Competition In Banking Financial Technology : Perspective Demand Side
Isfenti Sadalia (1*), Fahmi Natigor Nasution (2), Amrin Fauzi (3)
1,2,3) Department of Magister Management, Universitas Sumatera Utara, Jalan Sivitas Akademika, Medan 20155, Indonesia
*isfentisadalia[at]gmail.com
Abstract
Entering that revolution 4.0 financial industry must be able to implement several digital-based technologies including block chains, big files and robo advisers. Likewise in the trade sector where consumer payment instruments need to be more advanced such as online crowd funding and peer to peer payments. Disruptive innovation can help create new markets which eventually replace the previous technology. Companies must compete to provide a variety of innovative business model development technologies to exploit old technology in a new, better approach. Dynamic financial technology must be able to innovate that focuses on technology in marketing each of its products. This study uses quantitative methods with a sample of 200 conventional and sharia customers. The data that has been obtained is then processed using the WarpPLS software. Therefore, this study concludes that to improve product marketing in the financial sector, companies must consider the existence of disruptive innovation and financial technology for corporate progress. It is hoped that the implications of this research can improve customer service satisfaction in the banking sector.
Keywords: Financial Technology, Disruptive Innovation, Business Model Factors, Banking
Topic: Finance