Internet Banking Challenges

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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?

Customers receive SMS with a little delay Signup and view all the answers

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

Limited budget for purchasing security tools and applications Signup and view all the answers

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

To deliver banking services more efficiently to customers Signup and view all the answers

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

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

What is the fundamental rule about information on the Web?

User beware Signup and view all the answers

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

It has increased the needs of the people Signup and view all the answers

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

Democratic Signup and view all the answers

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

ICT Signup and view all the answers

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

Technology Signup and view all the answers

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

To provide online financial services to its customers Signup and view all the answers

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

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

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

State-of-the-art product features and reduced operating costs Signup and view all the answers

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

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

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

Fees for ATM services Signup and view all the answers

What is the purpose of the keypad in an ATM?

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

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

To dispense cash through a slot connected to a safe Signup and view all the answers

What type of transactions can be performed at an ATM?

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

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

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

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

To integrate various delivery channels Signup and view all the answers

What are the integrated delivery channels mentioned in the text?

ATM, Internet, Phone, Mobile, Kiosk, and Call Centre Signup and view all the answers

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

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

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

Not restricted to only core banking solution Signup and view all the answers

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

To make informed decisions and recommend suitable financial products Signup and view all the answers

How do mobile apps and Net Banking facilities benefit customers?

They allow customers to access their accounts from anywhere Signup and view all the answers

What is an important feature of core banking software?

Dual authentication processes Signup and view all the answers

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

To inform customers about account issues Signup and view all the answers

What is a benefit of virtual banking?

It improves customer engagement in banking Signup and view all the answers

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

To provide IT services to employees and support information systems Signup and view all the answers

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

Customer Relationship Management Signup and view all the answers

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

Enhanced customer experience with state-of-the-art technology Signup and view all the answers

What is provided by the Data Warehouse?

Critical MIS for timely business decisions Signup and view all the answers

What is the purpose of the bank's CBS?

To enable customers with state-of-the-art technology Signup and view all the answers

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

E-commerce services Signup and view all the answers

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

All of the above Signup and view all the answers

What is the role of IT development projects?

To implement new IT services Signup and view all the answers

What is the benefit of the bank's initiatives?

Enhanced customer experience with state-of-the-art technology Signup and view all the answers

What is the function of the Data Warehouse?

To provide critical MIS for timely business decisions Signup and view all the answers

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

All of the above Signup and view all the answers

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

To provide 24x7 banking services to customers Signup and view all the answers

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

Higher points with lower operational and transaction costs Signup and view all the answers

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

Changed the physical appearance of the banking industry Signup and view all the answers

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

To reach a wide range of customers across the country Signup and view all the answers

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

Increased productivity of the banking system Signup and view all the answers

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

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

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

Internet Banking Signup and view all the answers

What is the purpose of the Printer in an ATM?

To print receipts Signup and view all the answers

Fees are commonly charged for which banking service?

ATM services Signup and view all the answers

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

To dispense cash to customers Signup and view all the answers

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

Introduction of computer and internet facility Signup and view all the answers

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

To increase the efficiency of services offered to customers Signup and view all the answers

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

Change in banking sector Signup and view all the answers

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

It is a democratic platform Signup and view all the answers

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

Introduction of computer and internet facility Signup and view all the answers

What percentage of banks in Bangladesh offer ATM services?

95% Signup and view all the answers

What is the primary purpose of chatbots in banking?

To handle customer queries simultaneously Signup and view all the answers

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

2,44,30,983 Signup and view all the answers

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

62% Signup and view all the answers

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

To increase customer convenience Signup and view all the answers

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

All of the above Signup and view all the answers

What is the primary purpose of social media in banking?

To generate brand awareness Signup and view all the answers

Why do customers get locked with their User ID?

They forget their security credentials Signup and view all the answers

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

Dependency on CBS vendor and limitation of budget Signup and view all the answers

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

Cyber-attack and customer awareness Signup and view all the answers

What is the primary purpose of kiosk banking?

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

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

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

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

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

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

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

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

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

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

To provide banking services to remote and underprivileged populations Signup and view all the answers

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

Agent banking Signup and view all the answers

What is the benefit of using electronic wallets?

