Internet Banking Challenges
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Questions and Answers

What was the number of customers of Internet Banking services in 2020?

  • 27,42,241
  • 1,98,97,516
  • 32,45,333 (correct)
  • 2,44,30,983

    • What is a major challenge faced by banks regarding Internet Banking?

  • Lack of budget for purchasing IT tools
  • High cost of internet services
  • Insufficient features in software
  • Cyber-attack and customer awareness (correct)

    • What do customers often forget, leading to them getting locked with their User ID?

  • User ID
  • Security credentials (correct)
  • Username
  • Password

    • Why do customers become dissatisfied with the use of mobile SMS as 2FA?

    <p>Customers receive SMS with a little delay</p> Signup and view all the answers

    What is a limitation faced by banks regarding Internet Banking security?

    <p>Limited budget for purchasing security tools and applications</p> Signup and view all the answers

    What is the primary purpose of alternative delivery channels in the banking sector?

    <p>To deliver banking services more efficiently to customers</p> Signup and view all the answers

    What is the result of the introduction of computer and internet facility in the banking industry?

    <p>All banks have adopted core banking solution (CBS) platform</p> Signup and view all the answers

    What is the fundamental rule about information on the Web?

    <p>User beware</p> Signup and view all the answers

    What is the impact of change in banking sector on the needs of the people?

    <p>It has increased the needs of the people</p> Signup and view all the answers

    What is the characteristic of the Web that allows anyone to post information on it?

    <p>Democratic</p> Signup and view all the answers

    What has helped the banking sector to improve its efficiency and effectiveness of services offered to customers?

    <p>ICT</p> Signup and view all the answers

    What has provided banks with multiple and constantly emerging channels to communicate with customers and analyze their behaviors?

    <p>Technology</p> Signup and view all the answers

    What is the primary goal of banks in Bangladesh by investing in ICT platforms and Information systems?

    <p>To provide online financial services to its customers</p> Signup and view all the answers

    What services do banks in Bangladesh offer to its customers through electronic payment services?

    <p>Virtual cash, ATM/POS, Mobile Banking, Internet and Apps Banking</p> Signup and view all the answers

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

    <p>State-of-the-art product features and reduced operating costs</p> Signup and view all the answers

    What is the primary function of a Card Reader in an ATM?

    <p>To read the chip on the front of the card or the magnetic stripe on the back of the card</p> Signup and view all the answers

    What can be avoided by using an ATM operated directly by the bank that holds the account?

    <p>Fees for ATM services</p> Signup and view all the answers

    What is the purpose of the keypad in an ATM?

    <p>To input information, including personal identification number (PIN), transaction type, and amount</p> Signup and view all the answers

    What is the function of the Cash Dispenser in an ATM?

    <p>To dispense cash through a slot connected to a safe</p> Signup and view all the answers

    What type of transactions can be performed at an ATM?

    <p>Quick self-service transactions such as deposits, cash withdrawals, bill payments, and transfers between accounts</p> Signup and view all the answers

    What is the primary goal of the Bank's Technology initiatives?

    <p>To provide convenience banking to customers on 24 X 7 basis</p> Signup and view all the answers

    What is the purpose of the deployment of a single Core Banking Solution platform?

    <p>To integrate various delivery channels</p> Signup and view all the answers

    What are the integrated delivery channels mentioned in the text?

    <p>ATM, Internet, Phone, Mobile, Kiosk, and Call Centre</p> Signup and view all the answers

    What is the benefit of the communication system mentioned in the text?

    <p>It makes it easy to send a message to every customer</p> Signup and view all the answers

    What is the scope of the Bank's Technology deployment?

    <p>Not restricted to only core banking solution</p> Signup and view all the answers

    What is a key benefit of having consolidated customer, business, and transactional data for a bank?

    <p>To make informed decisions and recommend suitable financial products</p> Signup and view all the answers

    How do mobile apps and Net Banking facilities benefit customers?

    <p>They allow customers to access their accounts from anywhere</p> Signup and view all the answers

    What is an important feature of core banking software?

    <p>Dual authentication processes</p> Signup and view all the answers

    Why is it important for a banking solution to communicate with customers?

    <p>To inform customers about account issues</p> Signup and view all the answers

    What is a benefit of virtual banking?

    <p>It improves customer engagement in banking</p> Signup and view all the answers

    What is the role of the IT Department in the bank?

    <p>To provide IT services to employees and support information systems</p> Signup and view all the answers

    What is one of the applications integrated into the bank's system?

    <p>Customer Relationship Management</p> Signup and view all the answers

    What is the benefit of the bank's IT infrastructure?

    <p>Enhanced customer experience with state-of-the-art technology</p> Signup and view all the answers

    What is provided by the Data Warehouse?

    <p>Critical MIS for timely business decisions</p> Signup and view all the answers

    What is the purpose of the bank's CBS?

    <p>To enable customers with state-of-the-art technology</p> Signup and view all the answers

    What is one of the services offered by the bank's Internet Payment gateway?

    <p>E-commerce services</p> Signup and view all the answers

    What is integrated into the bank's system apart from Enterprise wide General Ledger?

    <p>All of the above</p> Signup and view all the answers

    What is the role of IT development projects?

    <p>To implement new IT services</p> Signup and view all the answers

    What is the benefit of the bank's initiatives?

    <p>Enhanced customer experience with state-of-the-art technology</p> Signup and view all the answers

    What is the function of the Data Warehouse?

    <p>To provide critical MIS for timely business decisions</p> Signup and view all the answers

    What is one of the applications integrated into the bank's system?

    <p>All of the above</p> Signup and view all the answers

    What is the primary objective of alternative delivery channels in the banking sector?

    <p>To provide 24x7 banking services to customers</p> Signup and view all the answers

    What is the main benefit of digital banking and electronic banking in the Alternative Delivery Channel (ADC)?

    <p>Higher points with lower operational and transaction costs</p> Signup and view all the answers

    What is the impact of the use of internet and smartphones on the banking industry?

    <p>Changed the physical appearance of the banking industry</p> Signup and view all the answers

    What is the purpose of alternative delivery channels in banking sector from the bank's point of view?

    <p>To reach a wide range of customers across the country</p> Signup and view all the answers

    What is the benefit of using alternative delivery channels in banking sector?

    <p>Increased productivity of the banking system</p> Signup and view all the answers

    What is the primary function of a Card Reader in an ATM?

    <p>To read the chip on the front of the card or the magnetic stripe on the back of the card</p> Signup and view all the answers

    Which of the following is an example of an alternative delivery channel in the banking sector?

    <p>Internet Banking</p> Signup and view all the answers

    What is the purpose of the Printer in an ATM?

    <p>To print receipts</p> Signup and view all the answers

    Fees are commonly charged for which banking service?

    <p>ATM services</p> Signup and view all the answers

    What is the purpose of the Cash Dispenser in an ATM?

