Recently seen in news, Finternet
1. is a system that interconnects financial ecosystems through the internet.
2. enables seamless financial asset transfer of any amount, anytime, anywhere, through any device.

Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Question

Recently seen in news, Finternet
1. is a system that interconnects financial ecosystems through the internet.
2. enables seamless financial asset transfer of any amount, anytime, anywhere, through any device.

Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

ONLiNE UPSC · Accepted Answer

&ldquo;Finternet&rdquo; is multiple financial ecosystems interconnected with each other through the internet. It would lower barriers between different financial services and systems, drastically reducing the complex clearing and messaging chains and other frictions that hinder today&rsquo;s. financial system. It will allow smooth and instant transfer of any financial asset, of any value, at any time, from anywhere, and across any device. Recently, many notable individuals have supported the idea of Finternet to empower businesses.

Financial Technology (Fintech)

Finternet

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M Question 1	⏱ 0
Recently seen in news, Finternet 1. is a system that interconnects financial ecosystems through the internet. 2. enables seamless financial asset transfer of any amount, anytime, anywhere, through any device. Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2