Risk Management Analysis in Fintech Companies in Indonesia to Improve User Security and Trust
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The development of financial technology (fintech) in Indonesia has driven significant transformation in the digital-based financial services system. However, this rapid growth is also accompanied by the emergence of various risks, such as operational risks, data security risks, compliance risks, and technological risks that can impact company stability and user trust. Therefore, the implementation of comprehensive risk management is a strategic necessity for the fintech industry. This study aims to analyze the implementation of risk management in several fintech companies in Indonesia, focusing on risk identification, risk assessment, mitigation strategies, and the effectiveness of internal controls. The method used is a qualitative approach through literature studies, document observation, and interviews with parties involved in the risk management process. The results indicate that the success of risk management is influenced by the quality of corporate governance, technological infrastructure readiness, compliance with regulations from the Financial Services Authority (OJK), and company awareness of the urgency of consumer data protection. The study's findings underscore the importance of integrating advanced security technologies, strengthening internal regulations, and user education to minimize potential risks. With the implementation of appropriate risk management, fintech companies can not only improve service security but also strengthen user trust and promote the sustainability of the fintech industry in Indonesia.
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