FinTech Services Semester Review

What is a primary goal of a FinTech ecosystem?

• To replace traditional banks entirely

• To integrate various stakeholders for seamless financial services

• To eliminate the need for digital platforms

• To focus solely on cryptocurrency development

Which of the following is NOT a key component of a FinTech ecosystem?

• Regulatory frameworks

• Legacy systems

• Financial institutions

• Renewable energy systems

Digital platforms in FinTech focus on which of the following?

• Centralized, manual processes

• Automating and streamlining financial services

• Relying heavily on physical infrastructure

• Excluding consumer intelligence

FinTech ecosystems often benefit from which of the following?

• Open banking APIs

• Paper-based accounting systems

• Isolation of financial services

• Manual transaction processing

What is the primary disadvantage of legacy financial platforms?

• High scalability

• Enhanced customer experience

• Lack of flexibility and high maintenance costs

• Compliance with modern regulations

What is an example of a digital platform in FinTech?

What is consumer intelligence primarily used for in FinTech?

• Tracking employee performance

• Enhancing customer experience and personalization

• Reducing financial regulation requirements

• Eliminating customer segmentation

Which of the following technologies enables consumer intelligence in FinTech?

• Artificial Intelligence (AI)

• Typewriters

• Fax machines

• Dial-up internet

What is a key source of consumer intelligence data?

• Randomized surveys

• Customer transaction history

• Paper-based manual logs

• Employee opinions

What does transactional data refer to in FinTech?

• Employee performance metrics

• Data generated during financial transactions

• Regulatory compliance documents

• Marketing email lists