{"id":"https://openalex.org/W7225614747","doi":"https://doi.org/10.65638/2978-8196.2026.2.06","title":"A Comparative Analysis of the Fintech Industry and Regulatory Frameworks in Indonesia and Malaysia","display_name":"A Comparative Analysis of the Fintech Industry and Regulatory Frameworks in Indonesia and Malaysia","publication_year":2026,"publication_date":"2026-11-09","ids":{"openalex":"https://openalex.org/W7225614747","doi":"https://doi.org/10.65638/2978-8196.2026.2.06"},"language":"en","primary_location":{"id":"doi:10.65638/2978-8196.2026.2.06","doi":"https://doi.org/10.65638/2978-8196.2026.2.06","is_oa":true,"landing_page_url":"https://doi.org/10.65638/2978-8196.2026.2.06","pdf_url":"https://iifssystem.com/index.php/iifss/article/download/33/18","source":{"id":"https://openalex.org/S5407054862","display_name":"Journal of Integrated Socio-Economic Systems and Islamic Finance","issn_l":"2978-8196","issn":["2978-8196"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Integrated Socio-Economic Systems and Islamic Finance","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://iifssystem.com/index.php/iifss/article/download/33/18","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5081297365","display_name":"Rafisah Mat Radzi","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I139322472","display_name":"Universiti Sains Malaysia","ror":"https://ror.org/02rgb2k63","country_code":"MY","type":"education","lineage":["https://openalex.org/I139322472"]}],"countries":["MY"],"is_corresponding":true,"raw_author_name":"Rafisah Mat Radzi","raw_affiliation_strings":["School of Distance Education, University Sains Malaysia (USM), Penang, Malaysia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Distance Education, University Sains Malaysia (USM), Penang, Malaysia","institution_ids":["https://openalex.org/I139322472"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5081297365"],"corresponding_institution_ids":["https://openalex.org/I139322472"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"2","issue":null,"first_page":"61","last_page":"75"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13346","display_name":"Digital Transformation in Financial Services","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/fintech","display_name":"fintech","score":0.7110000252723694},{"id":"https://openalex.org/keywords/financial-regulation","display_name":"financial regulation","score":0.6790000200271606},{"id":"https://openalex.org/keywords/electronic-payments","display_name":"digital payments","score":0.9070000052452087},{"id":"https://openalex.org/keywords/islamic-fintech","display_name":"Islamic fintech","score":0.7950000166893005},{"id":"https://openalex.org/keywords/financial-inclusion","display_name":"financial inclusion","score":0.6110000014305115},{"id":"https://openalex.org/keywords/fintech-ecosystem","display_name":"fintech ecosystem","score":0.6600000262260437},{"id":"https://openalex.org/keywords/indonesia","display_name":"Indonesia","score":0.5210000276565552},{"id":"https://openalex.org/keywords/malaysia","display_name":"Malaysia","score":0.9990000128746033},{"id":"https://openalex.org/keywords/regulatory-framework","display_name":"regulatory framework","score":0.6589999794960022},{"id":"https://openalex.org/keywords/payment-methods","display_name":"payment methods","score":0.6909999847412109}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6967999935150146},{"id":"https://openalex.org/C540431452","wikidata":"https://www.wikidata.org/wiki/Q16319025","display_name":"FinTech","level":3,"score":0.6870999932289124},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.6067000031471252},{"id":"https://openalex.org/C139043278","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial services","level":2,"score":0.5368000268936157},{"id":"https://openalex.org/C185822510","wikidata":"https://www.wikidata.org/wiki/Q1956140","display_name":"Payment service provider","level":3,"score":0.42989999055862427},{"id":"https://openalex.org/C2986226071","wikidata":"https://www.wikidata.org/wiki/Q22687","display_name":"Banking industry","level":2,"score":0.3725000023841858},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.35670000314712524},{"id":"https://openalex.org/C2779207338","wikidata":"https://www.wikidata.org/wiki/Q9240","display_name":"Indonesian","level":2,"score":0.351500004529953},{"id":"https://openalex.org/C2779251847","wikidata":"https://www.wikidata.org/wiki/Q60852","display_name":"Financial inclusion","level":3,"score":0.33090001344680786},{"id":"https://openalex.org/C26517878","wikidata":"https://www.wikidata.org/wiki/Q228039","display_name":"Key (lock)","level":2,"score":0.3111000061035156},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.3070000112056732},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.302700012922287},{"id":"https://openalex.org/C2777064627","wikidata":"https://www.wikidata.org/wiki/Q3151423","display_name":"Financial