Beneficial financial technology services at private high schools based on Modern Islamic Boarding Schools in Indonesia

Haudh Al Maa’uun, Hisyam Badarrudin Nugroho, Fathi Rafie Abqorri, Adinda Zahra Raisya Kamila, Rizka Maulida, Arif Rahmansyah Huluq & Rasya Naufal Azri

Volume 1 Issue 1

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Presented in 1st International Student Research Congress 2024, January 19, 2024

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Abstract

The development of Islamic boarding schools in Indonesia has been very rapid in the last 20 years, marked by improvements in management and public trust. The advantages of modern Islamic boarding schools are infrastructure, management, networks, and human resources. High school-age students are categorized as knowing what is needed and the benefits for themselves. This research aims to determine the benefits high school students receive from applying financial technology in modern Islamic boarding schools. This research used qualitative methods with a case study approach. Using purposive with a simple random sampling technique, high school students in Zam Zam Muhammadiyah Cilongok Modern Islamic Boarding School with Edupay-Esmart at Logmart transactions during the day were chosen as participants. Data collection techniques used were questionnaires and observation. The research found that transacting or saving at Logmart with Edupay-Esmart was 80.77% because it is easy, 50% because the service is fast, 83.65% because it is safe, 83.65% because the price is affordable, 71.16% increases digital financial literacy, 69.23% reduces wasteful behavior, 93.26% reduces the risk of losing money, and 74.04% makes financial monitoring easier. The findings imply that the use of financial technology in Islamic boarding schools increases the benefits for all parties.

Keywords: benefits, digital finance, Edupay-Esmart, Islamic Boarding School, Zam Zam Muhammadiyah

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Cite this article:

Haudh Al Maa’uun, Hisyam Badarrudin Nugroho, Fathi Rafie Abqorri, Adinda Zahra Raisya Kamila, Rizka Maulida, Arif Rahmansyah Huluq & Rasya Naufal Azri (2024). Beneficial financial technology services at private high schools based on Modern Islamic Boarding Schools in Indonesia. International Student Research Review, 1(1), 23-30. https://doi.org/10.53378/isrr.01246