Convenient and cashless payment Signup and view all the answers

What is the main advantage of banking apps?

Convenient access to banking services remotely Signup and view all the answers

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

To provide banking services to remote and underprivileged populations Signup and view all the answers

What is the main benefit of agent banking?

Convenient access to banking services in remote locations Signup and view all the answers

What is the primary purpose of electronic wallets?

To provide a convenient way to transfer funds electronically Signup and view all the answers

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

Cost-effective and convenient delivery of banking services Signup and view all the answers

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

To provide banking services to remote and underprivileged populations Signup and view all the answers

What is the main benefit of using mobile banking apps?

Convenient access to banking services remotely Signup and view all the answers

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

To verify the identity of the entity trying to access the database Signup and view all the answers

What is the function of accounting in data access control?

To measure the resources used by a user during access Signup and view all the answers

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

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

What is a multifactor authentication system used for?

To verify the identity of the entity trying to access the database Signup and view all the answers

What is the primary purpose of a data center?

To store and manage business-critical data and applications Signup and view all the answers

What is included in data center design?

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

What are the three primary components of data access control?

Authentication, Authorization, and Accounting Signup and view all the answers

Why is data center security critical?

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

What is a key characteristic of a data center?

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

What is a key requirement of a data center?

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

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

Transaction Processing including payments, loans, deposits Signup and view all the answers

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

To manage cash flows and optimize collections Signup and view all the answers

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

Cost savings and access to specialized expertise Signup and view all the answers

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

To develop and maintain IT systems and infrastructure Signup and view all the answers

Why do banks need to outsource some IT jobs?

To reduce costs and access specialized expertise Signup and view all the answers

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

Significantly reduced cost Signup and view all the answers

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

It is the heart of the banking sector Signup and view all the answers

What do customers expect from banks due to technological advancements?

To bank at any time and from any location Signup and view all the answers

What is the purpose of ICT in banking?

To meet the high expectations of customers Signup and view all the answers

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

The uprising of Information Technology Signup and view all the answers

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

The user's responsibility to verify information Signup and view all the answers

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

Adoption of core banking solution (CBS) platforms Signup and view all the answers

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

Anyone can post information Signup and view all the answers

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

Alternative delivery channels in banking sector Signup and view all the answers

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

Advancements in computer and internet facilities Signup and view all the answers

What is the primary function of a database management system?

To enter, organize, and select data in a database Signup and view all the answers

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

A byte Signup and view all the answers

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

Information Signup and view all the answers

What is a database often compared to?

An electronic filing system Signup and view all the answers

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

A file Signup and view all the answers

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

To develop the IT infrastructure used at the bank Signup and view all the answers

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

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

What is one of the divisions under the IT Department?

IT Management Division Signup and view all the answers

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

To maintain constant IT system security Signup and view all the answers

What is the role of the Chief Information Technology Officer?

To lead the IT Department Signup and view all the answers

What is one of the functions of the IT Department?

Business systems Signup and view all the answers

What is the purpose of separating IT divisions?

To facilitate separation of duties and focus on critical areas 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?

To keep in contact and coordinate actions Signup and view all the answers

What is one of the benefits of outsourcing IT jobs?

Increased efficiency and cost savings Signup and view all the answers

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

To develop and maintain the IT infrastructure used at the bank Signup and view all the answers

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

To validate the identity of the user Signup and view all the answers

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

To determine the level of access and activities allowed Signup and view all the answers

What is the purpose of accounting in data access control?

To measure the resources used by a user Signup and view all the answers

What is the purpose of a multifactor authentication system?

To validate the user's identity Signup and view all the answers

What are the three primary components of data access control?

Authentication, Authorization, and Accounting Signup and view all the answers

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

Processed Information Signup and view all the answers

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

To manage it like other important business assets Signup and view all the answers

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

Data Management in Online Banks Signup and view all the answers

Why is data management important in a bank?

To manage it like other important business assets Signup and view all the answers

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

Data Management and Organization Signup and view all the answers

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

Democracy Signup and view all the answers

What is the fundamental rule about information on the Web?

