Question

Which of the following are new advancements and changes in finance? Information technology Insurance Banking Behavioral finance

Answer 1

All of the following are recent advancements and changes in finance

• Information technology: The integration of technology has brought about new tools and platforms for financial transactions and investment, such as online banking and trading, mobile banking, robo-advisors, and blockchain technology.

• Insurance: The insurance industry has seen changes such as the growth of insurtech, digitalization of the underwriting process, and increasing use of data analytics and telematics to price and manage risk.

• Banking: The banking industry has been impacted by digitalization, increased competition from non-traditional players, and regulatory changes, leading to the adoption of new business models and the development of new financial products and services.

• Behavioral finance: The field of behavioral finance has gained recognition in recent years, incorporating insights from psychology and economics to better understand financial decision-making and market behavior.

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