Este estudio utilizó el enfoque de mínimos cuadrados parciales para responder la pregunta de investigación utilizando 199 respuestas obtenidas de la encuesta del país. El análisis es asistido por el software SmartPLS 3.2.8.

    Hallazgos: El resultado del análisis mostró una relación positiva entre el riesgo financiero, el riesgo legal, el riesgo de seguridad y el riesgo operativo con el riesgo en el uso de fintech. Este estudio también encontró una relación negativa entre el riesgo de fintech y la intención de la Generación Z de continuar usando fintech entre la Generación Z.

    Implicaciones de la Investigación: este estudio brinda una nueva visión de la industria fintech al anticipar futuras fallas en el negocio.

    Originalidad/valor: el hallazgo de este estudio brinda una nueva perspectiva (Generación Z) sobre el uso de fintech y la investigación de riesgos, que rara vez se llevó a cabo en la mayoría de las publicaciones de estudios anteriores.

    Palabras clave: riesgo fintech; continuación de uso; generación Z

  • English

    Purpose: Most fintech users will be the generation Z; thus, understanding the generation Z is essential. This study is aimed to explore the relationship between financial risk, legal risk, security risk, and operational risk with risk in using fintech. This study also examines fintech risk influence on generation Z’s intention to continuance to use fintech.

      Theoretical framework: Previous studies (Darmiasih & Setiawan, 2020; Leon & Diana, 2020; Putritama, 2019; Ryu, 2018) analyzed the relationship between risk and fintech use continuance by excluding the generation Z perspective from the study. This study fills the research gap by focusing on Generation Z.

      Design/methodology/approach:  This study adopts a quantitative approach. This study distributes online questionnaires to Generation Z in Indonesia. This study utilized the Partial Least Square approach to answer the research question using 199 responses earned from the country survey. The analysis is assisted by SmartPLS 3.2.8 software.

      Findings: The analysis result showed a positive relationship between financial risk, legal risk, security risk, and operational risk with risk in using fintech. This study also found a negative relationship between fintech risk and Generation Z’s intention to continuance to use fintech among Generation Z   Research, Practical & Social implications:  This study gives a new insight into the fintech industry in anticipating future failure in the business.

      Originality/value: This study finding provides a new perspective (Generation Z) on fintech use and risk investigation, which was rarely conducted in the previous studies most publications.

  • português

    Objetivo: A maioria dos usuários de fintech será a geração Z; assim, entender a geração Z é essencial. Este estudo tem como objetivo explorar a relação entre risco financeiro, risco legal, risco de segurança e risco operacional com risco no uso de fintech. Este estudo também examina a influência do risco de fintech na intenção da geração Z de continuar usando fintech.

    Referencial teórico: Estudos anteriores (Darmiasih & Setiawan, 2020; Leon & Diana, 2020; Putritama, 2019; Ryu, 2018) analisaram a relação entre risco e continuidade do uso de fintech, excluindo a perspectiva da geração Z do estudo. Este estudo preenche a lacuna de pesquisa, concentrando-se na Geração Z.

    Desenho/metodologia/abordagem: Este estudo adota uma abordagem quantitativa. Este estudo distribui questionários online para a Geração Z na Indonésia. Este estudo utilizou a abordagem Partial Least Square para responder à pergunta de pesquisa usando 199 respostas obtidas na pesquisa do país. A análise é auxiliada pelo software SmartPLS 3.2.8.

    Resultados: O resultado da análise mostrou uma relação positiva entre risco financeiro, risco legal, risco de segurança e risco operacional com risco no uso de fintech. Este estudo também encontrou uma relação negativa entre o risco de fintech e a intenção da Geração Z de continuar usando fintech entre a Geração Z.

    Pesquisa, implicações práticas e sociais: Este estudo fornece uma nova visão sobre o setor de fintech para antecipar falhas futuras nos negócios.