    <p>To dispense cash to customers</p> Signup and view all the answers

    What has led to an increase in the needs of people in the banking sector?

    <p>Introduction of computer and internet facility</p> Signup and view all the answers

    What is the primary purpose of alternative delivery channels in the banking sector?

    <p>To increase the efficiency of services offered to customers</p> Signup and view all the answers

    What has changed the shape of human life in the banking sector?

    <p>Change in banking sector</p> Signup and view all the answers

    What is a key characteristic of the Web that allows anyone to post information on it?

    <p>It is a democratic platform</p> Signup and view all the answers

    What has provided banks with multiple and constantly emerging channels to communicate with customers and analyze their behaviors?

    <p>Introduction of computer and internet facility</p> Signup and view all the answers

    What percentage of banks in Bangladesh offer ATM services?

    <p>95%</p> Signup and view all the answers

    What is the primary purpose of chatbots in banking?

    <p>To handle customer queries simultaneously</p> Signup and view all the answers

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

    <p>2,44,30,983</p> Signup and view all the answers

    What percentage of banks in Bangladesh have promoted mobile banking apps for their customers?

    <p>62%</p> Signup and view all the answers

    What is the primary benefit of alternative delivery channels in banking?

    <p>To increase customer convenience</p> Signup and view all the answers

    What is a major challenge faced by banks regarding Internet Banking?

    <p>All of the above</p> Signup and view all the answers

    What is the primary purpose of social media in banking?

    <p>To generate brand awareness</p> Signup and view all the answers

    Why do customers get locked with their User ID?

    <p>They forget their security credentials</p> Signup and view all the answers

    What is a limitation faced by banks regarding Internet Banking security?

    <p>Dependency on CBS vendor and limitation of budget</p> Signup and view all the answers

    What is a challenge for customers using Internet Banking transactional services?

    <p>Cyber-attack and customer awareness</p> Signup and view all the answers

    What is the primary purpose of kiosk banking?

    <p>To ensure financial security of all citizens of the country, regardless of their location</p> Signup and view all the answers

    What is the characteristic of Internet Banking that makes it a preferred option?

    <p>It is the most powerful real-time online banking with least cost</p> Signup and view all the answers

    What is the primary benefit of Alternative Delivery Channels (ADCs) in banking?

    <p>To provide customers with multiple channels to access banking services</p> Signup and view all the answers

    How do kiosks act as a touchpoint for banks and customers?

    <p>By allowing customers to initiate requests that are transferred to the nearest branch</p> Signup and view all the answers

    What is the primary advantage of Internet Banking over traditional banking?

    <p>It allows customers to pay bills and transfer funds from anywhere</p> Signup and view all the answers

    What is the primary purpose of alternative delivery channels in banking?

    <p>To provide banking services to remote and underprivileged populations</p> Signup and view all the answers

    What is an example of an alternative delivery channel in banking?

    <p>Agent banking</p> Signup and view all the answers

    What is the benefit of using electronic wallets?

    <p>Convenient and cashless payment</p> Signup and view all the answers

    What is the main advantage of banking apps?

    <p>Convenient access to banking services remotely</p> Signup and view all the answers

    What is the primary goal of banks in investing in electronic banking infrastructure?

    <p>To provide banking services to remote and underprivileged populations</p> Signup and view all the answers

    What is the main benefit of agent banking?

    <p>Convenient access to banking services in remote locations</p> Signup and view all the answers

    What is the primary purpose of electronic wallets?

    <p>To provide a convenient way to transfer funds electronically</p> Signup and view all the answers

    What is the main advantage of alternative delivery channels in banking?

    <p>Cost-effective and convenient delivery of banking services</p> Signup and view all the answers

    What is the primary goal of banks in investing in alternative delivery channels?

    <p>To provide banking services to remote and underprivileged populations</p> Signup and view all the answers

    What is the main benefit of using mobile banking apps?

    <p>Convenient access to banking services remotely</p> Signup and view all the answers

    What is the primary purpose of authentication in data access control?

    <p>To verify the identity of the entity trying to access the database</p> Signup and view all the answers

    What is the function of accounting in data access control?

    <p>To measure the resources used by a user during access</p> Signup and view all the answers

    What is the primary goal of authorization in data access control?

    <p>To determine the level of access a user has to the database</p> Signup and view all the answers

    What is a multifactor authentication system used for?

    <p>To verify the identity of the entity trying to access the database</p> Signup and view all the answers

    What is the primary purpose of a data center?

    <p>To store and manage business-critical data and applications</p> Signup and view all the answers

    What is included in data center design?

    <p>Routers, switches, firewalls, storage systems, servers, and application delivery controllers</p> Signup and view all the answers

    What are the three primary components of data access control?

    <p>Authentication, Authorization, and Accounting</p> Signup and view all the answers

    Why is data center security critical?

    <p>Because it houses an organization's most critical and proprietary assets</p> Signup and view all the answers

    What is a key characteristic of a data center?

    <p>It is a facility that centralizes an organization's shared IT operations and equipment</p> Signup and view all the answers

    What is a key requirement of a data center?

    <p>To offer a secure environment that minimizes the chances of a security breach</p> Signup and view all the answers

    What is one of the most common IT services that a bank can outsource?

    <p>Transaction Processing including payments, loans, deposits</p> Signup and view all the answers

    What is the primary purpose of a bank's Cash Management and Collections service?

    <p>To manage cash flows and optimize collections</p> Signup and view all the answers

    What is a key benefit of outsourcing Technology Infrastructure Management, Maintenance and Support?

    <p>Cost savings and access to specialized expertise</p> Signup and view all the answers

    What is one of the primary roles of the ICT department in a bank?

    <p>To develop and maintain IT systems and infrastructure</p> Signup and view all the answers

    Why do banks need to outsource some IT jobs?

    <p>To reduce costs and access specialized expertise</p> Signup and view all the answers

    What is the impact of technological advancements on global funds transfer?

    <p>Significantly reduced cost</p> Signup and view all the answers

    What is the role of ICT in the banking sector in Bangladesh?

    <p>It is the heart of the banking sector</p> Signup and view all the answers

    What do customers expect from banks due to technological advancements?

    <p>To bank at any time and from any location</p> Signup and view all the answers

    What is the purpose of ICT in banking?

    <p>To meet the high expectations of customers</p> Signup and view all the answers

    What has led to an increase in the needs of people in the banking sector?

    <p>The uprising of Information Technology</p> Signup and view all the answers

    What is the most important aspect to consider when accessing information on the Web?

    <p>The user's responsibility to verify information</p> Signup and view all the answers

    What is a result of the introduction of computer and internet facilities in the banking industry?

    <p>Adoption of core banking solution (CBS) platforms</p> Signup and view all the answers

    What is a characteristic of the Web that allows for democratic information sharing?

    <p>Anyone can post information</p> Signup and view all the answers

    What has changed day-to-day operations of banks?

