CHAPTER 2_IMPACT OF TECH ON FINANCE

Internet Banking:

(Choose all the correct answers)

• Offer 12-hour banking options.

• Transfer of money between accounts is easier.

• Helps to monitor your accounts on a daily basis.

• Businesses rarely use internet banking.

• Is highly ineffective compared to going to the bank in person.

Reduces the need for employees to take trips to the bank.

• presentation software

• email

• LANs

• internet banking

Costs of Technology in the Finance function:

(choose all that apply)

• Increased potential security risks.

• Maintenance costs of IT

• Financial costs of new technology, including training staff.

• More difficult to control and record financial data.

Benefits of Technology in the Finance function:

(choose all that apply)

• Better control over finance

  and recording of data.

• Better-trained staff in the use of helpful technology

• Better security with up-to-date systems in place.

• Very cheap to buy the ICT equipment required.

Fintech is an integration of

technology used by financial

services companies to enhance

their use and

delivery to consumers

• TRUE

• FALSE

In year 1980, many financial institutions had achieved digital maturity.

• TRUE

• FALSE

Bitcoin, Ethereum and

Litecoin are kind of Internet Banking system.

• TRUE

• FALSE

Regulatory technology, is

the application of emerging

technology to improve the

way businesses manage

regulatory compliance.

• TRUE

• FALSE

Cost savings provides organizations with simplified

transaction processes and increased overall

costs

• TRUE

• FALSE

Transactions can be carried out at any

time and from any location with the

existence of _______ payment

systems

• robotic_enabled

• machine_enabled

• fintech-enabled

• wireless