    Originalidade/valor: O achado deste estudo fornece uma nova perspectiva (Geração Z) sobre o uso de fintech e investigação de risco, o que raramente foi realizado na maioria das publicações de estudos anteriores Palavras-chave: risco fintech; continuar a usar; geração Z

• Referencias bibliográficas
  • Abramova, S., & Böhme, R. (2016). Perceived benefit and risk as multidimensional determinants of Bitcoin use: A quantitative exploratory...
  • Accenture. (2017). Global Consumer Shopping Survey 2017. https://www.accenture.com/t20170210t012359__w__/us-en/_acnmedia/pdf-44/accenture-retail-customer-journey-research-2017-infographic.pdf
  • Ajzen, I., & Fishbein, M. (1977). Attitude-behavior relations: A theoretical analysis and review of empirical research. Psychological...
  • Arner, D. W., Barberis, J. N., & Buckley, R. P. (2015). The Evolution of Fintech: A New Post-Crisis Paradigm? SSRN Electronic Journal....
  • Barakat, A., & Hussainey, K. (2013). Bank governance, regulation, supervision, and risk reporting: Evidence from operational risk disclosures...
  • Barberis, J. (2014). The rise of FinTech: Getting Hong Kong to lead the digital financial transition in APAC. Fintech Report. Fintech HK.
  • Benlian, A., & Hess, T. (2011). Opportunities and risks of software-as-a-service: Findings from a survey of IT executives. Decision Support...
  • Cheng, T. C. E., Lam, D. Y. C., & Yeung, A. C. L. (2006). Adoption of internet banking: An empirical study in Hong Kong. Decision Support...
  • Chin, W. W. (1998a). Commentary: Issues and Opinion on Structural Equation Modeling. MIS Quarterly, 22(1), vii-xvi.
  • Chin, W. W. (1998b). The Partial Least Squares Approach to Structural Equation Modeling. In G. A. Marcoulides (Ed.), Modern Methods for Business...
  • Chin, W. W., & Newsted, P. R. (1999). Structural Equation Modeling Analysis with Small Samples Using Partial Least Square. In R. H. Hoyle...
  • Cobanoglu, C., & Cobanoglu, N. (2003). The effect of incentives in web surveys: application and ethical considerations. International...
  • Cohen, J. (1988). Statistical Power Analysis for the Behavioral Sciences Lawrence Erlbaum.
  • Cunningham, S. M. (1967). The major dimensions of perceived risk. In D. F. Cox (Ed.), Risk Taking and Information Handling in Consumer Behavior...
  • Darmiasih, M., & Setiawan, P. Y. (2020). Continuance usage intention and its antecedents on using OVO e-wallet application in Denpasar....
  • Dijkstra, T. K., & Henseler, J. (2015). Consistent Partial Least Squares Path Modeling. MIS Quarterly, 39(2), 297-316.
  • Erdfelder, E., Faul, F., & Buchner, A. (1996). GPOWER: A general power analysis program. Behavior Research Methods, Instruments, &...
  • Farivar, S., & Yuan, Y. (2014). The Dual Perspective of Social Commerce Adoption SIGHCI 2014 http://aisel.aisnet.org/sighci2014/18
  • Faul, F., Erdfelder, E., Buchner, A., & Lang, A.-G. (2007). G*Power 3: A flexible statistical power analysis program for the social, behavioral,...
  • Faul, F., Erdfelder, E., Buchner, A., & Lang, A.-G. (2009). Statistical power analyses using G*Power 3.1: tests for correlation and regression...
  • Featherman, M. S., & Pavlou, P. A. (2003). Predicting e-services adoption: a perceived risk facets perspective. International Journal...
  • Forsythe, S., Liu, C., Shannon, D., & Gardner, L. C. (2006). Development of a scale to measure the perceived benefits and risks of online...
  • Freedman, R. S. (2006). Introduction to Financial Technology. Academic Press.
  • Gefen, D., Straub, D. W., & Boudreau, M.-C. (2000). Structural Equation Modeling Techniques and Regression: Guidelines For Research Practice....
  • Gomber, P., Koch, J.-A., & Siering, M. (2017). Digital Finance and FinTech: current research and future research directions. Journal of...
  • Grail Research. (2011). Consumers of Tomorrow Insights and Observations About Generation Z. https://www.scribd.com/document/189205354/Consumers-of-Tomorrow-Insights-and-Observations-About-Generation-Z
  • Hair, J. F. J., Anderson, R. E., Tatham, R. L., & Black, W. C. (1995). Multivariate Data Analysis With Reading. Prentice-Hall International.
