Question: a) What is API, and what are the two type of business models by API (use drawing if that helps to explain your point). b)

a) What is API, and what are the two type of business models by API (use drawing if that helps to explain your point).

b) What is banking as a platform (BaaP)? Give an example and compare it with the traditional banking (use drawing if that helps you to explain).

c) Explain two economic model by BaaP.

d) Name three characteristics of the fintechs comparing to incumbent banking and explain why they are important

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