Banking Industry and ICT

What is the role of technology in the future of banking?

It only helps in communication with customers
It only improves internal banking systems
It is an optional tool for banks
It is fundamental to the future of banking (correct)

What is the result of banks investing in ICT platforms and information systems?

Decreased customer satisfaction
Reduced customer services
Increased inherent risks
Improved product features and reduced operating costs (correct)

What services do banks in Bangladesh offer to their customers?

Only POS services
Only ATM services
Electronic payment services, Mobile Banking, and Internet Banking (correct)
Only cash transactions

What is the benefit of technology in banking?

Improved banking efficiency and effectiveness (B) Signup and view all the answers

What is the significance of ICT in the banking sector?

It helps in improving business processes and managerial decision making (A) Signup and view all the answers

What is the result of banks establishing large ATM and POST networks?

24/7 customer services (B) Signup and view all the answers

What is a major disadvantage of coaxial cable compared to twisted-pair wire?

It is more expensive and difficult to work with (A) Signup and view all the answers

How do fiber-optic cables transmit information?

Through light pulses generated by lasers (A) Signup and view all the answers

What is the main advantage of fiber-optic cables compared to traditional cable media?

They are smaller and lighter (A) Signup and view all the answers

What is the typical use of fiber-optic cable in a network?

As the backbone for a network (B) Signup and view all the answers

What is the frequency range of microwave signals?

300 MHz–300 GHz (C) Signup and view all the answers

What is a common use of microwave connections?

For point-to-point communications (B) Signup and view all the answers

What was the total number of transactions in 2020 for Internet Banking services?

2,44,30,983 (C) Signup and view all the answers

What is one of the challenges faced by banks regarding Internet Banking?

Customers sharing their credentials with relatives or friends (B) Signup and view all the answers

What is a limitation for corporate customers using Internet Banking services?

Present fund transfer ceiling (B) Signup and view all the answers

Why do customers get locked with their User ID?

They forget their security credentials often (B) Signup and view all the answers

What is the primary distinction between the frontend and backend of a website?

The frontend is responsible for user interaction, while the backend is responsible for storing data. (D) Signup and view all the answers

What is a challenge faced by banks in terms of customer awareness?

Lack of awareness against phishing and IP tracing (C) Signup and view all the answers

What is the term for the process of constructing, producing, and managing websites?

Web development (C) Signup and view all the answers

What is a consequence of using mobile SMS as 2FA?

Customers are dissatisfied with the service (A) Signup and view all the answers

What is the primary purpose of the backend of a website?

To store and organize data (B) Signup and view all the answers

What is the role of JavaScript in web development?

It is used for frontend development (C) Signup and view all the answers

What type of websites are only accessible over a private network?

Private websites (D) Signup and view all the answers

What is the World Wide Web comprised of?

All publicly accessible websites (D) Signup and view all the answers

What is a primary goal of implementing ITO in banks?

To save time and money while introducing flexibility (B) Signup and view all the answers

What is a common outcome of banks keeping everything in-house?

Development of vertically integrated silos (D) Signup and view all the answers

What is a benefit of outsourcing IT capability to a third-party expert?

Positive impact on the bottom line (B) Signup and view all the answers

What is a challenge faced by financial institutions?

Strategic planning (C) Signup and view all the answers

What can outsourcing enable organizations to achieve?

Improve operational performance and reduce operational risk (D) Signup and view all the answers