Nama : Sultan Chairul
Nim : 2581484737
Hello, here I want to answer the questions in the financial technology module.
A. What is the core definition of fintech, and how does it differ from traditional finance?
B. Identify and describe at least three key drivers of the recent fintech boom.
C. What are the main categories of fintech companies, and how do they differentiate themselves?
Answer :
A. Financial Technology is the use of digital technology to provide financial services that are more efficient, faster, cheaper and easier to access. while traditional finance is a service offered by banks or conventional financial institutions with a system that is more bureaucratic, slow, and usually requires face-to-face contact.
B. 1. Development of digital technology & smartphones. Fast internet, big data, AI, blockchain make financial services automatic, transparent and safe. HP makes access to financial services easier for everyone.
2. Changes in consumer behavior. The younger generation prefers online, cashless, fast transactions. Consumers also prefer simple services rather than having to go to the bank.
3. Financial inclusion (financial inclusion). Many people (especially in developing countries) don’t have a bank account → fintech is a solution by opening access to financial services via cellphone.
C. Payments & Transfers, Loans & Funding, Investment & Wealth Management, Insurtech, Blockchain & Cryptocurrency, Reg Tech. The way to differentiate yourself is that each category focuses on a different pain point — instant payments, easy loans, simple investments, or transparent insurance.