  • Hair, J. F. J., Huflt, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A Primer on Partial Least Squares Structural Equation Modeling...
  • Hair, J. F. J., Huflt, G. T. M., Ringle, C. M., & Sarstedt, M. (2017). A Primer on Partial Least Squares Structural Equation Modeling...
  • Hartono, J. M., & Abdillah, W. (2009). Konsep & Aplikasi PLS (Partial Least Square) Untuk Penelitian Empiris. BPFE UGM.
  • Henseler, J., Ringle, C. M., & Sarstedt, M. (2014). A new criterion for assessing discriminant validity in variance-based structural equation...
  • Ho, V. T., Ang, S., & Straub, D. (2003). When Subordinates Become IT Contractors: Persistent Managerial Expectations in IT Outsourcing....
  • Hulland, J. (1999). Use of partial least squares (PLS) in strategic management research: a review of four recent studies. Strategic Management...
  • Hussey, J., & Hussey, R. (1997). Business Research: A Practical Guide for Undergraduate and Postgraduate Students. Macmillan.
  • Hwang, R.-J., Shiau, S.-H., & Jan, D.-F. (2007). A new mobile payment scheme for roaming services. Electronic Commerce Research and Applications,...
  • Ilieva, J., Baron, S., & Healey, N. M. (2018). Online Surveys in Marketing Research. International Journal of Market Research, 44(3),...
  • Jurison, J. (1995). The role of risk and return in information technology outsourcing decisions. Journal of Information Technology, 10(4),...
  • Kerem, K., Lustsik, O., Sorg, M., & Vensel, V. (2013, March 11–17). The development of e banking in an EU candidate country: An Estonian...
  • Kim, A., McInerney, P., Smith, T. R., & Yamakawa, N. (2020). What makes Asia–Pacific’s Generation Z different? M. Company.
  • Kim, D. J., Ferrin, D. L., & Rao, H. R. (2008). A trust-based consumer decision-making model in electronic commerce: The role of trust,...
  • Kinnear, T. C., & Taylor, J. R. (1987). Marketing Research: An Applied Approach (Vol. 3). McGraw-Hill.
  • Kustono, A. S. (2008). Motivasi Perataan Penghasilan. Jurnal Riset akuntansi Indonesia, 11(2), 133-157.
  • Lee, D. K. C., & Teo, E. G. S. (2015). Emergence of Fintech and the Lasic Principles. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2668049
  • Lee, H., Park, H., & Kim, J. (2013). Why do people share their context information on Social Network Services? A qualitative study and...
  • Lee, M.-C. (2009). Factors influencing the adoption of internet banking: An integration of TAM and TPB with perceived risk and perceived benefit....
  • Lee, T.-h., & Kim, H.-W. (2015, August 7-8). An Exploratory Study on Fintech Industry in Korea: Crowdfunding Case 2nd International conference...
  • Leon, F. M., & Diana, N. (2020). Factors Affecting Continuance Intention of FinTech Payment among Millennials in Jakarta. European Journal...
  • Leong, K. (2018). FinTech (Financial Technology): What is It and How to Use Technologies to Create Business Value in Fintech Way? International...
  • Li, Y., Spigt, R., & Swinkels, L. (2017). The impact of FinTech start-ups on incumbent retail banks’ share prices. Financial Innovation,...
  • Lim, N. (2003). Consumers’ perceived risk: sources versus consequences. Electronic Commerce Research and Applications, 2(3), 216-228. https://doi.org/10.1016/s1567-4223(03)00025-5
  • Liu, T. M., Melewar, T. C., Brock, J. L., Cheng Shi, G., Chu, R., & Tseng, T. H. (2013). Perceived benefits, perceived risk, and trust:...
  • Liu, Y., Yang, Y., & Li, H. (2012). A Unified risk-benefit analysis framework for investigating mobile payment adoption. International...
  • Lwin, M., Wirtz, J., & Williams, J. D. (2007). Consumer online privacy concerns and responses: a power–responsibility equilibrium perspective....
  • Mascarenhas, A., Perpétuo, C., Barrote, E., & Perides, M. (2021). The Influence of Perceptions of Risks and Benefits on the Continuity...
  • Mathur, N., Mathur, H., & Pandya, T. (2015). Risk Management in Information System of Organisation : A Conceptual Framework. International...
