Ice-breaking Session of Fintech Workshop

Let’s start out easy. What does FinTech stand for?

• Finest Technology

• Financial Technology

• Final Technicalities

• Financed Technicalities

That was easy enough. Do you maybe know what happened in 1967?

Hint: a momentous turning-point marks the beginning of the Modern Fintech 2.0

• The first ATM by Barclays was introduced

• The first transatlantic cable was successfully laid

• The establishment of NASDAQ - the world's first digital stock exchange

• Fedwire system was established

Answer explanation

The Fintech 1.0 stage (1886 - 1967) involves building the infrastructure supporting globalized financial services and electronic fund transfer (First transatlantic cable - 1886 and Fedwire system - 1918).

The switch from analogue to digital brings us the first ATM machine by Barclays in 1967 which marks the beginning of the modern FinTech 2.0.

It’s getting harder. Do you know what is a Blockchain?

• A distributed ledger on a peer to peer network

• A type of cryptocurrency

• A stock exchange

• A centralized ledger

This one is tougher. FinTech has really become a part of our daily lives. However, FinTech is not yet found in which area?

• Insurance

• Retail Investing

• Lottery

• Credit Score and Analytics

• Lending

  and Payment

Last but not least, choose the option which best describes the incumbent firms (i.e., Banks) and Fintech today

• Enemies

• Frenemies (both friend and enemy)

• Strategic Partnerships

• Unrelated / Unconnected