Frequently Asked Questions

• What is Fintech?

  Fintech is a po🔯rtmanteau of the words “financial” and “technology,” and refers to technologies used in the financial sector of the economy. This includes things such as online banking apps, online stock brokerages, and mobile payment apps.

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• What is Moore's Law?

  Moore’s law is a name given to a prediction by Intel co-founder Gordon Mꦉoore that the number of transistors that could be put on a computer chip would roughly double every 2 years. This trend held true for several decades after it was made in the 1960’s, and the exponential increase in transistor density has continued, albeit, not at the same rat🐠e.

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• What is Quantum Computing?

  Quantum computing is a field of computing that uses the principles of quantum mechanics to change the way computers store and process information. Specifically, instead of data being🧸 stored as bits, which are individual units of binary code, they would be stored as Qubits (a portmanteau of “quantum” and “bits”). Qubits would be able to be in a quantum superposition of being both 0 or 1, which would allow significantly greaꦰt processing capability.

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• What is Open Banking?

  Open banking, is a practice that involves the sharing of financial data between financial service providers through the use of application programming interfaces (APIs). This practice could potentially open up new options to consumers and/or significantly compromise individuals' data security and privacy.

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