Impact of Technology on Finance Quiz

What does 'Fintech' primarily refer to?

• Integration of technology in financial services

• Traditional banking methods

• Investment in physical bank branches

• Use of cash transactions

What was a significant Fintech innovation in Malaysia during the 1950s?

• Online loans

• Cryptocurrency

• Credit cards

• Mobile banking

What percentage of smartphone users had access to digital banking in 2011?

• 10%

• 25%

• 50%

• 5%

By 2018, what was the utilization rate of internet banking in Malaysia?

• 70%

• 90%

• 80%

• 60%

What is 'Insurtech'?

• Cryptocurrency technology

• Banking technology

• Investment technology

• Insurance technology

Which of the following is an example of a P2P payment app?

• Touch n Go

• PayPal

• Cash App

• All of the above

What is one of the impacts of technology on banking?

• Online banking transactions

• Increased need for physical bank visits

• Higher transaction fees

• More reliance on cash

How has technology improved data protection in finance?

• Less reliance on computers

• More effective data protection

• Increased frequency of errors

• More data misuse

What technology helps in faster fraud detection?

• Traditional banking methods

• Manual checks

• Artificial intelligence

• Paper records

What is a benefit of fintech regarding costs?

• More expensive currency conversion

• Higher modification fees

• Avoidance of hidden costs

• Increased cancellation fees