innovation","level":2,"score":0.28839999437332153},{"id":"https://openalex.org/C510755694","wikidata":"https://www.wikidata.org/wiki/Q281095","display_name":"Financial regulation","level":2,"score":0.2849000096321106},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.2678000032901764},{"id":"https://openalex.org/C76474335","wikidata":"https://www.wikidata.org/wiki/Q215551","display_name":"Comparative advantage","level":2,"score":0.2563000023365021}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.65638/2978-8196.2026.2.06","doi":"https://doi.org/10.65638/2978-8196.2026.2.06","is_oa":true,"landing_page_url":"https://doi.org/10.65638/2978-8196.2026.2.06","pdf_url":"https://iifssystem.com/index.php/iifss/article/download/33/18","source":{"id":"https://openalex.org/S5407054862","display_name":"Journal of Integrated Socio-Economic Systems and Islamic Finance","issn_l":"2978-8196","issn":["2978-8196"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Integrated Socio-Economic Systems and Islamic Finance","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.65638/2978-8196.2026.2.06","doi":"https://doi.org/10.65638/2978-8196.2026.2.06","is_oa":true,"landing_page_url":"https://doi.org/10.65638/2978-8196.2026.2.06","pdf_url":"https://iifssystem.com/index.php/iifss/article/download/33/18","source":{"id":"https://openalex.org/S5407054862","display_name":"Journal of Integrated Socio-Economic Systems and Islamic Finance","issn_l":"2978-8196","issn":["2978-8196"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Integrated Socio-Economic Systems and Islamic Finance","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/9","score":0.7207000255584717,"display_name":"Industry, innovation and infrastructure"},{"id":"https://metadata.un.org/sdg/16","score":0.47099998593330383,"display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7225614747.pdf","grobid_xml":"https://content.openalex.org/works/W7225614747.grobid-xml"},"referenced_works_count":9,"referenced_works":["https://openalex.org/W1983981789","https://openalex.org/W2964523010","https://openalex.org/W3127021864","https://openalex.org/W3174256007","https://openalex.org/W4210621565","https://openalex.org/W4307356704","https://openalex.org/W4404874313","https://openalex.org/W4409621276","https://openalex.org/W4412411919"],"related_works":["https://openalex.org/W7220245399","https://openalex.org/W4410514825","https://openalex.org/W3174256007","https://openalex.org/W7165148576","https://openalex.org/W7220180358","https://openalex.org/W7128823918","https://openalex.org/W7131359730","https://openalex.org/W7210278705","https://openalex.org/W4417101945","https://openalex.org/W4414677876"],"abstract_inverted_index":{"The":[0,130],"rapid":[1],"growth":[2],"of":[3,56,63,75,103],"financial":[4,14,32],"technology":[5],"(fintech),":[6],"particularly":[7],"in":[8,27,58],"digital":[9,84],"payment":[10,85,88],"services,":[11],"has":[12],"revolutionized":[13],"transactions":[15],"worldwide.":[16],"Across":[17],"Asia,":[18],"Malaysia":[19,76],"and":[20,36,50,66,77,90,106,127,139,142,149],"Indonesia":[21],"have":[22],"emerged":[23],"as":[24,134],"key":[25],"players":[26],"harnessing":[28],"fintech":[29,73,125,151],"to":[30,122,146],"enhance":[31,123],"inclusion,":[33],"improve":[34],"efficiency,":[35],"modernize":[37],"their":[38,59,83,124],"economies.":[39],"Although":[40],"they":[41],"share":[42],"these":[43],"objectives,":[44],"the":[45,72],"two":[46],"countries\u2019":[47],"development":[48],"trajectories":[49],"regulatory":[51,67,91,107,128,156],"frameworks":[52,94],"differ":[53],"substantially":[54],"because":[55],"variations":[57],"economic":[60],"structures,":[61],"levels":[62],"technological":[64],"adoption,":[65],"practices.":[68],"This":[69],"study":[70],"examines":[71],"industries":[74],"Indonesia,":[78],"with":[79],"particular":[80],"emphasis":[81],"on":[82,99],"ecosystems,":[86],"prevalent":[87],"methods,":[89],"approaches,":[92],"including":[93],"for":[95,137],"Islamic":[96],"fintech.":[97],"Drawing":[98],"an":[100],"extensive":[101],"review":[102],"academic":[104],"literature":[105],"policies,":[108],"this":[109],"comparative":[110],"analysis":[111],"provides":[112],"insights":[113],"into":[114],"strategic":[115],"decisions":[116],"that":[117],"both":[118],"countries":[119],"could":[120],"consider":[121],"ecosystems":[126,152],"frameworks.":[129,157],"findings":[131],"may":[132],"serve":[133],"a":[135],"guide":[136],"Indonesian":[138],"Malaysian":[140],"policymakers":[141],"industry":[143],"stakeholders":[144],"seeking":[145],"establish":[147],"resilient":[148],"inclusive":[150],"supported":[153],"by":[154],"robust":[155]},"counts_by_year":[],"updated_date":"2026-11-11T12:16:26.678958","created_date":"2026-11-10T00:00:00"}