769 International Journal of Progressive Sciences and Technologies (IJPSAT) ISSN: 2509-0119. © 2021 International Journals of Sciences and High Technologies http://ijpsat.ijsht‐journals.org Vol. 28 No. 2 September 2021, pp.371-378 Corresponding Author: Fangky Antoneus Sorongan 371 FinTech as The Emerging Technologies in Banking Industry: Past, Present, and Future Fangky Antoneus Sorongan 1* , Mercurius Broto Legowo 2 , Steph Subanidja 3 Faculty of Economic and Business 1 , Faculty of.Information Technology 2 , Post Graduate Program 3 Perbanas Institute, Jakarta, Indonesia Abstract—In the last decade, it stated that the discourse and the role of Financial Technology (FinTech) as the emerging technology in the financial and banking industry attracted the attention of researchers, practitioners, regulators, and policymakers. Referring to the evolution of FinTech to date, FinTech influences business activities in the banking industry from the past, present, and future. In Indonesia, the opportunities and challenges for the emergence of financial technology in the banking industry are enormous. Therefore, analytical studies related to fintech in the banking industry in the past, present, and future are necessary. Based on these facts, this study aims to present a descriptive analysis of the emergence of FinTech which has had an impact on the banking industry in the past, present, and future, particularly in Indonesia, as a case study. This study uses a descriptive analysis research method and using qualitative method approaches. This descriptive analysis is carried out by critically analyzing various relevant scientific journals, the facts of the FinTech phenomenon in Indonesia, and documentation papers from banking institutions. This results analysis reveals what happened to FinTech as the emerging technology in the past, present, and future in the Banking Industry. The expected contribution of this study provides answers to opportunities and challenges related to FinTech and the banking industry in the past, present, and future in more depth. Keywords—Banking Industry, FinTech, Future, Pas, Present I. INTRODUCTION Financial technology as an emerging technology is increasingly becoming a global trend created by innovators and closely followed by academics, which is now attracting the attention of past, present and future FinTech regulators in the banking industry. [1]. Today, FinTech is an industry that uses cell phone / smartphone centric information technology to improve the efficiency of the financial system. Meanwhile, the technology is connected to the Internet; for example, cloud computing or mobile Internet will promote established companies in the financial services sector, such as money loans or bank transactions [2]. Indonesia has many opportunities in the digital economy in terms of the size of its economy, population, and number of Internet and mobile phone users. In Indonesia, FinTech generally refers to a mobile payment product (mpayment). All major e-commerce sites or online shopping systems have a specific paid version of this fintech product built into their business [3]. The CBNC Indonesia survey found that FinTech payment products own 39% of all FinTech products in Indonesia [4]. Startups are developing very quickly as a FinTech service company in Indonesia. According to the most recent StartupRanking data for 2019, Indonesia ranks fifth in the list of countries in the world with the most technology-based startups with a total of 2,182 startups [5]. And in particular, this study refers to the concept of FinTech evolution, which was investigated by Prawirasasra in 2018 [6]. Additionally, Thakor [7] conducted a FinTech and banking study in 2019. By applying this IT innovation to banks through digital fintech platforms, financial services