Test Your Fintech IQ?

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| By Gabe Cook
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Gabe Cook
Community Contributor
Quizzes Created: 1 | Total Attempts: 2,198
| Attempts: 2,221
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  • 1/8 Questions

    Choose the option which best describes the state of Bank & Fintechs today

    • Enemies
    • Frenemies
    • Strategic Partnerships
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About This Quiz

Test your working knowledge of FinTechs around Atlanta and other global impacts.

Test Your Fintech IQ? - Quiz

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  • 2. 
    What are the common engagement models in Bank/Fintech partnership? - ProProfs

    What are the common engagement models in Bank/Fintech partnership?

    • White-label solutions

    • Integrated in-house solutions

    • API integrations

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    The common engagement models in Bank/Fintech partnership include white-label solutions, integrated in-house solutions, and API integrations. White-label solutions refer to the practice of a Fintech company providing its technology platform to a bank, which can then brand and customize it as their own. Integrated in-house solutions involve the Fintech company working closely with the bank to develop and implement a customized solution within the bank's existing infrastructure. API integrations involve the Fintech company providing its APIs to the bank, allowing for seamless integration of the Fintech's services into the bank's systems. Therefore, the correct answer is "All of the above."

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  • 3. 
    Top 3 cities considered as the leading Global Fintech Hubs - ProProfs

    Top 3 cities considered as the leading Global Fintech Hubs

    • Tel Aviv, San Francisco, NewYork

    • London, Shangai, SanFrancisco

    • Beijing, San Francisco, NewYork

    Correct Answer
    A. Beijing, San Francisco, NewYork
    Explanation
    This answer is incorrect. The correct answer is London, Shanghai, and San Francisco. These cities are considered as the leading global fintech hubs due to their strong presence of fintech companies, supportive regulatory environments, access to capital, and innovation ecosystems. Beijing is also a prominent fintech hub, but it is not among the top three in this context.

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  • 4. 
    Which of the following lenders have the highest share of personal loan balances (as of 2018) - ProProfs

    Which of the following lenders have the highest share of personal loan balances (as of 2018)

    • Bank

    • FinTech

    • Credit Unions

    • Parents

    Correct Answer
    A. FinTech
    Explanation
    FinTech lenders have the highest share of personal loan balances as of 2018. This means that among the listed options, FinTech lenders have the largest portion of personal loan balances compared to banks, credit unions, and parents. It suggests that FinTech companies specializing in providing loans have gained popularity and trust among borrowers, leading to a significant market share in the personal loan industry.

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  • 5. 
    Which ONE of these sectors has been impacted the MOST by Fintech innovation in the last 5 years? - ProProfs

    Which ONE of these sectors has been impacted the MOST by Fintech innovation in the last 5 years?

    • Payments (and Fund Transfers)

    • Retail/Consumer banking (Incl. Lending)

    • Investing (institutional asset management) and Wealth management (financial advice, retirement services)

    Correct Answer
    A. Retail/Consumer banking (Incl. Lending)
    Explanation
    Retail/Consumer banking has been impacted the most by Fintech innovation in the last 5 years. Fintech companies have introduced various digital banking solutions, such as mobile banking apps, online lending platforms, and innovative payment methods, which have revolutionized the way consumers interact with and manage their finances. These advancements have made banking more convenient, accessible, and efficient for retail consumers, leading to a significant impact on the retail/consumer banking sector.

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  • 6. 
    Investing and Wealth Management are the TOP two sectors within financial services that have the most FinTech Unicorns (Private firms with valuation >$1B) worldwide? - ProProfs

    Investing and Wealth Management are the TOP two sectors within financial services that have the most FinTech Unicorns (Private firms with valuation >$1B) worldwide?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Lending & payments are actually the leading financial services that are generating the most revenue for FinTechs

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  • 7. 
    Which among the following is the highest focus area for Bank/Fintech partnerships - ProProfs

    Which among the following is the highest focus area for Bank/Fintech partnerships

    • Digital Account Openings

    • Payments

    • Lending & Credit

    • Fraud/Risk Management

    Correct Answer
    A. Digital Account Openings
    Explanation
    Digital Account Openings is the highest focus area for Bank/Fintech partnerships because it allows banks and fintech companies to collaborate and provide seamless, efficient, and convenient account opening services to customers. By leveraging technology, banks and fintech companies can streamline the account opening process, eliminate paperwork, and reduce the time and effort required for customers to open an account. This partnership can lead to increased customer acquisition, improved customer experience, and enhanced operational efficiency for both parties involved.

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  • 8. 
    Choose the top 3 emerging Fintech hubs in USA? - ProProfs

    Choose the top 3 emerging Fintech hubs in USA?

    • Atlanta

    • Austin

    • Charlotte

    • Dallas

    • Miami

    • Pittsburgh

    Correct Answer(s)
    A. Atlanta
    A. Austin
    A. Miami
    Explanation
    Atlanta, Austin, and Miami are the top three emerging FinTech hubs in the USA

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Quiz Review Timeline (Updated): Mar 21, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • May 15, 2019
    Quiz Created by
    Gabe Cook

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