Fintech Quiz 2024

Crowdfunding platform is …

• type of automated financial advisor that provides algorithm-driven wealth management services with little to no human intervention

• innovative way to raise money from a large group of personal investors

• record of all transactions updated and held by currency holders

Robo-advisor is …

• a type of expert system optimized for financial services, specifically for investing and portfolio management advice

• a type of distributed ledger that requires entries to be confirmed and encrypted via an advanced encryption technique

• a form of finance that does not rely on central financial intermediaries such as exchanges, or banks

Mining

• decentralized system where two persons interact with each other without a third-party intermediary

• process or event in which a company attempts to raise capital by selling a new cryptocurrency

• process which validates and adds transactions to the blockchain to bring new Bitcoin or other digital asset into circulation

Tokens

• code for your digital wallet that you share with others so they can send you digital assets

• units of value that blockchain-based organizations or projects develop on top of existing blockchain networks

• government-issued currency that is not backed by a commodity, such as gold

Escrow

• third-party service that holds funds or assets during a transaction, until the conditions of the agreement are met

• online platform where users can buy and sell cryptocurrencies or other digital currencies

• open source blockchain platform for the development of enterprise applications

Innovative technologies used to improve the efficiency and convenience of the insurance industry

• Initial coin offering (ICO)

• Insurtech

• KYC (Know Your Customer)
  

• Regtech

• A pilot testing program that provides a safe, live environment for financial institutions to try out new products or services before being licensed

• Machine learning

• Open banking

• Fintech sandbox

• Smart contract

It allows banks and financial institutions to offer their services and make seamless integration for programmers

• BNPL (Buy now, pay later)

• API Banking

• B2B Payments Ecosystem

• CAPTCHA

Business model in which fintech firms and other third parties that meet a bank's security, legal, and compliance requirements integrate banking products into their own offerings without obtaining their own banking licenses, allowing them to leverage the bank’s regulatory infrastructure

• Big Data

• Cloud computing

• Crypto-exchange

• Banking-as-a-service (BaaS)

A set of alternative financial markets, products and systems that operate using crypto-assets and ‘smart contracts’ (software) built using distributed ledger or similar technology

• Fast payments

• Factoring

• Decentralized finance (DeFi)

• Digital ID