Digital Transformation in the Financial Sector: Implications for Consumer Trust and Security

Authors

  • Andri Prabu Universitas Indonesia
  • Siti Nurhaliza Universitas Indonesia

DOI:

https://doi.org/10.62951/ijecm.v1i1.303

Keywords:

Digital transformation, financial sector, consumer trust, data security, fintech, cybersecurity, regulatory framework

Abstract

The financial sector is undergoing rapid digital transformation, driven by innovations in digital banking, fintech, and AI-driven solutions. This transformation has significant implications for consumer trust and data security. This paper explores the impact of these technological advancements on customer confidence in financial institutions, especially in light of recent data breaches and cybersecurity threats. By analyzing regulatory responses and cybersecurity frameworks, the study emphasizes the critical need for robust protections to build and maintain consumer trust in digital finance. Findings indicate that enhanced security measures and regulatory oversight are essential in safeguarding data and supporting the sustainable growth of digital finance.

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References

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Published

2023-01-30

How to Cite

Andri Prabu, & Siti Nurhaliza. (2023). Digital Transformation in the Financial Sector: Implications for Consumer Trust and Security. International Journal of Economics, Commerce, and Management, 1(1), 10–14. https://doi.org/10.62951/ijecm.v1i1.303