28.5. Impact on Traditional Financial Institutions

Try these first

1. 1.

   What is one challenge traditional financial institutions face?

   Hint

   Consider companies that use technology to provide finance services.

2. 2.

   Name one opportunity for traditional banks with the rise of FinTech.

   Hint

   Think about how technology can facilitate operations.

3. 3.

   What is a major challenge for traditional financial institutions due to FinTech?

   • High interest rates
   • Regulatory changes
   • Competition from startups

   Hint

   Think about the rapidly evolving landscape of financial services.

4. 4.

   True or False: Traditional financial institutions have no opportunities due to the rise of FinTech.

   • True
   • False

   Hint

   Consider the benefits that technology can provide.

5. 5.

   Discuss the strategic changes traditional banks must undertake to stay relevant in the FinTech era.

   Hint

   Consider the steps required for a company to evolve.

6. 6.

   How can cybersecurity threats shape the business strategy of traditional financial institutions?

   Hint

   Think about protective measures in business.