Penelitian ini mengkaji dampak signifikan pertumbuhan kredit lembaga teknologi keuangan (fintech) terhadap profitabilitas dan stabilitas perbankan konvensional serta syariah di negara-negara OKI-G20 (Indonesia, Arab Saudi, Turki) selama periode 2012-2023. Dengan menggunakan metodologi Two-Stage Least Squares (2SLS) pada data panel, studi ini mengungkap dinamika yang kompleks. Untuk bank konvensional, meskipun pertumbuhan total kredit fintech secara parsial tidak memengaruhi profitabilitas keseluruhan (ROA, ROE), ekspansi aset fintech secara lebih luas justru positif terhadap Net Interest Margin (NIM), mengindikasikan peningkatan efisiensi operasional jangka pendek. Namun, pertumbuhan aset fintech secara signifikan mengurangi stabilitas bank konvensional (Z-score), menunjukkan kompetisi langsung dan potensi risiko sistemik akibat peran fintech yang makin besar dalam penyaluran kredit ritel. Bank syariah menunjukkan ketahanan lebih baik dalam profitabilitas (ROA, ROE), namun total aset fintech secara signifikan meningkatkan Net Operating Margin (NOM) mereka, mencerminkan efisiensi operasional yang terdorong tanpa risiko sistemik besar. Meskipun demikian, pertumbuhan aset fintech berdampak negatif moderat pada stabilitas bank syariah. Temuan ini menegaskan peran fintech sebagai kompetitor langsung dalam intermediasi keuangan, menuntut regulasi yang seimbang dan penguatan struktur permodalan bank demi menjaga ketahanan sistem keuangan di tengah transformasi digital

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This study investigates the significant impact of fintech credit growth on the profitability and stability of both conventional and Islamic banking systems in selected OIC G20 countries (Indonesia, Saudi Arabia, and Turkey) over the period 2012–2023. Employing a Two Stage Least Squares (2SLS) panel data approach, the research uncovers complex dynamics between fintech expansion and bank performance. For conventional banks, while total fintech credit growth does not significantly affect overall profitability (as measured by ROA and ROE), broader fintech asset expansion shows a positive relationship with Net Interest Margin (NIM), indicating short-term operational efficiency gains. However, fintech asset growth significantly reduces the stability of conventional banks, as evidenced by a decline in Z-scores suggesting direct competition and the emergence of potential systemic risks due to fintech’s increasing role in retail credit distribution. In contrast, Islamic banks demonstrate greater resilience in terms of profitability (ROA and ROE), with fintech asset expansion significantly enhancing their Net Operating Margin (NOM), indicating improved operational efficiency without major systemic risk exposure. Nonetheless, fintech asset growth exerts a moderately negative effect on the stability of Islamic banks. These findings underscore the role of fintech as a direct competitor in financial intermediation and highlight the need for balanced regulatory frameworks and strengthened bank capitalization to safeguard financial system resilience amid ongoing digital transformation.