Analysis of Factors That Influence Data Security and Privacy Towards the Intention to Engage with Digital Banking in Indonesia

Technology is advancing in a fast rate, as this is also the case in developing countries such as Indonesia. The rise of technology resulted in the advancement of online platforms, including Financial Technologies (Fintech). One specific area of Fintech is the emergence of digital banks. These banks offer easy accessibility and promise better security. However, it is also prevalent that cyber-attack numbers are also going up. While companies and regulators have the means to promise security to end-users, cyber criminals could always come up with new methods of crime in the cyberspace. This threat is present towards all digital services, including digital banks. This research aims to find out what are the factors that influence privacy and security and its relationship towards the intention to engage with digital banking. The research found that trust is an important aspect of security and intention to engage. Additionally, this research also found evidence that certain demographic categories may have a moderating impact on the constructs in this research.