Understanding Fintech: A Modern Financial quiz

What is the primary aim of fintech?

• To enhance and automate financial operations

• To replace traditional banking entirely

• To focus solely on consumer-oriented services

• To eliminate the need for financial regulations

Which of the following is NOT a sector where fintech has expanded its services?

• Education

• Retail banking

• Healthcare

• Investment management

What event gave momentum to fintech startups?

• The 2008-09 stock market crash

• The introduction of Bitcoin

• The COVID-19 pandemic

• The launch of PayPal

What is the projected global market value of fintech by 2025?

• $305 billion

• $132 billion

• $500 billion

• $75.2 billion

Which technology is NOT mentioned as driving future innovation in fintech?

• Blockchain technology

• Quantum computing

• Artificial intelligence

• Machine learning

• Financial technology, commonly known as ____, represents a significant shift in how financial services are delivered and utilized.

• What does fintech aim to enhance and automate?

• Agricultural practices

• Financial operations

• Transportation logistics

• Retail marketing strategies

• Fintech was initially associated with backend systems of financial institutions.

• True

• False

• Fintech encompasses any app, software, or technology that allows ____ access to financial services.

• What is one of the main benefits consumers have derived from fintech?

• Economic relief

• Increased complexity

• Higher transaction fees

• More paperwork