Which of the following is a feature of the 'Fintech' revolution in financial services?
A. Only the use of paper-based processes
B. The complete replacement of all traditional banks overnight
C. The use of technology to deliver financial services in new ways, often by non-traditional providers
D. Only the activities of central banks
Answer: Option C
Solution (By JKSSB Mock Tests)
Fintech refers to technological innovation in the design and delivery of financial services, encompassing payments, lending, insurance, wealth management and other activities often provided by new entrants.
Explanation:
The Ghent system, historically associated with certain Nordic and Low Countries, links unemployment benefits to union membership or administration, thereby providing a selective incentive for workers to join unions.
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