Investigating the role of Financial Technology on the Performance of Islamic Financial Institutions
DOI:
https://doi.org/10.56976/rjsi.v4i1.37Abstract
The purpose of this research is to investigate the significant part that Financial Innovation (FI) plays in maintaining the stability of Islamic financial institutions. The research philosophy of interpretivism serves as the basis for this body of work. To acquire information, interviews were conducted with various people. The method of purposive sampling was used by the researchers, and the samples were selected with the purpose of the study in mind. As a direct consequence of this, 10 industry professionals agreed to be interviewed for this research. In addition to having a thorough understanding of the fundamentals of Islamic financial innovation, these professionals have worked in the industry for a minimum of five years, making them exceptionally qualified. The researchers used the analytic software known as N-Vivo to do data analysis and interpretation. According to the results, the function of financial innovation in the present environment is crucial, and it has become a lifeline for Islamic financial institutions. In addition, the results of NVivo indicated that financial innovation in IFIs plays significant roles in the areas of digitalization, financial technology, financial inclusion, religiosity, as well as consumer and market acceptability
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