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Questions and Answers
What is the primary purpose of FinTech?
What is the primary purpose of FinTech?
- To build rockets for space exploration
- To automate farming processes
- To enhance and automate medical services
- To enhance and automate financial services (correct)
What does Mobile banking and payments offer?
What does Mobile banking and payments offer?
- Convenient and secure access to financial services through smartphones and mobile devices (correct)
- Convenient and secure access to legal services through smartphones
- Convenient and secure access to healthcare services through smartphones
- Convenient and secure access to grocery services through smartphones
What does Digital lending involve?
What does Digital lending involve?
- Digital platforms connecting pet owners and pet sitters
- Digital platforms connecting buyers and sellers of electronics
- Online platforms connecting chefs and food enthusiasts
- Online platforms connecting borrowers and offering alternative financing options (correct)
What is Robo-advising?
What is Robo-advising?
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Study Notes
FinTech Overview
- The primary purpose of FinTech is to improve and automate financial services through technology, making them more efficient, accessible, and cost-effective.
Mobile Banking and Payments
- Mobile banking and payments offer users the ability to conduct financial transactions, such as money transfers, bill payments, and account management, remotely using mobile devices.
Digital Lending
- Digital lending involves the use of online platforms and algorithms to provide loans and credit to individuals and businesses, often with faster processing times and more flexible terms than traditional lending methods.
Robo-Advising
- Robo-advising is a type of financial advisory service that uses artificial intelligence and machine learning algorithms to provide personalized investment advice and portfolio management, often at a lower cost than traditional human financial advisors.
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Description
Test your knowledge of FinTech with this quiz! Explore the basics of financial technology, mobile banking, and payments. See if you can correctly answer questions about the technology used to enhance and automate financial services, and the benefits of mobile banking and payments.
