38 Questions
What is the primary focus of FinTech?
To deliver financial solutions using technology
What is the main intersection of FinTech?
Finance and Technology
When did the term FinTech originate?
Early 1990s
What is the characteristic of FinTech?
Disruptive
What is the focus of FinTech in terms of investments?
Investing in various domains
Why has FinTech gained attention since the last decade?
Due to its use of technology to deliver financial solutions
What is the primary goal of FinTech disruptors?
To innovate and solve existing problems in the financial industry
What is one of the effects of FinTech disruption on the financial industry?
Disrupting the existing business models in the financial industry
Which of the following technologies is NOT listed as an application of new technologies to financial services?
Quantum Computing
What is one of the challenges posed by FinTech innovations?
Evaluating innovations and regulating them
What is the result of FinTech disruption on the relationship between consumers and financial service providers?
Altering the relationship between consumers and financial service providers
What is one of the areas where FinTech disruptors are innovating?
Financial Advisory
What year was the first transatlantic cable introduced?
1866
What was introduced in 1967?
First ATM
What was launched in 2007?
iPhone
What was established in 2009?
Kickstarter
What was the period of financial globalisation from 1866 to 1967 known as?
FinTech 1.0
What was re-branched as Ant Financial in 2014?
AliPay
What was replaced with Blockchain in 2019?
ASX: CHESS
What was launched in 1983?
Online Banking
What is the time period associated with FinTech 2.0?
1967-2008
What is the key element that distinguishes FinTech 3.0 from previous eras?
Mobile and start-ups
What is the geographical focus of FinTech 3.5?
Developing countries
What is the origin of the shift in FinTech 3.0?
2008 financial crisis
What is the definition of FinTech according to EY?
Organizations that combine innovative business models and technology
What is the stage of FinTech adoption in 2017 according to EY?
Initial mass adoption
What is the characteristic of FinTech companies in 2019 according to EY?
Seasoned companies operating on a global stage
What is the time period associated with FinTech 1.0?
1866-1967
In which year did FinTech investment globally double?
2018
What is the primary function of traditional financial markets?
To link providers and users of funds
Which of the following technologies is NOT a underlying FinTech technology?
RegTech
What drives FinTech disruption?
Both technologies and regulations
What is the estimated total investment in FinTech in 2018?
$111.8B
What is the primary goal of Global Financial Systems (GFS)?
To allocate scarce savings optimally among competing investment
What is the name of the report that provides an analysis of FinTech deals globally?
Pulse of FinTech
What is the name of the underlying technology that is used in cryptocurrency?
Blockchain
Which of the following is NOT a type of FinTech application?
Robotics
What is the primary motivation behind FinTech disruption?
To obtain lower costs and fewer restrictions
Study Notes
FinTech History and Development
- FinTech can be traced back to the early 1990s, but its roots date back to 1866 with the first transatlantic cable, combining finance and technology.
- 1850-1967: FinTech 1.0, characterized by the initial combination of finance and technology, leading to financial globalization.
- 1967-2008: FinTech 2.0, marked by the shift from analog to digital, led by traditional financial institutions.
- 2008-present: FinTech 3.0, characterized by the emergence of new players (start-ups) and existing companies in the space.
- FinTech 3.5: Developing countries' adoption of FinTech.
Global FinTech Landscape
- 2019: FinTech companies offer a broad array of financial services and operate on a global stage.
- 2017: The FinTech industry had grown rapidly and achieved initial mass adoption.
- 2015: FinTech was nascent but more than just hype.
FinTech Investment
- Global FinTech investment doubled in 2018, with significant growth in the Americas, Europe, and Asia.
- Total investment activity (VC, PE, and M&A) in FinTech reached $111.8 billion in 2018.
FinTech Australia
- FinTech Australia census 2019 provides insights into the Australian FinTech industry.
FinTechnologies
- Examples of underlying technologies include Blockchain, Big Data, Artificial Intelligence, Biometric Technologies, and others.
- Financial innovations include RegTech, Payment, Crowdfunding, Cryptocurrency, ProTech, Robot-Advising, InsurTech, and others.
Disruption Nature of FinTech
- FinTech disrupts traditional financial markets by bypassing incumbent institutions, seeking lower costs, fewer restrictions, and more efficiency.
- Competition and cooperation among disruptors and incumbent financial institutions shape the FinTech landscape.
- FinTech solves existing problems, alters relationships between consumers and financial service providers, and challenges traditional business models.
Applications of New Technologies to Financial Services
- New technologies such as Blockchain, Big Data, Internet of Things, Cloud Computing, Artificial Intelligence, Biometric, and Augmented/Virtual Reality are applied to various financial services, including Payment, Advisory, Investment, Lending & Funding, Insurance, Security, Operations, and Communications.
Explore the evolution of FinTech, its global landscape, and its impact on financial innovations. Learn about the main Fin-technologies and their disruption nature.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