    <p>Alternative delivery channels in banking sector</p> Signup and view all the answers

    What is a key driver of change in the banking sector?

    <p>Advancements in computer and internet facilities</p> Signup and view all the answers

    What is the primary function of a database management system?

    <p>To enter, organize, and select data in a database</p> Signup and view all the answers

    What is the result of grouping bits together in a computer system?

    <p>A byte</p> Signup and view all the answers

    What is the term for data that has been processed, organized, and structured?

    <p>Information</p> Signup and view all the answers

    What is a database often compared to?

    <p>An electronic filing system</p> Signup and view all the answers

    What is the term for a collection of related records in a database?

    <p>A file</p> Signup and view all the answers

    What is the main function of the IT Department in the bank?

    <p>To develop the IT infrastructure used at the bank</p> Signup and view all the answers

    What is IT outsourcing (ITO) in the context of a financial institution?

    <p>A process of delegating in-house operations to a third party</p> Signup and view all the answers

    What is one of the divisions under the IT Department?

    <p>IT Management Division</p> Signup and view all the answers

    What is the purpose of the IT Department in relation to IT system security?

    <p>To maintain constant IT system security</p> Signup and view all the answers

    What is the role of the Chief Information Technology Officer?

    <p>To lead the IT Department</p> Signup and view all the answers

    What is one of the functions of the IT Department?

    <p>Business systems</p> Signup and view all the answers

    What is the purpose of separating IT divisions?

    <p>To facilitate separation of duties and focus on critical areas</p> Signup and view all the answers

    What is the role of the IT Department in relation to the Central Bank and supervised financial market participants?

    <p>To keep in contact and coordinate actions</p> Signup and view all the answers

    What is one of the benefits of outsourcing IT jobs?

    <p>Increased efficiency and cost savings</p> Signup and view all the answers

    What is the primary goal of the IT Department in relation to IT infrastructure?

    <p>To develop and maintain the IT infrastructure used at the bank</p> Signup and view all the answers

    What is the primary purpose of authentication in data access control?

    <p>To validate the identity of the user</p> Signup and view all the answers

    What is the primary function of authorization in data access control?

    <p>To determine the level of access and activities allowed</p> Signup and view all the answers

    What is the purpose of accounting in data access control?

    <p>To measure the resources used by a user</p> Signup and view all the answers

    What is the purpose of a multifactor authentication system?

    <p>To validate the user's identity</p> Signup and view all the answers

    What are the three primary components of data access control?

    <p>Authentication, Authorization, and Accounting</p> Signup and view all the answers

    What is the term used to describe data that has been organized and structured?

    <p>Processed Information</p> Signup and view all the answers

    What is the primary purpose of managing data in a bank?

    <p>To manage it like other important business assets</p> Signup and view all the answers

    What is the main focus of Chapter 4 in the Advance Level IT Manual for NCC Bank Limited?

    <p>Data Management in Online Banks</p> Signup and view all the answers

    Why is data management important in a bank?

    <p>To manage it like other important business assets</p> Signup and view all the answers

    What is the main theme of the text in Chapter 4?

    <p>Data Management and Organization</p> Signup and view all the answers

    What is the primary characteristic of the Web that allows anyone to post information on it?

    <p>Democracy</p> Signup and view all the answers

    What is the fundamental rule about information on the Web?

    <p>User beware!</p> Signup and view all the answers

    What has led to an increase in the needs of the people in the banking sector?

    <p>Change in banking sector</p> Signup and view all the answers

    What is the result of the introduction of computer and internet facility in the banking industry?

    <p>All banks have adopted core banking solution (CBS) platform</p> Signup and view all the answers

    What is the primary purpose of alternative delivery channels in banking?

    <p>To provide a convenient way to access banking services</p> Signup and view all the answers

    What is the primary function of a data center?

    <p>To provide a secure environment for housing an organization's IT operations</p> Signup and view all the answers

    What components are typically included in data center design?

    <p>Routers, switches, firewalls, storage systems, servers, and application delivery controllers</p> Signup and view all the answers

    Why is data center security critical in data center design?

    <p>Because they house an organization's most critical and proprietary assets</p> Signup and view all the answers

    What is the primary goal of a data center?

    <p>To ensure the continuity of daily operations</p> Signup and view all the answers

    What is the main benefit of having a secure data center environment?

    <p>Minimized chances of a security breach</p> Signup and view all the answers

    What has significantly reduced the cost of global funds transfer?

    <p>ICT development and global networks</p> Signup and view all the answers

    What do customers expect from banks in terms of banking?

    <p>To bank at any time and from any location</p> Signup and view all the answers

    What has become the heart of the banking sector in Bangladesh?

    <p>ICT</p> Signup and view all the answers

    What enables banks to meet the high expectations of customers?

    <p>ICT</p> Signup and view all the answers

    What has ushered in a global surge in financial activity?

    <p>Uprising of information technology</p> Signup and view all the answers

    What is the primary function of a database?

    <p>To store and manage data in a hierarchical structure</p> Signup and view all the answers

    What is the relationship between data and information?

    <p>Data is processed into information</p> Signup and view all the answers

    What is the purpose of a database management system (DBMS)?

    <p>To enter, organize, and select data in a database</p> Signup and view all the answers

    What is the hierarchy of data organization in a computer system?

    <p>Bit, byte, field, record, file, database</p> Signup and view all the answers

    What is an example of a popular database software or DBMS?

    <p>Microsoft Access</p> Signup and view all the answers

    What is the primary advantage of using multiple nodes in a distributed database?

    <p>Providing more computing power and greater availability</p> Signup and view all the answers

    What is the primary function of a database administrator?

    <p>Managing and maintaining DBMS software</p> Signup and view all the answers

    What is a characteristic of a distributed database?

    <p>Multiple interconnected databases spread out across several sites</p> Signup and view all the answers

    What is a disadvantage of a distributed database?

    <p>Costly software</p> Signup and view all the answers

    What is the primary goal of a database administrator in terms of database accessibility?

    <p>To ensure the database is always accessible when required</p> Signup and view all the answers

    What is a benefit of using a distributed database?

    <p>Lower communication cost and better response</p> Signup and view all the answers

    What is the primary role of a database administrator in an organization?

    <p>To manage and maintain database management systems</p> Signup and view all the answers

    What is a characteristic of distributed databases in terms of data storage?

    <p>Data is distributed among multiple physical locations</p> Signup and view all the answers

    What is the primary advantage of distributed databases in terms of processing power?

    <p>Increased processing power due to multiple nodes</p> Signup and view all the answers

    What is the primary goal of database administration in terms of data availability?

    <p>To ensure data is always available when required</p> Signup and view all the answers

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

    <p>2,44,30,983</p> Signup and view all the answers

    What is a major challenge faced by banks regarding Internet Banking?

    <p>Lack of awareness among customers about phishing and IP tracing</p> Signup and view all the answers

    What happens when customers forget their security credentials?

