Innovations in Banking Quiz
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Questions and Answers

Which of the following is an advantage of mobile banking?

  • It requires a physical visit to the bank
  • It is only available to customers with high credit scores
  • It is less secure than traditional banking methods
  • It allows for easy and convenient access to account information (correct)

    • Which of the following is not an example of innovation in banking?

  • Mobile banking
  • Fax machines (correct)
  • ATMs
  • Blockchain technology

    • What is blockchain technology in banking?

  • A type of credit card that offers rewards for purchases
  • A type of encryption used to secure bank transactions
  • A type of bank account that is only accessible through a mobile device
  • A digital ledger that records transactions across a network of computers (correct)

    • What is the purpose of ATMs in banking?

    <p>To allow customers to deposit and withdraw money outside of bank hours</p> Signup and view all the answers

    What is the main advantage of online banking?

    <p>It allows for easy and convenient access to account information and transactions</p> Signup and view all the answers

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