User beware! Signup and view all the answers

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

Change in banking sector Signup and view all the answers

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

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

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

To provide a convenient way to access banking services Signup and view all the answers

What is the primary function of a data center?

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

What components are typically included in data center design?

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

Why is data center security critical in data center design?

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

What is the primary goal of a data center?

To ensure the continuity of daily operations Signup and view all the answers

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

Minimized chances of a security breach Signup and view all the answers

What has significantly reduced the cost of global funds transfer?

ICT development and global networks Signup and view all the answers

What do customers expect from banks in terms of banking?

To bank at any time and from any location Signup and view all the answers

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

ICT Signup and view all the answers

What enables banks to meet the high expectations of customers?

ICT Signup and view all the answers

What has ushered in a global surge in financial activity?

Uprising of information technology Signup and view all the answers

What is the primary function of a database?

To store and manage data in a hierarchical structure Signup and view all the answers

What is the relationship between data and information?

Data is processed into information Signup and view all the answers

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

To enter, organize, and select data in a database Signup and view all the answers

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

Bit, byte, field, record, file, database Signup and view all the answers

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

Microsoft Access Signup and view all the answers

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

Providing more computing power and greater availability Signup and view all the answers

What is the primary function of a database administrator?

Managing and maintaining DBMS software Signup and view all the answers

What is a characteristic of a distributed database?

Multiple interconnected databases spread out across several sites Signup and view all the answers

What is a disadvantage of a distributed database?

Costly software Signup and view all the answers

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

To ensure the database is always accessible when required Signup and view all the answers

What is a benefit of using a distributed database?

Lower communication cost and better response Signup and view all the answers

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

To manage and maintain database management systems Signup and view all the answers

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

Data is distributed among multiple physical locations Signup and view all the answers

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

Increased processing power due to multiple nodes Signup and view all the answers

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

To ensure data is always available when required Signup and view all the answers

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

2,44,30,983 Signup and view all the answers

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

Lack of awareness among customers about phishing and IP tracing Signup and view all the answers

What happens when customers forget their security credentials?

They get locked with their User ID Signup and view all the answers

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

Dependency on CBS vendor Signup and view all the answers

What happens when customers use mobile SMS as 2FA?

They receive SMS with a little delay 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?

Introductions of computers and internet facility Signup and view all the answers

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

Introduction of computers and internet facility Signup and view all the answers

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

It is democratic in nature Signup and view all the answers

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

Technological advancements Signup and view all the answers

What is the fundamental rule about information on the Web?

User beware! Signup and view all the answers

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

To enhance the efficiency and effectiveness of services offered to customers Signup and view all the answers

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

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

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

Improving banks' internal systems and processes Signup and view all the answers

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

Electronic payment services through virtual cash and e-cards Signup and view all the answers

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

Large ATM and POST networks Signup and view all the answers

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

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

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

It provides integrated delivery channels Signup and view all the answers

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

It is available 24 X 7 for customers Signup and view all the answers

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

To implement technology with a customer-focused approach Signup and view all the answers

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

Phone banking Signup and view all the answers

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

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

What is a common fee associated with using ATMs?

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

What is the purpose of the keypad in an ATM?

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

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

Bill payment Signup and view all the answers

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

Cash Dispenser Signup and view all the answers

What is the primary purpose of a mobile banking app?

To allow customers to access their accounts from anywhere Signup and view all the answers

What is a key feature of core banking software?

Top-notch security integration across all verticals Signup and view all the answers

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

Recommendation of the right financial products to customers Signup and view all the answers

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

Informed decision-making for banks Signup and view all the answers

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

To prevent money mismanagement and fraudulent transactions Signup and view all the answers

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

State-of-the-art technology with human interface Signup and view all the answers

What is the objective of the IT Department?

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

What does the internet payment gateway offer?

E-commerce services Signup and view all the answers

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

Only critical MIS Signup and view all the answers

What is integrated into the bank's system?

Multiple applications providing a seamless customer experience Signup and view all the answers

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

State-of-the-art technology with human interface Signup and view all the answers

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

Enterprise-wide General Ledger to Risk Management and beyond Signup and view all the answers

What does the bank's system provide to customers?