    <p>They get locked with their User ID</p> Signup and view all the answers

    What is a limitation faced by banks regarding Internet Banking security?

    <p>Dependency on CBS vendor</p> Signup and view all the answers

    What happens when customers use mobile SMS as 2FA?

    <p>They receive SMS with a little delay</p> Signup and view all the answers

    What has led to an increase in the needs of the people and changed the shape of human life in the banking sector?

    <p>Introductions of computers and internet facility</p> Signup and view all the answers

    What has changed the day-to-day operations of banks?

    <p>Introduction of computers and internet facility</p> Signup and view all the answers

    What is a characteristic of the Web that allows anyone to post information on it?

    <p>It is democratic in nature</p> Signup and view all the answers

    What has provided banks with multiple and constantly emerging channels to communicate with customers and analyze their behaviors?

    <p>Technological advancements</p> Signup and view all the answers

    What is the fundamental rule about information on the Web?

    <p>User beware!</p> Signup and view all the answers

    What is the primary purpose of ICT in the banking sector?

    <p>To enhance the efficiency and effectiveness of services offered to customers</p> Signup and view all the answers

    What are the main channels through which banks in Bangladesh provide online financial services to customers?

    <p>Through multiple channels such as ATM, POS, Mobile Banking, Internet and Apps Banking</p> Signup and view all the answers

    What is one of the benefits of technology in the banking sector?

    <p>Improving banks' internal systems and processes</p> Signup and view all the answers

    What is one of the services offered by banks in Bangladesh through electronic payment services?

    <p>Electronic payment services through virtual cash and e-cards</p> Signup and view all the answers

    What has been established by banks in Bangladesh to provide 24/7 customer services?

    <p>Large ATM and POST networks</p> Signup and view all the answers

    What is the goal of the Bank's Technology initiatives?

    <p>To provide customers convenience banking on 24 X 7 basis</p> Signup and view all the answers

    What is the benefit of the single Core Banking Solution platform?

    <p>It provides integrated delivery channels</p> Signup and view all the answers

    What is a key feature of the Bank's electronic banking infrastructure?

    <p>It is available 24 X 7 for customers</p> Signup and view all the answers

    What is the role of the ICT Department in the bank?

    <p>To implement technology with a customer-focused approach</p> Signup and view all the answers

    What is an example of an integrated delivery channel in the bank's electronic banking infrastructure?

    <p>Phone banking</p> Signup and view all the answers

    What is the primary function of a Card Reader in an ATM?

    <p>To read the chip on the front of the card or the magnetic stripe on the back of the card</p> Signup and view all the answers

    What is a common fee associated with using ATMs?

    <p>Fees for using an ATM not operated directly by the bank that holds the account</p> Signup and view all the answers

    What is the purpose of the keypad in an ATM?

    <p>To allow customers to input information, including personal identification number (PIN), the type of transaction required, and the amount of the transaction</p> Signup and view all the answers

    What is a common transaction that can be performed at an ATM?

    <p>Bill payment</p> Signup and view all the answers

    What is a component of an ATM that dispenses cash to customers?

    <p>Cash Dispenser</p> Signup and view all the answers

    What is the primary purpose of a mobile banking app?

    <p>To allow customers to access their accounts from anywhere</p> Signup and view all the answers

    What is a key feature of core banking software?

    <p>Top-notch security integration across all verticals</p> Signup and view all the answers

    What is the primary advantage of accurate data management in banking?

    <p>Recommendation of the right financial products to customers</p> Signup and view all the answers

    What is the main benefit of integrating business, customer, and transactional data in banking?

    <p>Informed decision-making for banks</p> Signup and view all the answers

    Why is it important for banks to have a secure data center environment?

    <p>To prevent money mismanagement and fraudulent transactions</p> Signup and view all the answers

    What does the bank's IT infrastructure provide to its customers?

    <p>State-of-the-art technology with human interface</p> Signup and view all the answers

    What is the objective of the IT Department?

    <p>To take care of IT infrastructure and provide IT services to employees and supervise information systems</p> Signup and view all the answers

    What does the internet payment gateway offer?

    <p>E-commerce services</p> Signup and view all the answers

    What does the bank's system provide through data warehousing?

    <p>Only critical MIS</p> Signup and view all the answers

    What is integrated into the bank's system?

    <p>Multiple applications providing a seamless customer experience</p> Signup and view all the answers

    What is the benefit of the bank's IT infrastructure?

    <p>State-of-the-art technology with human interface</p> Signup and view all the answers

    What is the scope of the bank's technology deployment?

    <p>Enterprise-wide General Ledger to Risk Management and beyond</p> Signup and view all the answers

    What does the bank's system provide to customers?

    <p>A seamless experience across all segments and lines of business</p> Signup and view all the answers

    What is the role of the IT Department in relation to the bank's infrastructure?

    <p>To take care of IT infrastructure and provide IT services</p> Signup and view all the answers

    What is the importance of data warehousing in the bank's system?

    <p>For timely business decision-making</p> Signup and view all the answers

    What is the guaranteed availability percentage of a Tier 4 data center?

    <p>99.995%</p> Signup and view all the answers

    What is the purpose of a Disaster Recovery (DR) site?

    <p>To recover and restore technology infrastructure and operations</p> Signup and view all the answers

    What are the three major types of Disaster Recovery sites?

    <p>Cold, Warm, and Hot</p> Signup and view all the answers

    What is the purpose of having a secondary data center?

    <p>To prevent data loss in the event of cyber-attacks or a natural disaster</p> Signup and view all the answers

    What is the minimum downtime allowed per year in a Tier 4 data center?

    <p>26.3 minutes</p> Signup and view all the answers

    What is the primary purpose of data center tiers?

    <p>To provide a standardized ranking system for data center infrastructure</p> Signup and view all the answers

    What is characteristic of a Tier 1 data center?

    <p>It is a type of data center that has only one source of servers and network links</p> Signup and view all the answers

    What is the ranking system used to classify data centers?

    <p>From 1 to 4, with 1 being the worst and 4 being the best</p> Signup and view all the answers

    What is the organization that determines the facility level of data centers?

    <p>The Uptime Institute</p> Signup and view all the answers

    What is the term for personnel available to monitor operations and maintain IT and infrastructure equipment around the clock?

    <p>Operations staff</p> Signup and view all the answers

    What is the primary function of a data center?

    <p>To centralize an organization's shared IT operations and equipment</p> Signup and view all the answers

    What is a critical aspect of data center design?

    <p>Data center security</p> Signup and view all the answers

    What is housed in a data center?

    <p>Computer systems and associated components</p> Signup and view all the answers

    What is the primary goal of a data center?

    <p>To offer a secure environment for hosted computer systems</p> Signup and view all the answers

    What is a key characteristic of a data center?

    <p>It is a building or a dedicated space within a building</p> Signup and view all the answers

    What is the minimum uptime guarantee of a Tier 3 data center?

