Financial Services Platforms

What is a legacy financial services platform?

• A modern, digitally-native platform.

• A traditional system that predates digitalization.

• A platform that relies on blockchain technology.

• A platform for cryptocurrencies only.

What is a primary characteristic of legacy financial systems?

• High security through blockchain technology.

• User-friendly mobile apps.

• Manual, paper-based processes.

• Instant cross-border transactions.

Which of the following best describes digital financial services platforms?

• Platforms that are exclusively used by banks.

• Platforms that rely on physical branch interactions.

• Platforms that utilize technology to deliver financial services.

• Platforms that require in-person meetings for transactions.

Which technology is NOT commonly associated with digital financial services platforms?

• Artificial Intelligence (AI).

• Blockchain.

• Mobile apps.

• Fax machines.

What is a key advantage of digital financial services platforms for customers?

• Limited accessibility due to physical branches.

• Slower transaction processing times.

• 24/7 access and convenience.

• Reduced security.

Which platform allows users to make transactions using smartphones or other mobile devices?

• Legacy financial services platforms.

• Traditional banks.

• Mobile payment platforms.

• Checkbooks.

What technology has revolutionized customer experience in digital banking?

• Fax machines.

• Virtual reality.

• User-friendly mobile apps.

• Snail mail.

Which of the following is an example of a legacy financial institution?

• A traditional bank with physical branches.

• A modern digital-only bank.

• A cryptocurrency exchange.

• A peer-to-peer lending platform.

What technology has led to improved transparency and security in financial transactions?

• Artificial Intelligence.

• Blockchain.

• Virtual reality.

• Social media.

Which platform connects borrowers directly with lenders, bypassing traditional financial intermediaries?

• Traditional banks.

• Robo-advisors.

• Peer-to-peer (P2P) lending platforms.

• Mobile payment platforms.