  • Mitchell, V. W. (1999). Consumer perceived risk: conceptualisations and models. European Journal of Marketing, 33(1/2), 163-195. https://doi.org/10.1108/03090569910249229
  • Mohr, K. A. J., & Mohr, E. S. (2017). Understanding Generation Z Students to Promote a Contemporary Learning Environment. Journal on Empowering...
  • Mowery, D. C., & Simcoe, T. (2002). Is the Internet a US invention? -an economic and technological history of computer networking. Research...
  • Naughton, J. (2016). The evolution of the Internet: from military experiment to General Purpose Technology. Journal of Cyber Policy, 1(1),...
  • Nugroho, M. A. (2015). Impact of Government Support and Competitor Pressure on the Readiness of SMEs in Indonesia in Adopting the Information...
  • Nugroho, M. A., Dewanti, P. W., & Novitasari, B. T. (2018). The Impact of Perceived Usefulness and Perceived Ease of Use on Student’s...
  • Nugroho, M. A., & Fajar, M. A. (2017). Effects of Technology Readiness Towards Acceptance of Mandatory Web-Based Attendance System. Procedia...
  • Nugroho, M. A., Jusoh, R., & Salleh, N. A. M. (2020). The Role of Alignment Between IS Strategy and Social Capital on the IS Capability...
  • Nugroho, M. A., Rahmawati, D., & Novitasari, B. T. (2019). The influence of website quality on e-learning usage continuity. Journal of...
  • Oblinger, D., & Oblinger, J. (2005). Is It Age or IT: First Steps Toward Understanding the Net Generation. In D. G. Oblinger & J....
  • OJK. (2019, 30 Oktober 2019). Penyelenggara Fintech Terdaftar dan Berizin di OJK per 30 Oktober 2019. Otoritas Jasa Keuangan. Retrieved 12...
  • Palley, W. (2012). Gen Z: Digital in their DNA. http://icabrasil.org/2016/files/557-corporateTwo/downloads/F_INTERNAL_Gen_Z_0418122.pdf
  • Prensky, M. (2001). Digital Natives, Digital Immigrants Part 1. On the Horizon, 9(5), 1-6. https://doi.org/10.1108/10748120110424816
  • Putritama, A. (2019). The Mobile Payment Fintech Continuance Usage Intention in Indonesia. Jurnal Economia, , 15(2), 243-258.
  • Ringle, C. M., Wende, S., & Becker, J.-M. (2015). SmartPLS 3. In (Version 3.2.7) SmartPLS GmbH. http://www.smartpls.com.
  • Ryu, H.-S. (2018). What makes users willing or hesitant to use Fintech?: the moderating effect of user type. Industrial Management & Data...
  • Schierz, P. G., Schilke, O., & Wirtz, B. W. (2010). Understanding consumer acceptance of mobile payment services: An empirical analysis....
  • Sitinjak, E. L. M. (2019). Pola Strategi Investasi Investor Individu Saham Menurut Generasi X, Y, Dan Z. Jurnal Pasar Modal dan Bisnis, 1(1),...
  • Skan, J., Dickerson, J., & Masood, S. (2015). The Future of Fintech and Banking: Digitally disrupted or reimagined? https://www.accenture.com/_acnmedia/accenture/conversion-assets/dotcom/documents/global/pdf/dualpub_11/accenture-future-fintech-banking.pdf
  • Surbakti, I. M., & Savitridina, R. (2015). Profil Penduduk Indonesia Hasil Supas 2015. Badan Pusat Statistik.
  • Sweeney, D. (2015). What is FinTech and What Does it Mean for Small Businesses? Retrieved 13 November from https://www.business.com/articles/what-is-fintech-and-what-does-it-mean-for-small-businesses/
  • Temme, D., Kreis, H., & Hildebrandt, L. (2006). PLS Path Modeling – A Software Review http://sfb649.wiwi.hu-berlin.de/papers/pdf/SFB649DP2006-084.pdf
  • Teo, T., Lee, C. B., & Chai, C. S. (2007). Understanding pre-service teachers' computer attitudes: applying and extending the technology...
  • Thakur, R., & Srivastava, M. (2014). Adoption readiness, personal innovativeness, perceived risk and usage intention across customer groups...
  • Vision Critical. (2016). The Everything Guide to Generation Z. https://www.visioncritical.com/resources/the-everything-guide-to-gen-z
  • Vu, P. H., & Hoffman, J. (2011). Using Online Surveys in Vietnam An Exploratory Study. International Journal of Market Research, 53(1),...
  • Wilson, B., & Henseler, J. (2007). Modeling reflective higher-order constructs using three approaches with PLS path modeling: a Monte...
  • Zavolokina, L., Dolata, M., & Schwabe, G. (2017). FinTech Transformation: How IT-Enabled Innovations Shape the Financial Sector. In Enterprise...