    <p>99.982%</p> Signup and view all the answers

    What is the key feature of a Tier 4 data center?

    <p>Redundant and dual-powered instances</p> Signup and view all the answers

    Which tier of data center combines and exceeds features of Tier 1 and Tier 2 data centers?

    <p>Tier 3</p> Signup and view all the answers

    What is the primary advantage of a Tier 4 data center?

    <p>Redundant capacity and infrastructure</p> Signup and view all the answers

    What is the term for a Tier 3 data center?

    <p>Level 3 data center</p> Signup and view all the answers

    What is a primary element of a data center?

    <p>Facility</p> Signup and view all the answers

    What is included in the support infrastructure of a data center?

    <p>UPS, environmental control, and physical security systems</p> Signup and view all the answers

    What is a critical aspect of data center design?

    <p>Designing for environmental control</p> Signup and view all the answers

    What is a key component of the core components in a data center?

    <p>Storage systems</p> Signup and view all the answers

    What is a key function of environmental control in a data center?

    <p>Maintaining specific temperature and humidity ranges</p> Signup and view all the answers

    What is the typical availability guarantee of a Tier 1 data center?

    <p>99.671%</p> Signup and view all the answers

    What is a characteristic of a Tier 2 data center?

    <p>Multiple sources of servers and network links</p> Signup and view all the answers

    How much downtime per year is typical for a Tier 1 data center?

    <p>28.8 hours</p> Signup and view all the answers

    What is the primary difference between a Tier 1 and a Tier 2 data center?

    <p>Redundancy in data center components</p> Signup and view all the answers

    What type of businesses typically use a Tier 2 data center?

    <p>Medium-sized businesses</p> Signup and view all the answers

    What does a cold site lack until an organization activates DR plans and installs equipment?

    <p>Servers and storage</p> Signup and view all the answers

    Why is it important for a DR site to be on a different power grid than the organization's primary data center?

    <p>To minimize the impact of a major disaster</p> Signup and view all the answers

    What is a consideration for an organization when deciding on the location of a DR site?

    <p>All of the above</p> Signup and view all the answers

    What is the primary limitation of using a cold site?

    <p>It requires backup data and hardware to be sent and installed</p> Signup and view all the answers

    What is the purpose of a cold site in disaster recovery?

    <p>To serve as a backup data center</p> Signup and view all the answers

    What is the benefit of having a DR site close to the primary data center?

    <p>It allows for easier staff management</p> Signup and view all the answers

    What is digital core banking?

    <p>Banking technology that provides access to traditional core banking activities</p> Signup and view all the answers

    What is a consideration for an organization when deciding on the location of a DR site in terms of distance?

    <p>It should be far enough away that a major disaster does not impact both places</p> Signup and view all the answers

    What is the primary benefit of using a cold site?

    <p>It supplements hot and warm sites in the event of a disaster</p> Signup and view all the answers

    What is a key consideration for an organization when deciding on the location of a DR site?

    <p>All of the above</p> Signup and view all the answers

    What is the primary function of a data center?

    <p>To centralize an organization's shared IT operations and equipment</p> Signup and view all the answers

    What is critical in data center design?

    <p>Data security</p> Signup and view all the answers

    What is the primary purpose of Data Center Tier classification?

    <p>To rank facilities based on reliability</p> Signup and view all the answers

    What is the primary characteristic of a Tier 1 data center?

    <p>It has a single source of servers and network links</p> Signup and view all the answers

    What is typically included in data center design?

    <p>Routers, switches, firewalls, and storage systems</p> Signup and view all the answers

    What is the Uptime Institute responsible for?

    <p>Determining the facility level of data centers</p> Signup and view all the answers

    Why is data center security crucial?

    <p>To minimize the chances of a security breach</p> Signup and view all the answers

    What is the driving force behind the shift from on-premises servers to virtualized infrastructure?

    <p>The requirement for on-demand services</p> Signup and view all the answers

    What is a data center typically used for?

    <p>Storing and managing business-critical data and applications</p> Signup and view all the answers

    What is the ranking range for data center tiers?

    <p>1-4</p> Signup and view all the answers

    What is the primary purpose of a Disaster Recovery (DR) site?

    <p>To provide a secondary location for data storage in case of a disaster</p> Signup and view all the answers

    What is the guaranteed availability percentage of a Tier 4 data center?

    <p>99.995%</p> Signup and view all the answers

    What is the purpose of having a secondary data center (SDC) or alternative data center (ADC)?

    <p>To ensure business continuity and minimize data loss in case of a disaster</p> Signup and view all the answers

    What is a characteristic of a Tier 4 data center?

    <p>It guarantees 99.995% availability with 26.3 minutes of downtime per year</p> Signup and view all the answers

    What are the three major types of disaster recovery sites?

    <p>Cold, warm, and hot sites</p> Signup and view all the answers

    What is a characteristic of a Tier 3 data center?

    <p>Dual-powered servers, storage, network links and other IT components</p> Signup and view all the answers

    What is the guaranteed availability of a Tier 3 data center?

    <p>99.982 percent</p> Signup and view all the answers

    What is the main difference between a Tier 3 and a Tier 4 data center?

    <p>Tier 4 has redundant and dual-powered instances of servers</p> Signup and view all the answers

    What is a benefit of a Tier 3 data center?

    <p>Minimal planned and unplanned downtime</p> Signup and view all the answers

    What is the relationship between a Tier 3 and a Tier 2 data center?

    <p>Tier 3 combines and exceeds features of Tier 1 and Tier 2</p> Signup and view all the answers

    What is the primary purpose of a facility in a data center?

    <p>To provide usable space for IT equipment</p> Signup and view all the answers

    What is included in the support infrastructure of a data center?

    <p>UPS, generators, redundant power sources, environmental control, and physical security systems</p> Signup and view all the answers

    What is a key aspect of data center design?

    <p>Optimizing space and environmental control</p> Signup and view all the answers

    What is a primary element of a data center?

    <p>All of the above</p> Signup and view all the answers

    Why do data centers require round-the-clock access to information?

    <p>To provide high availability</p> Signup and view all the answers

    What is the minimum guaranteed availability of a Tier 1 data center?

    <p>99.671%</p> Signup and view all the answers

    What is a characteristic of a Tier 2 data center?

    <p>Partial redundancy in power and cooling resources</p> Signup and view all the answers

    How many hours of downtime per year is a Tier 1 data center expected to have?

    <p>28.8 hours</p> Signup and view all the answers

    What type of businesses typically use Tier 2 data centers?

    <p>Medium-sized businesses</p> Signup and view all the answers

    What is the primary difference between a Tier 1 and Tier 2 data center?

    <p>Tier 2 has redundant power and cooling resources</p> Signup and view all the answers

    What is a primary consideration when locating a disaster recovery site?

    <p>All of the above</p> Signup and view all the answers

    What is a characteristic of a cold site?

    <p>It provides power and networking capability</p> Signup and view all the answers

    What is a limitation of using a cold site?

