ITPEC IP October 2020 Question 86
ITPEC IP October 2020 — Question 86 of 100
Fintech combines finance and information technology to create or improve financial services. Examples include AI-based asset management, mobile payments, online lending, automated insurance processes, and digital banking tools.
Answer (b)
Why not others:
- FA means factory automation
- OA means office automation
- the sharing economy enables people to share or exchange underused goods and services through platforms
Key rule: When innovative IT is applied specifically to payments, banking, investment, lending, insurance, or other finance, the term is fintech.
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