Podcast
Questions and Answers
Vacuumlabs worked with Spanish FinTech Doconomy to develop technology that combines data on credit card purchases with carbontracking data.
Vacuumlabs worked with Spanish FinTech Doconomy to develop technology that combines data on credit card purchases with carbontracking data.
False
Cogo is a Swedish carbon-tracking FinTech that uses the UK's Open Banking infrastructure to make APIs available to banks.
Cogo is a Swedish carbon-tracking FinTech that uses the UK's Open Banking infrastructure to make APIs available to banks.
False
The UK's 'Big 4' bank, Barclays, integrated carbon tracking into their banking apps with the help of Cogo.
The UK's 'Big 4' bank, Barclays, integrated carbon tracking into their banking apps with the help of Cogo.
False
Fintech tools and techniques are only relevant in certain parts of the financial services value chain.
Fintech tools and techniques are only relevant in certain parts of the financial services value chain.
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In many countries, payments are still predominantly made using traditional methods rather than digitally.
In many countries, payments are still predominantly made using traditional methods rather than digitally.
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The use of robo-advisors is limited to assisting customers in navigating basic financial tasks.
The use of robo-advisors is limited to assisting customers in navigating basic financial tasks.
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Big data and advanced data analytics are primarily used for marketing purposes in the financial sector.
Big data and advanced data analytics are primarily used for marketing purposes in the financial sector.
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Trading in financial markets is becoming less automated due to increasing regulatory restrictions.
Trading in financial markets is becoming less automated due to increasing regulatory restrictions.
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Central banks are exploring the use of blockchain-based systems to improve the accuracy, efficiency, and security of their payment infrastructure.
Central banks are exploring the use of blockchain-based systems to improve the accuracy, efficiency, and security of their payment infrastructure.
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Green finance applications have no impact on the development of new types of loans or insurance products.
Green finance applications have no impact on the development of new types of loans or insurance products.
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Study Notes
Distributed Ledger Technology (DLT) in Transactions
- DLT simplifies processes and shortens negotiation time frames, enhancing customer service quality.
- Offers universal access to transaction details for all participants, promoting transparency.
- Reduces issuing time and ensures traceability and immutability of agreements: critical for regulatory compliance.
Client Flexibility and Self-Service
- Clients can select from numerous product configuration options, allowing tailored bond designs to meet individual needs.
- Supports a self-service approach, enabling knowledgeable investors to define product variables efficiently.
- Streamlined exploration of new investment solutions through an entirely digital process.
Key Terms Defined
- Artificial Intelligence (AI): Simulation of human intelligence by machines, enhancing efficiency in various processes.
- Blockchain/Distributed Ledger: A decentralized database of records shared among parties, verified by consensus without a central administrator—can be open or restricted access.
- CleanTech: Encompasses technologies that aid environmental management and climate change initiatives, also known as GreenTech.
- Crowdfunding/Crowdinvesting: Method of raising small amounts from many investors online to fund projects or ventures.
- Cryptocurrency: Digital assets used for financial transactions, typically leveraging blockchain technology.
- FinTech: Merges Finance and Technology, utilizing advances in digital technology for financial tools and apps, including AI, machine learning, and big data analytics.
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Description
Test your knowledge on the advantages of using Distributed Ledger Technology (DLT) in transactions. Learn how DLT simplifies processes, streamlines negotiation time frames, and ensures transparency for all participants. Explore how DLT can enhance customer service and improve transaction efficiency.