    <p>It requires backup data and hardware to be sent and installed</p> Signup and view all the answers

    Why is it important to consider the distance between a data center and a disaster recovery site?

    <p>All of the above</p> Signup and view all the answers

    What is digital core banking?

    <p>Banking technology for digital platforms</p> Signup and view all the answers

    What is the primary function of a disaster recovery site?

    <p>To supplement hot and warm sites</p> Signup and view all the answers

    What is a key consideration when choosing a location for a disaster recovery site?

    <p>All of the above</p> Signup and view all the answers

    What is the primary benefit of having a disaster recovery site?

    <p>To ensure business continuity in the event of a disaster</p> Signup and view all the answers

    What is a characteristic of a cold site when compared to a hot or warm site?

    <p>It provides power and networking capability, but not hardware</p> Signup and view all the answers

    Why is it important to consider the type of possible disasters when locating a disaster recovery site?

    <p>To determine the type of equipment needed</p> Signup and view all the answers

    Why is data management a difficult task in banks?

    <p>Data are scattered throughout organizations, and they are collected by many individuals using various methods and devices</p> Signup and view all the answers

    What is the primary purpose of data resource management in banks?

    <p>To apply information systems technologies to meet the information needs of business stakeholders</p> Signup and view all the answers

    What is the output when data is processed, organized, and structured?

    <p>Information</p> Signup and view all the answers

    What is the nature of data generated by banks?

    <p>Multimedia, including images, audio, and video</p> Signup and view all the answers

    Why is data processing important in banks?

    <p>To make data useful and meaningful</p> Signup and view all the answers

    What is a database compared to?

    <p>An electronic filing system</p> Signup and view all the answers

    What is the purpose of a database management system (DBMS)?

    <p>To enter, organize, and select data in a database</p> Signup and view all the answers

    What is the primary problem with data in banks?

    <p>Companies are drowning in data, much of which is unstructured</p> Signup and view all the answers

    What is the hierarchy of data in a computer system?

    <p>Bit, byte, field, record, file, database</p> Signup and view all the answers

    What is the relationship between data and information?

    <p>Data is processed to produce information</p> Signup and view all the answers

    What is the primary advantage of a centralized database?

    <p>It minimizes the risk of data management and maintains data standards</p> Signup and view all the answers

    What is a disadvantage of a large centralized database?

    <p>It increases response times and may lead to server failure</p> Signup and view all the answers

    What is the primary purpose of a centralized database system?

    <p>To maintain a centralized location for stored data</p> Signup and view all the answers

    Why is authentication important in a centralized database system?

    <p>To securely access data and maintain data standards</p> Signup and view all the answers

    What is a characteristic of a centralized database system?

    <p>Data is stored centrally and accessible from multiple locations</p> Signup and view all the answers

    What is a crucial aspect of a Database Administrator's responsibilities?

    <p>Installing and upgrading the database server and application tools</p> Signup and view all the answers

    What is data access control primarily concerned with?

    <p>Authorizing user access to data files</p> Signup and view all the answers

    What is a key task of a Database Administrator?

    <p>Backing up and restoring the database</p> Signup and view all the answers

    What is a key benefit of data access control?

    <p>Improved data security</p> Signup and view all the answers

    What is a common task of a Database Administrator in terms of storage?

    <p>Allocating systems storage</p> Signup and view all the answers

    What is a characteristic of a distributed database?

    <p>It resolves the single point of failure issue</p> Signup and view all the answers

    What is the primary function of a database administrator?

    <p>To manage and maintain database management systems (DBMS) software</p> Signup and view all the answers

    What is an advantage of distributed databases?

    <p>Better response time</p> Signup and view all the answers

    What is a disadvantage of distributed databases?

    <p>Costly software</p> Signup and view all the answers

    What is a benefit of distributed databases in terms of processing power?

    <p>Increased computing power</p> Signup and view all the answers

    What is the primary purpose of a data center?

    <p>To centralize an organization's shared IT operations and equipment</p> Signup and view all the answers

    What is a critical aspect of data center design?

    <p>Ensuring data center security</p> Signup and view all the answers

    What is housed in a data center?

    <p>Computer systems and associated components</p> Signup and view all the answers

    Why is data center security critical?

    <p>Because it houses an organization's most critical and proprietary assets</p> Signup and view all the answers

    What is the main benefit of a secure data center environment?

    <p>It ensures the integrity and functionality of the hosted computer environment</p> Signup and view all the answers

    What is the primary function of the MIS division in the bank?

    <p>To report preparation and decision making</p> Signup and view all the answers

    What is the limitation of the bank's current data management system?

    <p>Lack of data mining and data analytics tools</p> Signup and view all the answers

    What is the primary advantage of having a high speed multiprotocol labeling switching network in the bank's Data Centre?

    <p>Faster data transfer and communication</p> Signup and view all the answers

    What is the purpose of the Data Centre and Disaster Recovery Site in the bank?

    <p>To support the bank's IT infrastructure and ensure business continuity</p> Signup and view all the answers

    What is the significance of data communication in modern organizations?

    <p>It enables organizations to become more flexible and adapt to changing business conditions</p> Signup and view all the answers

    What is the primary function of the bank's database management system?

    <p>To manage and organize the bank's data</p> Signup and view all the answers

    What is the significance of clustered servers and virtualized server environments in the bank's Data Centre?

    <p>They provide a reliable and efficient IT infrastructure</p> Signup and view all the answers

    What is the primary benefit of having a separate Disaster Recovery Site in the bank?

    <p>It ensures business continuity in the event of a disaster or system failure</p> Signup and view all the answers

    What is the primary advantage of using precision cooling systems in the bank's Data Centre?

    <p>It ensures the reliability and efficiency of the IT infrastructure</p> Signup and view all the answers

    What is the primary function of the bank's IT infrastructure?

    <p>To support the bank's operations and ensure business continuity</p> Signup and view all the answers

    What can accurate data management help a bank to do?

    <p>Recommend the right financial products to customers</p> Signup and view all the answers

    What is a key feature of a mobile banking app?

    <p>Accessibility from anywhere</p> Signup and view all the answers

    What is the main advantage of advanced security integration in core banking software?

    <p>Tight security for both banks and customers</p> Signup and view all the answers

    How can a bank communicate with customers in case of an issue with their account?

    <p>Through SMS messaging or automatic emails</p> Signup and view all the answers

    What is the result of not managing data in banks?

    <p>Difficulty in making informed decisions</p> Signup and view all the answers

    What can consolidated information from customer, business, and transactional data help a bank to do?

    <p>Make important decisions</p> Signup and view all the answers

    Why is data management a difficult task in banks?

    <p>Data is scattered throughout organizations and collected by many individuals</p> Signup and view all the answers

    What is the primary purpose of data management in banks?

    <p>To meet the information needs of business stakeholders</p> Signup and view all the answers

    What is the relationship between data and information?

