REVIEW ON THE APPLICATION OF OPEN BANKING IN SHARIA BANKING: AN SWOT ANALYSIS

Authors

  • Egha Ezar Junaeka Putra Hassany Islamic State University of Sunan Kalijaga
  • Galuh Tri Pambekti Islamic State University of Sunan Kalijaga

DOI:

https://doi.org/10.29103/el-amwal.v5i1.6676

Keywords:

Information Systems, Islamic Banking, Open Banking, and SWOT Analysis

Abstract

This study was conducted to analyze SWOT (Strength, Weakness Opportunity, and Threat) Open Banking in Islamic banking in Indonesia. The analytical method used is descriptive literature research, namely by providing a description or description of the problems that have been identified and carried out intensively and in detail on a problem from the available literature. The results of this study indicate that there are several strategies that can be taken by Islamic Banking in dealing with Open Banking, including the S-O strategy: cooperation with fintech and e-commerce; and expand the network of cooperation nationally and internationally; W-O strategy: socializing open banking, improving technology and security, and increasing service complaints; S-T strategy: cooperate with other financial institutions, implement standardization prepared by the regulator; and W-O Strategy: multiple security enhancements, sorting out cooperation to third parties, and upgrading Islamic banking internal servers.

References

Acar, O., & Çitak, Y. E. (2019). Fintech Integration Process Suggestion for Banks. Procedia Computer Science, 158, 971-978. https://doi.org/10.1016/j.procs.2019.09.138

Adinegoro, A., & Winengko, M. (2020). To Close or Not to Close : Assessing the Impact of Open API to the Bank Performance in Indonesia. 2(1), 91-113.

Boateng, K., & Nagaraju, Y. (2020). The impact of digital banking on the profitability of deposit money banks: Evidence from Ghana. International Journal of Research in Finance and Managemen, January.

https://www.researchgate.net/publication/342551616_The_impact_of_digital_banking_on_the_profitability_of_deposit_money_banks_Evidence_from_Ghana

Citta, A. B., Dekrita, Y. A., Yunus, R., Ridha, A., & Hartina. (2019). SWOT Analysis of Financial Technology in the Banking Industry of South Sulawesi: Banking Survey in South Sulawesi. January. https://doi.org/10.2991/icame-18.2019.13

Freddy Rangkuti. (1997). Riset Pemasaran. PT. Gramedia Pustaka Utama.

Goleman, daniel; boyatzis, Richard; Mckee, A., & Perdana. (2018). Blueprint Sisitem Pembayaran Indonesia 2025. Bank Indonesia: Menavigasi Sistem Pembayaran Nasional di Era Digital. Journal of Chemical Information and Modeling, 53(9), 1689-1699.

Gozman, D., Hedman, J., & Sylvest, K. (2018). Open Banking : Emergent Roles , Risks &. ECIS 2018 Proceedings.

IBS Intelligence, & ERI. (2018). Building Transparency with API / Open Banking. 10.

Kotler, P., & Armstrong, G. (2008). prinsip-Prinsip Pemasaran (Jilid 1). Erlangga.

Mohammed, B. (2019). Api Application Programming Interface Banking: A Promising Future For Financial Institutions (International Experience). Revue Des Sciences Commerciales, 18(2), 31-43. https://www.researchgate.net/publication/342349960

Nsour, B., Shobaki, Z., & Alizoubidi, M. (2019). The Effect of Information Systems on Bank Performance: A comparative study between Islamic and Commercial Banks in Jordan. Journal of Social Sciences (COES&RJ-JSS), 8(3), 526-543. https://doi.org/10.25255/jss.2019.8.3.526.543

Open Banking UK. (2019). Background to Open Banking. 17. https://www.openbanking.org.uk/wp-content/uploads/What-Is-Open-Banking-Guide.pdf

Paymentsforum.uk. (2015). The Open Banking Standard. 11. https://www.paymentsforum.uk/sites/default/files/documents/Background Document No. 2 - The Open Banking Standard - Full Report.pdf

Pearce, & Robinson. (1997). Manajemen Strategik: Formulasi, Ompelemtasi, dan Pengendalian. Binarupa Aksara.

Wijaya, K. (2019). SELAMAT DATANG ERA OPEN BANKING. https://doi.org/Infobank Edisi Oktober

Downloads

Published

2022-04-01

Issue

Vol. 5 No. 1 (2022): El-Amwal

Section

Artikel

License

Authors retain copyright and grant the journal right of first publication and this work is licensed under a Creative Commons Attribution-ShareAlike 4.0 that allows others to share the work with an acknowledgement of the works authorship and initial publication in this journal.

All articles in this journal may be disseminated by listing valid sources and the title of the article should not be omitted. The content of the article is liable to the author.

Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.

Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.

In the dissemination of articles by the author must declare the el-Amwal Jurnal as the first party to publish the article.