ACCA BT · Chapter 6 · Question 8 of 11
Which of the following best describes 'fintech'?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) The use of technology to deliver or improve financial services, such as mobile payments and online lending platforms
Explanation
Fintech refers to technological innovation in financial services, including digital payments, peer-to-peer lending, crowdfunding platforms, robo-advisers and cryptocurrencies. It is not limited to large institutions, it is not a regulator, and it is the opposite of manual bookkeeping.
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