A seamless experience across all segments and lines of business Signup and view all the answers

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

To take care of IT infrastructure and provide IT services Signup and view all the answers

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

For timely business decision-making Signup and view all the answers

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

99.995% Signup and view all the answers

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

To recover and restore technology infrastructure and operations Signup and view all the answers

What are the three major types of Disaster Recovery sites?

Cold, Warm, and Hot Signup and view all the answers

What is the purpose of having a secondary data center?

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

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

26.3 minutes Signup and view all the answers

What is the primary purpose of data center tiers?

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

What is characteristic of a Tier 1 data center?

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

What is the ranking system used to classify data centers?

From 1 to 4, with 1 being the worst and 4 being the best Signup and view all the answers

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

The Uptime Institute 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?

Operations staff Signup and view all the answers

What is the primary function of a data center?

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

What is a critical aspect of data center design?

Data center security Signup and view all the answers

What is housed in a data center?

Computer systems and associated components Signup and view all the answers

What is the primary goal of a data center?

To offer a secure environment for hosted computer systems Signup and view all the answers

What is a key characteristic of a data center?

It is a building or a dedicated space within a building Signup and view all the answers

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

99.982% Signup and view all the answers

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

Redundant and dual-powered instances Signup and view all the answers

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

Tier 3 Signup and view all the answers

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

Redundant capacity and infrastructure Signup and view all the answers

What is the term for a Tier 3 data center?

Level 3 data center Signup and view all the answers

What is a primary element of a data center?

Facility Signup and view all the answers

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

UPS, environmental control, and physical security systems Signup and view all the answers

What is a critical aspect of data center design?

Designing for environmental control Signup and view all the answers

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

Storage systems Signup and view all the answers

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

Maintaining specific temperature and humidity ranges Signup and view all the answers

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

99.671% Signup and view all the answers

What is a characteristic of a Tier 2 data center?

Multiple sources of servers and network links Signup and view all the answers

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

28.8 hours Signup and view all the answers

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

Redundancy in data center components Signup and view all the answers

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

Medium-sized businesses Signup and view all the answers

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

Servers and storage 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?

To minimize the impact of a major disaster Signup and view all the answers

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

All of the above Signup and view all the answers

What is the primary limitation of using a cold site?

It requires backup data and hardware to be sent and installed Signup and view all the answers

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

To serve as a backup data center Signup and view all the answers

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

It allows for easier staff management Signup and view all the answers

What is digital core banking?

Banking technology that provides access to traditional core banking activities 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?

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

What is the primary benefit of using a cold site?

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

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

All of the above Signup and view all the answers

What is the primary function of a data center?

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

What is critical in data center design?

Data security Signup and view all the answers

What is the primary purpose of Data Center Tier classification?

To rank facilities based on reliability Signup and view all the answers

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

It has a single source of servers and network links Signup and view all the answers

What is typically included in data center design?

Routers, switches, firewalls, and storage systems Signup and view all the answers

What is the Uptime Institute responsible for?

Determining the facility level of data centers Signup and view all the answers

Why is data center security crucial?

To minimize the chances of a security breach Signup and view all the answers

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

The requirement for on-demand services Signup and view all the answers

What is a data center typically used for?

Storing and managing business-critical data and applications Signup and view all the answers

What is the ranking range for data center tiers?

1-4 Signup and view all the answers

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

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

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

99.995% Signup and view all the answers

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

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

What is a characteristic of a Tier 4 data center?

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

What are the three major types of disaster recovery sites?

Cold, warm, and hot sites Signup and view all the answers

What is a characteristic of a Tier 3 data center?

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

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

99.982 percent Signup and view all the answers

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

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

What is a benefit of a Tier 3 data center?

Minimal planned and unplanned downtime Signup and view all the answers

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

Tier 3 combines and exceeds features of Tier 1 and Tier 2 Signup and view all the answers

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

To provide usable space for IT equipment Signup and view all the answers

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

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

What is a key aspect of data center design?

Optimizing space and environmental control Signup and view all the answers

What is a primary element of a data center?

All of the above Signup and view all the answers

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

To provide high availability Signup and view all the answers

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

99.671% Signup and view all the answers

What is a characteristic of a Tier 2 data center?

