Fintech Regulation and Design Thinking

What has driven the fintech growth in the Philippines?

• Government corruption

• A young and tech-savvy population

• Declining internet usage

• Lack of mobile phones

Name the main body regulating and supervising financial institutions in the Philippines.

• Securities and Exchange Commission (SEC)

• Philippine Stock Exchange (PSE)

• Bangko Sentral ng Pilipinas (BSP)

• Department of Finance (DOF)

What is digital banking?

• Physical banking at ATMs

• Banking through traditional paper methods

• The digitization of all traditional banking products and services

• Banking without any internet access

Define electronic remittances.

• Sending money through physical mail

• Digital transfers of funds across borders

• Depositing cash at a bank branch

• None of the above

Which of the following is a leading fintech subsector in the Philippines?

• E-commerce

• Digital Payments and Mobile Wallets

• Retail Banking

• Real Estate

How can AI be used in fraud prevention

• By analyzing client behavior and identifying unusual patterns

• By increasing the use of cash transactions

• By centralizing data storage

• By reducing the need for encryption

What is the primary function of SupTech in the financial sector?

• Facilitating traditional banking processes

• Digitizing supervisory and regulatory processes

• Increasing manual reporting

• Reducing compliance requirements

What is tokenization in fintech?

• Replacing the primary account number (PAN) with a token

• Storing PANs directly in the environment

• • Using physical tokens for transactions

• Centralizing all financial data

Which of the following is NOT a benefit of design thinking in fintech?

• Avoiding wasted investment

• Discovering the right problems to solve

• Increasing customer acquisition costs

• Aligning earning opportunities with customer value

Why is user retention and user experience critical for financial apps?

• To reduce development costs

• To ensure the app remains unused

• To strike a balance between user experience and security

• To increase the complexity of the app