Unique Characteristics
What is one key feature of financial innovation?
A new method or product that improves financial services.
What is a disruptive financial technology?
A technology that significantly alters the way businesses operate in the financial sector.
What does "FinTech" stand for?
Financial Technology.
How does financial innovation improve user experience?
By providing faster, more efficient services through technology.
Give an example of how blockchain is a driver of change.
It enables secure, transparent transactions without intermediaries.
Define "blockchain."
A decentralized digital ledger that records transactions across multiple computers.
Name an example of a financial innovation that has changed banking.
Mobile banking apps.
How do FinTech startups challenge traditional banks?
By offering innovative services that are often more user-friendly and cost-effective.
What is meant by "crowdfunding"?
Raising small amounts of money from a large number of people, typically via the internet.
What role does regulation play in financial innovation?
Regulation can either encourage or hinder innovation by setting rules.
What impact does artificial intelligence have on finance?
It enhances data analysis, improving decision-making in finance.
Explain the term "robo-advisor."
An automated platform that provides financial planning services with minimal human intervention.
How do consumer demands influence financial innovation?
Consumers’ need for convenience and speed drives the development of new financial products.
Explain how peer-to-peer lending represents a shift in financial services.
It connects borrowers directly with lenders, bypassing traditional banks.
What is "cryptocurrency"?
A digital or virtual currency that uses cryptography for security and operates on a technology called blockchain.