Home › B.Com Banking & Insurance › Banking and Finance › Money and Financial Institutions › Which services do fintech firms typically provide?
Which services do fintech firms typically provide?
APayment processing, peer-to-peer lending, and software
BDeposit insurance, bank charters, and examinations
CMonetary policy, currency issue, and cheque clearing
DPension management, share broking, and underwriting
Answer & Solution
Correct answer: A. Payment processing, peer-to-peer lending, and software
1. Financial technology firms offer payment transaction processing.
2. They provide mobile and web payment services for e-commerce firms.
3. They also run peer-to-peer lending and sell integrated financial software programs.
4. Deposit insurance and bank examinations are supervisory functions, which no fintech firm performs.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 15 "Understanding Money and Financial Institutions", section 15.6 Trends in Financial Institutions_
Related questions
Why can a large payment processor spot fraud better than a single merchant can?A banking chatbot is best described as what?Which service channel costs a bank the most to provide?What is happening to branch banking as mobile services spread?What makes international banking a high-risk venture?Why can lighter regulation abroad make life hard for a bank expanding overseas?Why do large banks look beyond their own national borders?What is global cash management meant to do for a firm?