Fintech innovations and digital financial services
Ruziboeva Mushtariy
Part 1 — Multiple Choice Questions (20)
1. What does FinTech stand for?
A. Financial Technology�B. Finance Technique�C. Final Technology�D. Financial Tools
2. Which technology enables secure decentralized transactions?
A. Cloud computing�B. Blockchain�C. Big data�D. IoT
3. Mobile wallets are primarily used for:
A. Investment only�B. Digital payments�C. Data storage�D. Marketing
4. Which FinTech service provides automated investment advice?
5. Peer-to-peer lending platforms connect:
A. Banks and governments�B. Borrowers and lenders directly�C. Investors and regulators�D. Customers and retailers
6. What is the main advantage of digital banking?
A. Limited access�B. 24/7 availability�C. High operational cost�D. Manual processing
7. Which technology helps detect financial fraud?
A. Artificial intelligence�B. Printing systems�C. Paper documentation�D. Manual audits
8. Open banking is based on:
A. Closed financial data�B. Data sharing through APIs�C. Cash payments�D. Traditional banking
9. Which sector combines insurance and technology?
A. PayTech�B. RegTech�C. InsurTech�D. WealthTech
10. What is a major risk of digital financial services?
A. Increased paperwork�B. Cybersecurity threats�C. Slow transactions�D. Limited innovation
11. Cryptocurrency transactions are verified through:
12. Digital financial inclusion aims to:
A. Reduce online access�B. Expand access to financial services�C. Increase banking fees�D. Limit transactions
13. Buy Now, Pay Later (BNPL) services allow customers to:
A. Pay fully in advance�B. Delay payments in installments�C. Avoid payments�D. Pay only in cash
15. RegTech solutions focus on:
A. Marketing automation�B. Regulatory compliance�C. Customer service�D. Advertising
Case Study 1 — Digital bank expansion strategy
Scenario
A fully digital bank plans to expand into a new emerging market where many people are unbanked but smartphone usage is high. However, customers have low trust in digital financial services.
Tasks
- Identify key opportunities for the digital bank�- Analyze risks (regulatory, technological, behavioral)�- Propose strategies to build customer trust�- Recommend financial products suitable for this market�- Define KPIs to measure market entry success
Expected outcome: Market entry strategy
Case Study 2 — FinTech payment platform security crisis
Scenario
A fast-growing mobile payment platform experiences a data breach that exposes customer information, causing a decline in user activity and reputation damage.
Tasks
1. Analyze the main causes and impacts of the crisis
2️. Develop an immediate response plan�3. Propose long-term cybersecurity improvements�4. Suggest communication strategies to rebuild trust�5. Define metrics to evaluate recovery
Expected outcome: Crisis management and recovery plan