Which of the Following Are Potential Benefits of Technology for an FI

question 12

Multiple Choice

Which of the following are potential benefits of technology for an FI?

• A)Improved service quality, especially for customers of large banks.
• B)The rate of innovation of new products can be increased.
• C)FIs can more easily cross-market new and existing products to customers.
• D)Improved flexibility in financial transactions for retail customers.
• E)All of the options.

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Definitions:

Time Preference

The inclination of individuals to prefer goods and services in the present rather than in the future.

Time Preference

This concept describes individuals' preference for immediate benefits over future ones, influencing their decisions on saving, investing, and consumption.

Time Preference

An individual's preference for receiving goods or services sooner rather than later.

Capital Goods

Long-term physical assets used in the production of goods or services, such as machinery and buildings.