FINTECH QUESTIONS WITH DETAILED VERIFIED AND
100% ACCURATE ANSWERS
7 Financial Services Correct Answers Lending
Commercial Banking
Payments
Investment Banking
Wealth Management
Insurance and Credit
Financial Regulation
brokerage firm Correct Answers a business that specializes in trading
stocks
brokerage fee Correct Answers fee to buy or sell a stock
5 Influential Technologies Correct Answers 1. Application
Programming Interface (API)
2. Artificial Intelligence and Machine Learning (AI)
3. Blockchain
4. Cloud Computing
,5. Edge Computing
API (Application Programming Interface) Correct Answers software
interface enable two or more computing programs to communicate
Artificial Intelligence (AI) and Machine Learning Correct Answers Use
of computers to detect trends and make predictions/suggestions
Blockchain Correct Answers Network of computers to record, verify,
and synchronize transactions
Replace middleman and use independent computers
Cloud Computing Correct Answers remote data processing
Edge Computing Correct Answers faster and more comprehensive data
analysis at source
Regions with payment innovation future Correct Answers Asia
Africa
NA
Latin America
Europe
,(lack of infrastructure in developed countries leaves room for
innovation)
3 Functions of Retail Banks Correct Answers Lend
Facilitate Payments (cash, card, transfers)
Deposits (storing cash + earning interest)
Benefits of P2P lending Correct Answers lower operating costs than
banks, lower capital requirements, borrow easily and faster
Remittances Correct Answers money sent by foreign workers to their
home country
Time Value of Money Correct Answers Present money is more valuable
than future money
Risk Free Assets Correct Answers has a certain future return. Treasuries
(especially T-bills) are considered to be risk-free because they are
backed by the U.S. government.
- lower rates of return but guaranteed return
Scenario 10 Trillion Payment Correct Answers can't pay with:
cash --> 1.5 Trillion Printed
Bitcoin --> 1.2/1.3 Billion
, Bank Transfer Wire - YES
Check - YES
Venmo --> limits on transactions
Fin Tech Companies Qualities Correct Answers Transparency (easy-to-
use interfaces)
Trust (security)
Technology
Power to the People (control over their money)
2008 Crisis Correct Answers Lack of Trust
Difficulties in borrowing
What is Fintech? Correct Answers Use of technology to solve financial
services problems
Early Era Fintech 1.0 Correct Answers building infrastructure that will
support globalized financial services
1. First Telegraph - the ability to make financial transactions over a
considerable distance (Samuel Morse)
2. First Transatlantic Cable - connected both sides of Atlantic
100% ACCURATE ANSWERS
7 Financial Services Correct Answers Lending
Commercial Banking
Payments
Investment Banking
Wealth Management
Insurance and Credit
Financial Regulation
brokerage firm Correct Answers a business that specializes in trading
stocks
brokerage fee Correct Answers fee to buy or sell a stock
5 Influential Technologies Correct Answers 1. Application
Programming Interface (API)
2. Artificial Intelligence and Machine Learning (AI)
3. Blockchain
4. Cloud Computing
,5. Edge Computing
API (Application Programming Interface) Correct Answers software
interface enable two or more computing programs to communicate
Artificial Intelligence (AI) and Machine Learning Correct Answers Use
of computers to detect trends and make predictions/suggestions
Blockchain Correct Answers Network of computers to record, verify,
and synchronize transactions
Replace middleman and use independent computers
Cloud Computing Correct Answers remote data processing
Edge Computing Correct Answers faster and more comprehensive data
analysis at source
Regions with payment innovation future Correct Answers Asia
Africa
NA
Latin America
Europe
,(lack of infrastructure in developed countries leaves room for
innovation)
3 Functions of Retail Banks Correct Answers Lend
Facilitate Payments (cash, card, transfers)
Deposits (storing cash + earning interest)
Benefits of P2P lending Correct Answers lower operating costs than
banks, lower capital requirements, borrow easily and faster
Remittances Correct Answers money sent by foreign workers to their
home country
Time Value of Money Correct Answers Present money is more valuable
than future money
Risk Free Assets Correct Answers has a certain future return. Treasuries
(especially T-bills) are considered to be risk-free because they are
backed by the U.S. government.
- lower rates of return but guaranteed return
Scenario 10 Trillion Payment Correct Answers can't pay with:
cash --> 1.5 Trillion Printed
Bitcoin --> 1.2/1.3 Billion
, Bank Transfer Wire - YES
Check - YES
Venmo --> limits on transactions
Fin Tech Companies Qualities Correct Answers Transparency (easy-to-
use interfaces)
Trust (security)
Technology
Power to the People (control over their money)
2008 Crisis Correct Answers Lack of Trust
Difficulties in borrowing
What is Fintech? Correct Answers Use of technology to solve financial
services problems
Early Era Fintech 1.0 Correct Answers building infrastructure that will
support globalized financial services
1. First Telegraph - the ability to make financial transactions over a
considerable distance (Samuel Morse)
2. First Transatlantic Cable - connected both sides of Atlantic
