: 10.56472/25835238/IRJEMS-V4I11P114
Foza Hadyu Hasanatina, Bimo Suryo Wicaksono. "The Impact of Open Banking on Financial Market Dynamics and Consumer Welfare in Indonesia: A Systematic Literature Review" International Research Journal of Economics and Management Studies, Vol. 4, No. 11, pp. 101-108, 2025. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V4I11P114
This study is a Systematic Literature Review (SLR) concerning the impact of Open Banking (OB) in Indonesia. OB promotes financial inclusion and competition via APIs with Third-Party Providers (TPPs). The SLR finds that OB acts as a catalyst for increased Venture Capital (VC) investments in the FinTech sector, which drives market dynamism and financial inclusion in emerging markets. Successful OB implementation in Indonesia necessitates the establishment of high-quality API standards. Crucial post-adoption factors are User-Centric Design (usability) and addressing security concerns, specifically the emotion of fear. The SLR methodology employs Thematic Synthesis and Structural Topic Modelling (STM) for customer satisfaction analysis.
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Open Banking, Indonesia, Financial Inclusion, Fintech Entry, Customer Satisfaction.