Partial redundancy in power and cooling resources Signup and view all the answers

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

28.8 hours Signup and view all the answers

What type of businesses typically use Tier 2 data centers?

Medium-sized businesses Signup and view all the answers

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

Tier 2 has redundant power and cooling resources Signup and view all the answers

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

All of the above Signup and view all the answers

What is a characteristic of a cold site?

It provides power and networking capability Signup and view all the answers

What is a limitation of using a cold site?

It requires backup data and hardware to be sent and installed Signup and view all the answers

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

All of the above Signup and view all the answers

What is digital core banking?

Banking technology for digital platforms Signup and view all the answers

What is the primary function of a disaster recovery site?

To supplement hot and warm sites Signup and view all the answers

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

All of the above Signup and view all the answers

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

To ensure business continuity in the event of a disaster Signup and view all the answers

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

It provides power and networking capability, but not hardware Signup and view all the answers

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

To determine the type of equipment needed Signup and view all the answers

Why is data management a difficult task in banks?

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

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

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

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

Information Signup and view all the answers

What is the nature of data generated by banks?

Multimedia, including images, audio, and video Signup and view all the answers

Why is data processing important in banks?

To make data useful and meaningful Signup and view all the answers

What is a database compared to?

An electronic filing system Signup and view all the answers

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

To enter, organize, and select data in a database Signup and view all the answers

What is the primary problem with data in banks?

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

What is the hierarchy of data in a computer system?

Bit, byte, field, record, file, database Signup and view all the answers

What is the relationship between data and information?

Data is processed to produce information Signup and view all the answers

What is the primary advantage of a centralized database?

It minimizes the risk of data management and maintains data standards Signup and view all the answers

What is a disadvantage of a large centralized database?

It increases response times and may lead to server failure Signup and view all the answers

What is the primary purpose of a centralized database system?

To maintain a centralized location for stored data Signup and view all the answers

Why is authentication important in a centralized database system?

To securely access data and maintain data standards Signup and view all the answers

What is a characteristic of a centralized database system?

Data is stored centrally and accessible from multiple locations Signup and view all the answers

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

Installing and upgrading the database server and application tools Signup and view all the answers

What is data access control primarily concerned with?

Authorizing user access to data files Signup and view all the answers

What is a key task of a Database Administrator?

Backing up and restoring the database Signup and view all the answers

What is a key benefit of data access control?

Improved data security Signup and view all the answers

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

Allocating systems storage Signup and view all the answers

What is a characteristic of a distributed database?

It resolves the single point of failure issue Signup and view all the answers

What is the primary function of a database administrator?

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

What is an advantage of distributed databases?

Better response time Signup and view all the answers

What is a disadvantage of distributed databases?

Costly software Signup and view all the answers

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

Increased computing power Signup and view all the answers

What is the primary purpose of a data center?

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

What is a critical aspect of data center design?

Ensuring data center security Signup and view all the answers

What is housed in a data center?

Computer systems and associated components Signup and view all the answers

Why is data center security critical?

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

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

It ensures the integrity and functionality of the hosted computer environment Signup and view all the answers

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

To report preparation and decision making Signup and view all the answers

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

Lack of data mining and data analytics tools 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?

Faster data transfer and communication Signup and view all the answers

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

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

What is the significance of data communication in modern organizations?

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

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

To manage and organize the bank's data Signup and view all the answers

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

They provide a reliable and efficient IT infrastructure Signup and view all the answers

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

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

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

It ensures the reliability and efficiency of the IT infrastructure Signup and view all the answers

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

To support the bank's operations and ensure business continuity Signup and view all the answers

What can accurate data management help a bank to do?

Recommend the right financial products to customers Signup and view all the answers

What is a key feature of a mobile banking app?

Accessibility from anywhere Signup and view all the answers

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

Tight security for both banks and customers Signup and view all the answers

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

Through SMS messaging or automatic emails Signup and view all the answers

What is the result of not managing data in banks?

Difficulty in making informed decisions Signup and view all the answers

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

Make important decisions Signup and view all the answers

Why is data management a difficult task in banks?

