EBU 1063 Lecture 11: Smart Money Management and Financial Technology
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Questions and Answers

What does Financial Technology (FinTech) refer to?

  • The manual and inefficient management of finances by individuals
  • The use of physical currency for financial transactions
  • The use of modern technologies and software by businesses to offer automated financial services (correct)
  • The traditional banking services provided by established banks

    • How has Mobile Payments impacted the way we manage our finances?

  • It has made managing finances more complicated and time-consuming
  • It has made managing finances more reliant on in-person bank visits
  • It has made managing finances more secure and scalable (correct)
  • It has had no impact on the way we manage our finances

    • What do tech-savvy customers, particularly millennials, expect from financial services?

  • Complicated and time-consuming financial services
  • Traditional and outdated financial services
  • Financial services that require frequent in-person visits to a bank
  • Effortless, secure, and scalable financial services without the need for in-person assistance (correct)

    • In what way do FinTech startups differ from traditional banks?

    <p>They operate flexibly and quickly to implement new services based on changing demands</p> Signup and view all the answers

    What does the term 'Payments' refer to in the context of FinTech?

    <p>The intersection between software and technology to deliver financial services</p> Signup and view all the answers

    How are FinTech's innovative financial service offerings described?

    <p>They disrupt the existing financial services market</p> Signup and view all the answers

    What is the primary means by which people access the web and make use of different financial services?

    <p>Smartphone equipped with mobile banking apps and digital wallets</p> Signup and view all the answers

    What was the impact of the Global Financial Crisis in 2008 on people's trust in traditional banking systems?

    <p>It resulted in many people losing their trust in traditional banking systems</p> Signup and view all the answers

    What has become more important than ever as a result of the Global Financial Crisis in 2008?

    <p>Cloud computing</p> Signup and view all the answers

    What is the main promise that many FinTech firms, especially in the global south, aim to reach?

    <p>Providing access to microfinance and digital lending platforms</p> Signup and view all the answers

    What has FinTech led to a disruption of in the financial industry?

    <p>Asset management sector</p> Signup and view all the answers

    What type of lending platform operates by matching lenders directly with borrowers through online services?

    <p>Peer to peer or marketplace lending platforms</p> Signup and view all the answers

    What is the process of funding a project or venture by raising money from a large number of people called?

    <p>Equity crowdfunding</p> Signup and view all the answers

    What kind of advice is provided by robo-advising in the asset management sector?

    <p>Automated financial advice</p> Signup and view all the answers

    What is the estimated value of the mobile payment market according to Statista?

    <p>$1 trillion in 2019</p> Signup and view all the answers

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