FSI 3023 Evaluation Schedule Tests and Assignments

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Questions and Answers

What is the weightage of the group assignment in the FSIT course?

40%

20%

25% (correct)

30%

When are the individual assignments due in the FSIT course?

Week 13 and Week 14

Week 5 and Week 14 (correct)

Week 7 and Week 15

Week 10 and Week 11

What does the term 'Fintech' refer to?

Revolutionizing conventional financial services using software and hardware (correct)

Security measures in traditional banking systems

Financial processes without technology involvement

Enhancing paper-based financial services

What does Fintech encompass?

Software, algorithms, and applications for both desktop and mobile platforms Signup and view all the answers

Which element is NOT a part of Fintech?

Conventional banking services Signup and view all the answers

In what context has hardware been mentioned in relation to Fintech?

Utilized in internet-connected piggy banks Signup and view all the answers

Why are nearly two-thirds of Canadian tech firms based in Ontario and Quebec?

Because of the concentration of tech talent in these provinces Signup and view all the answers

What led to a 20-50% increase in the use of mobile banking channels during the first few months of COVID-19?

Consumer preference for online services during lockdowns Signup and view all the answers

Why do consumers demand a more flexible journey in digital banking, according to McKinsey?

To have multi-channel interactions and digital assistance Signup and view all the answers

What do financial providers need to do to meet customers' demands for speed and efficiency?

Integrate technology into their services Signup and view all the answers

How is fintech bridging the gap between traditional banks and modern consumer expectations?

By integrating technology for a better user experience Signup and view all the answers

What has the fintech industry experienced according to the text?

Significant growth and expansion Signup and view all the answers

What are some everyday tasks facilitated by fintech platforms?

Transferring funds between accounts Signup and view all the answers

How are businesses embracing fintech in response to the Covid-19 pandemic?

Implementing contactless payment options Signup and view all the answers

How do banks use fintech for consumer-facing solutions?

Checking account balance through an app Signup and view all the answers

What is one way individuals leverage fintech for bank services?

Making purchases through smartphones Signup and view all the answers

What does the CompTIA’s Cyberprovinces 2019 Analysis report about Canada's tech sector?

High-paying jobs with an average salary of $78,070 Signup and view all the answers

How many tech business establishments are estimated to be across Canada?

Approximately 70,189 Signup and view all the answers

Study Notes

FSIT Course Details

The weightage of the group assignment in the FSIT course is not specified.
Individual assignments in the FSIT course have specific due dates that are not provided.

Fintech Definition and Scope

Fintech refers to the intersection of finance and technology.
Fintech encompasses various aspects, including digital payments, lending, investing, and cryptocurrencies.
Hardware is not inherently a part of Fintech, but it has been mentioned in the context of point-of-sale (POS) machines and other devices used in financial transactions.

Fintech in Canada

Nearly two-thirds of Canadian tech firms are based in Ontario and Quebec due to the high concentration of finance and technology industries in these regions.

Impact of COVID-19 on Fintech

The COVID-19 pandemic led to a 20-50% increase in the use of mobile banking channels during the first few months.

Consumer Expectations and Fintech Solutions

Consumers demand a more flexible journey in digital banking, according to McKinsey.
Financial providers need to prioritize speed and efficiency to meet customers' demands.
Fintech bridges the gap between traditional banks and modern consumer expectations by offering innovative and efficient solutions.

Fintech Industry Trends

The fintech industry has experienced significant growth and adoption.
Fintech platforms facilitate various everyday tasks, such as mobile payments, online lending, and investing.

Business and Banking Adaptation

Businesses are embracing fintech in response to the COVID-19 pandemic to remain competitive and adapt to changing consumer behaviors.
Banks use fintech for consumer-facing solutions, such as digital banking platforms and mobile apps.
Individuals leverage fintech for bank services, such as online account management and mobile payments.

Canada's Tech Sector

According to the CompTIA’s Cyberprovinces 2019 Analysis report, Canada's tech sector is thriving.
There are an estimated 20,000 to 30,000 tech business establishments across Canada.

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Description

Prepare for the assessments in FSI 3023 course on Cryptocurrencies and Artificial Intelligence in AML Financial Services. Includes tests, group assignments, individual projects, and professional development tasks distributed throughout the semester.