Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

Benefits of Fintech Services in the Financial Sector

10 Questions

0 Views

Benefits of Fintech Services in the Financial Sector

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following is NOT a benefit of tokenization in the context of online transactions?

Reduces the risk of storing sensitive data online

Eliminates the need to enter account details multiple times

Enables merchants to store customers' complete card details securely (correct)

Provides a higher level of encryption for account details

Which of the following statements about tokenization is true?

Tokens are generated and managed by the card-issuing banks

Each token is unique to a specific card and merchant combination (correct)

Tokenization eliminates the need for CVV and OTP during transactions

A single token can be used across multiple merchants for the same card

How does tokenization contribute to financial inclusion in India?

It provides a secure and convenient way for customers to make online transactions (correct)

It facilitates the distribution of government subsidies and welfare benefits

It simplifies the process of opening bank accounts for underbanked communities

It enables unbanked populations to access financial services through digital wallets

Which of the following statements best describes the impact of fintech on the Indian financial services sector?

It has fueled growth and innovation, driven by favorable policies and regulations Signup and view all the answers

How can tokenization contribute to cost reduction for financial service providers?

By reducing the costs associated with fraud and data breaches Signup and view all the answers

Which of the following statements about tokenization is FALSE?

It enables merchants to store tokenized data indefinitely Signup and view all the answers

How can tokenization enhance the speed and efficiency of online transactions?

By reducing the time required for manual data entry and verification Signup and view all the answers

Which aspect of tokenization contributes to personalized customer service in the financial services sector?

It allows customers to securely store multiple payment methods for easy access Signup and view all the answers

Which of the following statements about tokenization and fintech in India is TRUE?

India's fintech sector has embraced tokenization as a way to enhance security and convenience Signup and view all the answers

How can tokenization contribute to the enhancement of personalized customer service in the financial services sector?

By allowing customers to securely store multiple payment methods for easy access Signup and view all the answers