Data is scattered throughout organizations and collected by many individuals Signup and view all the answers

What is the primary purpose of data management in banks?

To meet the information needs of business stakeholders Signup and view all the answers

What is the relationship between data and information?

Data is processed to become information Signup and view all the answers

Why do banks need to practice data resource management?

To manage an organization's data resources Signup and view all the answers

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

Data Signup and view all the answers

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

Front line IT support and Technology Operations Signup and view all the answers

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

Table Signup and view all the answers

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

To manage data like other important business assets Signup and view all the answers

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

All of the above Signup and view all the answers

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

It minimizes the risk of data management Signup and view all the answers

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

The response times increase Signup and view all the answers

What is a characteristic of a centralized database system?

Data is stored centrally Signup and view all the answers

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

To let users securely access their data Signup and view all the answers

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

The data is lost completely Signup and view all the answers

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

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

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

Forgetfulness of security credentials Signup and view all the answers

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

Present fund transfer ceiling Signup and view all the answers

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

Customer dissatisfaction Signup and view all the answers

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

Cyber-attack and customer awareness Signup and view all the answers

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

They can access their account information from anywhere Signup and view all the answers

What is a potential security risk associated with Internet Banking?

Unauthorised access to account information Signup and view all the answers

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

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

What is a benefit of Internet Banking for banks?

It reduces the need for physical bank branches Signup and view all the answers

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

They need to have a lot of technical knowledge Signup and view all the answers

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

It is unreliable Signup and view all the answers

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

Adoption of core banking solution (CBS) platform Signup and view all the answers

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

To enhance customer convenience Signup and view all the answers

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

It highlights the need for quality assurance of online information Signup and view all the answers

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

It has changed the day-to-day operation of banks Signup and view all the answers

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

Enhanced customer convenience Signup and view all the answers

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

It is a democratic platform Signup and view all the answers

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

To facilitate online transactions Signup and view all the answers

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

Enhanced customer convenience Signup and view all the answers

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

The accessibility of services Signup and view all the answers

What kind of critical information is provided through data warehousing?

Timely business decision making support Signup and view all the answers

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

To support timely business decision making Signup and view all the answers

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

Critical MIS for timely business decision making Signup and view all the answers

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

Seamless experience across all segments and lines of business Signup and view all the answers

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

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

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

To meet the information needs of business stakeholders Signup and view all the answers

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

Data is scattered throughout organizations and is collected by many individuals Signup and view all the answers

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

Information Signup and view all the answers

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

Data resource management Signup and view all the answers

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

To improve the quality of data and inform business decisions Signup and view all the answers

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

To make important decisions Signup and view all the answers

What can accurate data management help a bank to do?

Recommend the right financial products to its customers Signup and view all the answers

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

To make important decisions Signup and view all the answers

Why is data management important in banking?

To make informed decisions Signup and view all the answers

What is the role of accurate data management in banking?

To inform decision-making Signup and view all the answers

What is the primary function of information in an organization?

To put data in context and help people make decisions Signup and view all the answers

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

To enter, organize, and select data Signup and view all the answers

What is the relationship between data and information?

Data is the input, and information is the output Signup and view all the answers

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

To facilitate quick selection of desired pieces of data Signup and view all the answers

What is the primary goal of processing data into information?

To support decision-making Signup and view all the answers

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

To manage and maintain the bank's technology infrastructure Signup and view all the answers

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

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

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

To analyze and interpret customer data for decision making Signup and view all the answers

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

To collect and manage customer payments and deposits Signup and view all the answers

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

To develop and implement the bank's technology strategy Signup and view all the answers

What is the primary goal of implementing ITO in banks?

To improve operational performance and reduce operational risk Signup and view all the answers

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

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

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

Diverse benefits that positively impact the bottom line Signup and view all the answers

What is a key challenge faced by financial institutions?

Operational risk and cyber threats Signup and view all the answers

What is a common function to be outsourced in banks?

Server management and infrastructure solutions Signup and view all the answers

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

To report preparation and decision making Signup and view all the answers

What is lacking in the bank's IT infrastructure?

