The purpose of this study is to analyze the potential of Crowdfunding and Peer-to-Peer Lending Financial Technology (FinTech) Sharia to reach the non-banking financing. There are four Crowdfunding and Peer-to-Peer Lending FinTech Sharia operators in Indonesia used as the sample. The data used in this study was obtained from direct interview with the FinTech operators and literature study of similar subject. The analysis method used in this study is SWOT analysis. The results of the study which used SWOT analysis model found that the Crowdfunding and Peer-to-Peer Lending FinTech Sharia are not a threat to existing Sharia financial institutions and can also increase the penetration of sharia financial industry in Indonesia because they offer cost efficiency, ease of access, speed of financing distribution, and the low rate of non-performing financing. However, there are still small quantity of FinTech Sharia registered at OJK, no specific regulation for FinTech Sharia and no Sharia Supervision Board in many FinTech Sharia can be obstacles for FinTech Sharia operators


Crowdfunding, Financial Inclusion, Fintech Sharia, Peer-to-Peer Lending


Abdullah, S., & Oseni, U. A. (2017). Towards a Shari’ah Compliant Equity-Based Crowdfunding for the Halal Industry in Malaysia. International Journal of Business and Society, 18(1), 223-240.

Achsien, I. H., & Purnamasari, D.L. (2016). Islamic Crowd-Funding as the Next Financial Innovation in Islamic Finance: Potential and Anticipated Regulation in Indonesia. Eutropean Journal of Islamic Finance, 5, 1-11.

Asaba, S., Aiba, K., Hirano, M. (2016). The Potential of Fintech Industry to Support the Growth of SMEs in Indonesia. Japan: Waseda University.

Bank Indonesia. (2017). Peraturan Bank Indonesia Nomor 19/12/PBI/2017. Retrieved from http://www.bi.go.id/id/peraturan/moneter/Documents/PBI_190217.pdf

Bank Indonesia. (2014). Booklet Keuangan Inklusif. Departemen Pengembangan Akses Keuangan dan UMKM.

Bower, J. & Christensen, C. M. (1995). Disruptive Technologies: Catching the Wave. Harvard Business Review.

Dz, A. S. (2018). Inklusi Keuangan Perbankan Syariah Berbasis Digital-Banking: Optimalisasi Tantangan. Al-Amwal, 10(1), 63-80.

Otoritas Jasa Keuangan. (2018). Perusahaan Fintech yang Terdaftar di OJK Per Januari 2018. Retreived from https://www.ojk.go.id.

Otoritas Jasa Keuangan. (2018). Ikhtisar Data Keuangan Fintech (P2P Lending) Periode Mei 2018.

Riyadi. (2017). Manajemen Perbankan Indonesia (Teori, Praktik dan Studi Kasus). Jakarta: RajaGrafindo Persada.

Schueffel, P. (2018). Taming the Beast: A Scientific Definition of Fintech. SSRN Electronic Journal, 1-24.

Sukma, D. (2016). Fintechfest, Mempopulerkan Teknologi Finansial di Indonesia. Arena LTE.

DOI: http://dx.doi.org/10.15548/al-masraf.v4i2.264


  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.


View My Stats