Podcast
Questions and Answers
What is the weightage of the group assignment in the FSIT course?
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?
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?
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?
What does Fintech encompass?
Which element is NOT a part of Fintech?
Which element is NOT a part of Fintech?
In what context has hardware been mentioned in relation to Fintech?
In what context has hardware been mentioned in relation to Fintech?
Why are nearly two-thirds of Canadian tech firms based in Ontario and Quebec?
Why are nearly two-thirds of Canadian tech firms based in Ontario and Quebec?
What led to a 20-50% increase in the use of mobile banking channels during the first few months of COVID-19?
What led to a 20-50% increase in the use of mobile banking channels during the first few months of COVID-19?
Why do consumers demand a more flexible journey in digital banking, according to McKinsey?
Why do consumers demand a more flexible journey in digital banking, according to McKinsey?
What do financial providers need to do to meet customers' demands for speed and efficiency?
What do financial providers need to do to meet customers' demands for speed and efficiency?
How is fintech bridging the gap between traditional banks and modern consumer expectations?
How is fintech bridging the gap between traditional banks and modern consumer expectations?
What has the fintech industry experienced according to the text?
What has the fintech industry experienced according to the text?
What are some everyday tasks facilitated by fintech platforms?
What are some everyday tasks facilitated by fintech platforms?
How are businesses embracing fintech in response to the Covid-19 pandemic?
How are businesses embracing fintech in response to the Covid-19 pandemic?
How do banks use fintech for consumer-facing solutions?
How do banks use fintech for consumer-facing solutions?
What is one way individuals leverage fintech for bank services?
What is one way individuals leverage fintech for bank services?
What does the CompTIA’s Cyberprovinces 2019 Analysis report about Canada's tech sector?
What does the CompTIA’s Cyberprovinces 2019 Analysis report about Canada's tech sector?
How many tech business establishments are estimated to be across Canada?
How many tech business establishments are estimated to be across Canada?
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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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