    <p>Data is processed to become information</p> Signup and view all the answers

    Why do banks need to practice data resource management?

    <p>To manage an organization's data resources</p> Signup and view all the answers

    What is vital organizational resource that needs to be managed like other important business assets in a bank?

    <p>Data</p> Signup and view all the answers

    What is outsourced in IT services that a bank can outsource?

    <p>Front line IT support and Technology Operations</p> Signup and view all the answers

    What is the term for the collection of related records in a database?

    <p>Table</p> Signup and view all the answers

    What is the primary purpose of data management in a bank?

    <p>To manage data like other important business assets</p> Signup and view all the answers

    What is included in the services that a bank can outsource?

    <p>All of the above</p> Signup and view all the answers

    What is the primary advantage of a centralized database system in terms of data management?

    <p>It minimizes the risk of data management</p> Signup and view all the answers

    What is a disadvantage of centralized database systems when they are too large?

    <p>The response times increase</p> Signup and view all the answers

    What is a characteristic of a centralized database system?

    <p>Data is stored centrally</p> Signup and view all the answers

    What is the purpose of authentication in a centralized database system?

    <p>To let users securely access their data</p> Signup and view all the answers

    What is a risk of centralized database systems if the server fails?

    <p>The data is lost completely</p> Signup and view all the answers

    What is a major challenge faced by banks regarding Internet Banking?

    <p>Dependency on CBS vendor and limitation of budget for purchasing security tools</p> Signup and view all the answers

    What is a common issue faced by customers using Internet Banking?

    <p>Forgetfulness of security credentials</p> Signup and view all the answers

    What is a limitation faced by corporate customers using Internet Banking?

    <p>Present fund transfer ceiling</p> Signup and view all the answers

    What is a major challenge in implementing 2FA using hardware and software-based tokens?

    <p>Customer dissatisfaction</p> Signup and view all the answers

    What is a major challenge faced by banks in providing Internet Banking services?

    <p>Cyber-attack and customer awareness</p> Signup and view all the answers

    What is one of the advantages of Internet Banking for customers?

    <p>They can access their account information from anywhere</p> Signup and view all the answers

    What is a potential security risk associated with Internet Banking?

    <p>Unauthorised access to account information</p> Signup and view all the answers

    What is a feature of Internet Banking that helps customers to detect fraudulent activities?

    <p>It enables customers to view their account balance and transactions in real-time</p> Signup and view all the answers

    What is a benefit of Internet Banking for banks?

    <p>It reduces the need for physical bank branches</p> Signup and view all the answers

    What is a challenge faced by some customers when using Internet Banking?

    <p>They need to have a lot of technical knowledge</p> Signup and view all the answers

    What is the primary concern about the information found on the Web?

    <p>It is unreliable</p> Signup and view all the answers

    What is the result of the introduction of computer and internet facility in the banking industry?

    <p>Adoption of core banking solution (CBS) platform</p> Signup and view all the answers

    What is the primary goal of alternative delivery channels in the banking sector?

    <p>To enhance customer convenience</p> Signup and view all the answers

    What is the significance of the 'User beware!' rule in the context of the Web?

    <p>It highlights the need for quality assurance of online information</p> Signup and view all the answers

    How has the introduction of alternative delivery channels affected the banking sector?

    <p>It has changed the day-to-day operation of banks</p> Signup and view all the answers

    What is the primary benefit of using the Internet for banking services?

    <p>Enhanced customer convenience</p> Signup and view all the answers

    What is the main characteristic of the Web that allows it to be a powerful tool for discovery?

    <p>It is a democratic platform</p> Signup and view all the answers

    What is the primary role of the Internet in banking services?

    <p>To facilitate online transactions</p> Signup and view all the answers

    What is the primary advantage of using alternative delivery channels in banking?

    <p>Enhanced customer convenience</p> Signup and view all the answers

    What is the main difference between the Internet and traditional banking channels?

    <p>The accessibility of services</p> Signup and view all the answers

    What kind of critical information is provided through data warehousing?

    <p>Timely business decision making support</p> Signup and view all the answers

    What is the primary purpose of the bank's data warehousing system?

    <p>To support timely business decision making</p> Signup and view all the answers

    What does the bank's system provide through data warehousing?

    <p>Critical MIS for timely business decision making</p> Signup and view all the answers

    What is the benefit of the bank's integrated system to customers?

    <p>Seamless experience across all segments and lines of business</p> Signup and view all the answers

    What is the primary objective of the IT Department in the bank?

    <p>To take care of the IT infrastructure and provide IT services to employees</p> Signup and view all the answers

    What is the primary purpose of practicing data resource management in banks?

    <p>To meet the information needs of business stakeholders</p> Signup and view all the answers

    What is a major challenge faced by banks in managing their data?

    <p>Data is scattered throughout organizations and is collected by many individuals</p> Signup and view all the answers

    What is the result of processing, organizing, and structuring raw data?

    <p>Information</p> Signup and view all the answers

    What is the term used to describe the managerial activity of managing an organization's data resources?

    <p>Data resource management</p> Signup and view all the answers

    Why is it important for banks to manage their data effectively?

    <p>To improve the quality of data and inform business decisions</p> Signup and view all the answers

    What is the benefit of consolidating customer, business, and transactional data in banking?

    <p>To make important decisions</p> Signup and view all the answers

    What can accurate data management help a bank to do?

    <p>Recommend the right financial products to its customers</p> Signup and view all the answers

    What is the primary benefit of integrating business, customer, and transactional data?

    <p>To make important decisions</p> Signup and view all the answers

    Why is data management important in banking?

    <p>To make informed decisions</p> Signup and view all the answers

    What is the role of accurate data management in banking?

    <p>To inform decision-making</p> Signup and view all the answers

    What is the primary function of information in an organization?

    <p>To put data in context and help people make decisions</p> Signup and view all the answers

    What is the role of a Database Management System (DBMS) in a database?

    <p>To enter, organize, and select data</p> Signup and view all the answers

    What is the relationship between data and information?

    <p>Data is the input, and information is the output</p> Signup and view all the answers

    What is the purpose of organizing data in a hierarchical structure?

    <p>To facilitate quick selection of desired pieces of data</p> Signup and view all the answers

    What is the primary goal of processing data into information?

    <p>To support decision-making</p> Signup and view all the answers

    What is the primary role of the Technology Operations service in a bank?

    <p>To manage and maintain the bank's technology infrastructure</p> Signup and view all the answers

    What is the main benefit of outsourcing IT services in a bank?

    <p>To decrease the cost of IT operations and focus on core banking activities</p> Signup and view all the answers

    What is the primary function of a bank's Data Analysis unit?

    <p>To analyze and interpret customer data for decision making</p> Signup and view all the answers

    What is the main goal of a bank's Cash Management and Collections service?

    <p>To collect and manage customer payments and deposits</p> Signup and view all the answers

    What is the primary role of the ICT department in a bank?

