What is fintech - Study guides, Class notes & Summaries

AIN1501 Assignment 1 (COMPLETE ANSWERS) Semester 1 2024 (646297) - DUE 18 March 2024 ;100% TRUSTED workings, explanations and solutions. for assistance Whats-App.......0.6.7..1.7.7..1.7.3.9 .................. Question 1 Complete Mark 1.00 out of 1.00 Question 2 Complete Mark 1.00 out of 1.00 QUIZ The system uses information, models, or analysis tools to enable managers to make simulations and predictions. a. Management information system (MIS) b. Decision support system (DSS) c. O...

What is Fintech? correct answers Use of technology to solve financial services problems Financial Services correct answers ◦Commercial Banking ◦Lending ◦Payments ◦Investment Banking ◦Wealth Management ◦Insurance and Credit ◦Financial Regulation Application Programming Interface (API) correct answers A software interface enabling two or more computer programs to communicate Artificial Intelligence (AI) and Machine Learning correct answers Use of computers to detect tr...

Introduction to Digital Economics and FinTech Quiztest with Verified Answers 1: What is digital economics?--- correct answer --- Digital economics refers to the study of economic activity that results from billions of online connections among people, businesses, devices, data, and processes. It includes the impact of digital technology on economic activities and the creation of new economic models. 2: How has FinTech transformed the financial industry?--- correct answer --- FinTech has t...

What are 3 accelerators of the FinTech Industry? correct answers 1. Loss of consumer trust in financial institutions 2. Free software, cloud computing, connectivity 3. Generation change - Millennials What is the difference between FinTech and TechFin? correct answers FinTech is a financial service company using technology (LendingClub), while TechFin is a tech company providing some financial services (Apple) What are the 6 "flavors" of FinTech? correct answers 1. P2P lenders (ie. Lend...

What is a challenger bank? Where are they mostly located? Two Examples. correct answers Tech-driven retail bank, created either as a start-up or a divestment from larger banks that use innovative systems and products to appeal to newer generations and directly compete with incumbents. Mostly in UK: Monzo & Revolut Capital One: Disruptive or sustaining? Why? Mix of organic and inorganic innovations? correct answers Sustaining- They entered retail banking in early 2000s, extending their pro...

What advancement in banking has led to the percentage of people in Kenya with bank accounts to rise from 30% to nearly 100%? correct answers Mobile Money Accounts Which of the following are the two (2) major financial crises that resulted in an unusually high (for the U.S.) unemployment rate and caused the banking system to fail in the United States? correct answers The Great Recession of 2008 and the Great Depression. The banking system we have today is a direct descendent from which of t...

The Financial Stability Board defines fintech as "technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated________ effect on the provision of financial services." correct answers Material What measures the fintech users as a percentage of the digitally active population? correct answers Fintech adoption rate Open Banking standards do all but which of the following? Make it possible to pass on i...

The Financial Stability Board defines fintech as "technology-enabled innovation in financial servicesthat could result in new business models, applications, processes or products with an associated________ effect on the provision of financial services." correct answers material What measures the fintech users as a percentage of the digitally active population? correct answers Fintech adoption rate Open Banking standards do all but which of the following? correct answers Eliminate all ris...

Material correct answers The Financial Stability Board defines fintech as "technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated __________ effect on the provision of financial services" Fintech Adoption Rate correct answers What measures the fintech users as a percentage of the digitally active population? b) eliminate all risk in the online banking system correct answers Open Banking standard...

What are some of the factors that allowed Ant Financial to become a dominant financial service provider in sucha short period of time? correct answers Large market Unmet demand for financial services to lower end of the retail costumers/ complement rather than compete with incumbentbanks Synergies from Alibaba -costumer focus, technologies, cross-selling, use of data Relationship with regulator Provide at least three drivers for the recent growth in FinTech. correct answers -Size, pr...