Factors Determining Adoption of Fintech Peer-to-Peer Lending Platform: An Empirical Study in Indonesia

Platform lending or online lending, sometimes called peer-to-peer (P2P) lending, arose due to the digital revolution to meet people's requirements for simple fund bon owing. It quickly became an alternative to other traditional lending techniques, for example, loans Along with the growth of P2P lending, several academics have investigated how information technology is used in financial services, emphasizing extended application methods. This study proposes an enhanced technology acceptance model (TAM) that investigates how consumers embrace P2P lending platforms by using quality of service and perceived risk as drivers of trust, relative advantage and compatibility as drivers of perceived usefulness. For the purpose of this study, we created a questionnaire, distributed it to clients of P2P lending platforms and fintech services in general in cities in Java, Indonesia. We received 290 replies to our questionnaire. The data was analyzed to test the hypotheses using structural equation modeling (SEM). The findings show that consumers' trust, relative advantage, perceived usefulness, and perceived ease of use in P2P lending platforms substantially affect their views toward adoption. The research's findings are useful for fine-tuning platforms marketing strategies and putting strategic goals into action.