Data analytics tools Signup and view all the answers

What is essential for modern organizations like banks?

Computer networks Signup and view all the answers

What is necessary for data communication to occur?

Communicating devices must be part of a communication system Signup and view all the answers

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

Analyzing large volume of data and find various patterns Signup and view all the answers

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

NCCBL Head Office, Motijheel Signup and view all the answers

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

To provide backup in case of data center failure Signup and view all the answers

What is the significance of computer networks in modern organizations?

They enable organizations to become more flexible Signup and view all the answers

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

Gulshan-2, Dhaka Signup and view all the answers

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

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

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

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

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

Better decision-making and business insights Signup and view all the answers

What is the role of MIS in the bank?

To provide critical information for business decision-making Signup and view all the answers

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

To support business growth and decision-making Signup and view all the answers

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

To provide IT services and support Signup and view all the answers

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

For recommending financial products Signup and view all the answers

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

To provide strategic insights for decision making Signup and view all the answers

How does accurate data management help banks?

In evaluating growth strategies and launching new products Signup and view all the answers

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

Better decision making and growth strategies Signup and view all the answers

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

To provide insights for decision making Signup and view all the answers

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

To meet the information needs of business stakeholders Signup and view all the answers

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

The data is scattered throughout the organization Signup and view all the answers

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

To make the data meaningful Signup and view all the answers

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

To manage an organization's data resources Signup and view all the answers

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

To meet the information needs of business stakeholders Signup and view all the answers

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

To enable quick selection of desired pieces Signup and view all the answers

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

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

What is the benefit of putting data into context?

It helps people make decisions 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?

Database Signup and view all the answers

What is the relationship between data and information?

Data is the input and information is the output Signup and view all the answers

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

Reducing operational costs Signup and view all the answers

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

Managing IT infrastructure and operations Signup and view all the answers

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

To manage and utilize organizational data effectively Signup and view all the answers

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

Application Development and Maintenance Signup and view all the answers

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

To inform business decisions and strategy Signup and view all the answers

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

Managing and maintaining vertically integrated silos Signup and view all the answers

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

Reducing operational risk and increasing efficiency Signup and view all the answers

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

Developing vertically integrated silos Signup and view all the answers

What is a benefit of implementing ITO for banks?

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

What challenges do financial institutions face?

Operational risks, cyber threats, strategic planning and audit Signup and view all the answers

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

To prepare reports and support decision making Signup and view all the answers

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

The inability to analyze large data sets Signup and view all the answers

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

It houses the bank's database management system Signup and view all the answers

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

Enhanced decision making capabilities Signup and view all the answers

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

They are located in different facilities Signup and view all the answers

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

To manage the bank's data resources Signup and view all the answers

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

It helps the bank to manage its data resources effectively Signup and view all the answers

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

Enhanced decision making capabilities Signup and view all the answers

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

It helps the bank to identify patterns and trends Signup and view all the answers

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

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

Internet Banking Challenges

Podcast Beta

Questions and Answers

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

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

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

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

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

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

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

What is the fundamental rule about information on the Web?

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

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

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

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

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

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

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

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

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

What is the purpose of the keypad in an ATM?

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

What type of transactions can be performed at an ATM?

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

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

What are the integrated delivery channels mentioned in the text?

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

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

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

How do mobile apps and Net Banking facilities benefit customers?

What is an important feature of core banking software?

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

What is a benefit of virtual banking?

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

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

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

What is provided by the Data Warehouse?

What is the purpose of the bank's CBS?

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

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

What is the role of IT development projects?

What is the benefit of the bank's initiatives?

What is the function of the Data Warehouse?

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

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

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

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

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

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

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

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

What is the purpose of the Printer in an ATM?

Fees are commonly charged for which banking service?

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

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

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

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

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

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

What percentage of banks in Bangladesh offer ATM services?

What is the primary purpose of chatbots in banking?

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

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

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

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

What is the primary purpose of social media in banking?

Why do customers get locked with their User ID?

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

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

What is the primary purpose of kiosk banking?

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

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

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

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

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

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

What is the benefit of using electronic wallets?

What is the main advantage of banking apps?

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

What is the main benefit of agent banking?