    <p>To develop and implement the bank's technology strategy</p> Signup and view all the answers

    What is the primary goal of implementing ITO in banks?

    <p>To improve operational performance and reduce operational risk</p> Signup and view all the answers

    What is the outcome of banks keeping everything in-house?

    <p>Development of vertically integrated silos that result in duplication and redundancy</p> Signup and view all the answers

    What benefit does outsourcing IT capability to a third-party expert bring to financial institutions?

    <p>Diverse benefits that positively impact the bottom line</p> Signup and view all the answers

    What is a key challenge faced by financial institutions?

    <p>Operational risk and cyber threats</p> Signup and view all the answers

    What is a common function to be outsourced in banks?

    <p>Server management and infrastructure solutions</p> Signup and view all the answers

    What is the purpose of the MIS division in the bank?

    <p>To report preparation and decision making</p> Signup and view all the answers

    What is lacking in the bank's IT infrastructure?

    <p>Data analytics tools</p> Signup and view all the answers

    What is essential for modern organizations like banks?

    <p>Computer networks</p> Signup and view all the answers

    What is necessary for data communication to occur?

    <p>Communicating devices must be part of a communication system</p> Signup and view all the answers

    What can data mining and data analytics tools help the bank with?

    <p>Analyzing large volume of data and find various patterns</p> Signup and view all the answers

    What is the location of the Data Centre of NCC bank?

    <p>NCCBL Head Office, Motijheel</p> Signup and view all the answers

    What is the purpose of the Disaster Recovery Site in the bank?

    <p>To provide backup in case of data center failure</p> Signup and view all the answers

    What is the significance of computer networks in modern organizations?

    <p>They enable organizations to become more flexible</p> Signup and view all the answers

    What is the location of the Disaster Recovery Site of NCC bank?

    <p>Gulshan-2, Dhaka</p> Signup and view all the answers

    What is the benefit of data mining and data analytics tools in the bank?

    <p>Helps in analyzing large volume of data and find various patterns</p> Signup and view all the answers

    What is the primary purpose of Data Warehousing in the bank?

    <p>To provide critical MIS for timely business decision-making</p> Signup and view all the answers

    What is the primary benefit of integrating business, customer, and transactional data?

    <p>Better decision-making and business insights</p> Signup and view all the answers

    What is the role of MIS in the bank?

    <p>To provide critical information for business decision-making</p> Signup and view all the answers

    What is the primary goal of the bank's Technology initiatives?

    <p>To support business growth and decision-making</p> Signup and view all the answers

    What is the primary purpose of the bank's IT Department?

    <p>To provide IT services and support</p> Signup and view all the answers

    What is the primary purpose of consolidated customer data in banks?

    <p>For recommending financial products</p> Signup and view all the answers

    What is the main focus of a bank's MIS division?

    <p>To provide strategic insights for decision making</p> Signup and view all the answers

    How does accurate data management help banks?

    <p>In evaluating growth strategies and launching new products</p> Signup and view all the answers

    What is the primary benefit of consolidated business and transactional data?

    <p>Better decision making and growth strategies</p> Signup and view all the answers

    What is the primary purpose of a bank's data management system?

    <p>To provide insights for decision making</p> Signup and view all the answers

    What is the primary purpose of data resource management in a bank?

    <p>To meet the information needs of business stakeholders</p> Signup and view all the answers

    What is the main challenge faced by banks in managing their data?

    <p>The data is scattered throughout the organization</p> Signup and view all the answers

    What is the primary goal of processing data in a bank?

    <p>To make the data meaningful</p> Signup and view all the answers

    What is the primary function of a bank's data management system?

    <p>To manage an organization's data resources</p> Signup and view all the answers

    What is the primary benefit of data management in a bank?

    <p>To meet the information needs of business stakeholders</p> Signup and view all the answers

    What is the primary purpose of organizing data in a hierarchy?

    <p>To enable quick selection of desired pieces</p> Signup and view all the answers

    What is the role of a database management system (DBMS)?

    <p>To enable entering, organizing, and selecting data in a database</p> Signup and view all the answers

    What is the benefit of putting data into context?

    <p>It helps people make decisions</p> Signup and view all the answers

    What is the term for a collection of information organized in a way that a computer program can quickly select desired pieces of data?

    <p>Database</p> Signup and view all the answers

    What is the relationship between data and information?

    <p>Data is the input and information is the output</p> Signup and view all the answers

    What is one of the key benefits of outsourcing IT services in a bank?

    <p>Reducing operational costs</p> Signup and view all the answers

    What is the primary role of the ICT department in a bank?

    <p>Managing IT infrastructure and operations</p> Signup and view all the answers

    What is the primary purpose of data management in a bank?

    <p>To manage and utilize organizational data effectively</p> Signup and view all the answers

    What is one of the IT services that a bank can outsource?

    <p>Application Development and Maintenance</p> Signup and view all the answers

    What is the primary goal of data analysis in a bank?

    <p>To inform business decisions and strategy</p> Signup and view all the answers

    What is a major challenge faced by banks in managing their IT infrastructure?

    <p>Managing and maintaining vertically integrated silos</p> Signup and view all the answers

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

    <p>Reducing operational risk and increasing efficiency</p> Signup and view all the answers

    What can lead to extensive duplication and redundancy across businesses and markets?

    <p>Developing vertically integrated silos</p> Signup and view all the answers

    What is a benefit of implementing ITO for banks?

    <p>Introducing flexibility in data storage, product offerings and speed of service</p> Signup and view all the answers

    What challenges do financial institutions face?

    <p>Operational risks, cyber threats, strategic planning and audit</p> Signup and view all the answers

    What is the primary role of the MIS division in the bank?

    <p>To prepare reports and support decision making</p> Signup and view all the answers

    What is a limitation of the bank's current system?

    <p>The inability to analyze large data sets</p> Signup and view all the answers

    What is the significance of the Data Centre in the bank's operations?

    <p>It houses the bank's database management system</p> Signup and view all the answers

    What is a potential benefit of introducing data mining and analytics tools?

    <p>Enhanced decision making capabilities</p> Signup and view all the answers

    What is the relationship between the Data Centre and the Disaster Recovery Site?

    <p>They are located in different facilities</p> Signup and view all the answers

    What is the primary function of the bank's database management system?

    <p>To manage the bank's data resources</p> Signup and view all the answers

    What is the significance of a strong database management system in a bank?

    <p>It helps the bank to manage its data resources effectively</p> Signup and view all the answers

    What is the primary benefit of having a separate MIS division?

    <p>Enhanced decision making capabilities</p> Signup and view all the answers

    What is the significance of data analysis in the bank's operations?

    <p>It helps the bank to identify patterns and trends</p> Signup and view all the answers

    What is the relationship between the bank's data centre and its disaster recovery site?

    <p>The data centre is used for daily operations, while the disaster recovery site is used for backup</p> Signup and view all the answers

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