Fintech Midterm

What does the term "FinTech" stand for?

• Financial Technologies

• Financial Transaction

• Financial Technology

• Financial Tracking

In which decade did the term "FinTech" gain widespread usage?

• 1980s

• 1990s

• 2000s

• 2010s

Which year saw the launch of PayPal, one of the earliest FinTech platforms?

• 1998

• 2001

• 2005

• 2010

What is the significance of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the context of FinTech?

• It introduced the concept of Bitcoin

• It laid the foundation for FinTech regulation

• It facilitated the first ICO

• It established the first blockchain consortium

What is a primary driver of FinTech growth related to consumer behavior?

• Preference for traditional banking

• Resistance to digital transactions

• Demand for personalized and convenient financial services

• Lack of interest in mobile apps

Which of the following is a regulatory driver influencing FinTech development?

• Increased bureaucracy

• Regulatory sandbox programs

• Limiting innovation

• Prohibition of digital transactions

What is the primary goal of FinTech companies in disrupting traditional financial services?

• Maintaining status quo

• Encouraging manual transactions

• Innovating and improving financial services

• Reducing digital accessibility

What term is often used to describe the blending of traditional financial services with technology?

• TechFin

• FinCraft

• Digital Banking

• Financial Inclusion

Which category of players is often known for agility, innovation, and disruption in FinTech?

• Traditional banks

• Tech giants

• Regulatory bodies

• Legacy financial institutions

What strategy do many traditional banks adopt to stay competitive with FinTech startups?

• Avoiding collaboration

• Acquiring FinTech startups

• Ignoring technological advancements

• Restricting digital access