Factors determining behavioral intentions to use Islamic financial technology
Purpose This paper aims to provide an improved understanding of the influential factors on behavioral intentions towards Islamic financial technology usage in Indonesia, for all types of financial technology services including payment, peer to peer lending and crowdfunding both simultaneously and partial for each service to enhance the financial inclusion. Design/Methodology/Approach This study adopted structural equation modelling using the partial least squares approach to test the hypotheses. The questionnaire was distributed through an online survey and collected 1,262 responses based on the purposive sampling technique. Findings The results demonstrate that the latent variables; planned behavior, acceptance model and use of technology have a significant impact on encouraging behavioral intentions to use Islamic financial technology. The acceptance model is the most significant factor. Research limitations/implications This study is conducted in Indonesia, therefore, the results cannot be generalized to other countries. However, this paper provides important strategic guidelines for policy makers in designing a framework to enhance the development of Islamic financial technology and to achieve financial inclusion. It is suggested that future studies includes samples from financial technology users in different countries. Originality/value This study adds to the literature especially on the factors affecting behavioral intentions to use Islamic financial technology. There are limited studies concerning to this topic, especially for Indonesia. The unique feature of this study is the use of a large primary dataset that covers most provinces in Indonesia. Furthermore, this study focusing on three types of Islamic financial technology: payment, peer to peer lending and crowdfunding. JEL Codes: G23, G41