IT Chapter-3

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What was the number of Internet Banking transactions in 2020?

1,98,97,516

2,44,30,983 (correct)

27,42,241

32,45,333

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

Lack of budget for purchasing security tools

Dependency on CBS vendor

Customer awareness against phishing

All of the above (correct)

Why do customers get locked with their User ID?

Due to frequent security updates

Due to forgetfulness of security credentials (correct)

Due to frequent password changes

Due to lack of technical knowledge

What is a limitation of the present Internet Banking system?

Low fund transfer ceiling Signup and view all the answers

What is a cyber-attack related challenge faced by banks?

All of the above Signup and view all the answers

What is the primary implication of the democratic nature of the Web?

Lack of quality assurance for information on the Web Signup and view all the answers

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

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

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

It highlights the lack of quality assurance for information on the Web Signup and view all the answers

What is the role of alternative delivery channels in the banking sector?

To change the day to day operation of the bank Signup and view all the answers

What is the core banking solution (CBS) platform used for in the banking industry?

To deliver banking services Signup and view all the answers

What is the primary role of technology in the banking industry?

To provide multiple channels for customer communication and behavior analysis Signup and view all the answers

What is the result of banks' investments in ICT platforms and Information systems?

All of the above Signup and view all the answers

What services do banks in Bangladesh offer to their customers?

Electronic payment services, ATM/POS, Mobile Banking, Internet and Apps Banking, and others Signup and view all the answers

What is the outcome of banks' establishment of large ATM and POST networks?

24/7 customer services Signup and view all the answers

What is the ultimate goal of banks' adoption of technology?

To become more efficient and profitable Signup and view all the answers

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

To provide customer convenience banking Signup and view all the answers

What is the platform that integrates various delivery channels such as ATM, Internet, and Phone?

Core Banking Solution Signup and view all the answers

What is one of the functions supported by the CBS?

Customers Information System Signup and view all the answers

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

Convenience banking on 24 X 7 basis Signup and view all the answers

What is an example of a delivery channel integrated by the Core Banking Solution platform?

Kiosk Signup and view all the answers

What is the main benefit of consolidating customer data, business data, and transactional data for a bank?

To make informed decisions and improve customer recommendations Signup and view all the answers

What is the primary function of mobile banking applications?

To enable customers to access their account from anywhere Signup and view all the answers

What is a key advantage of advanced security integration in core banking software?

Enhanced security across all bank verticals Signup and view all the answers

Why is it important for a banking solution to be able to communicate with customers through SMS or email?

To inform customers of issues with their account Signup and view all the answers

What is the benefit of having virtual banking platforms?

Uninterrupted access to banking activities Signup and view all the answers

What is the primary function of an ATM card reader?

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

What is the advantage of using an ATM operated directly by the bank that holds the account?

Avoidance of fees charged for ATM services Signup and view all the answers

What is the primary purpose of an ATM keypad?

To input personal identification number (PIN) and transaction details Signup and view all the answers

What is the primary record of an ATM transaction?

The printed receipt Signup and view all the answers

What is the primary benefit of ATMs in terms of banking transactions?

They enable quick self-service transactions Signup and view all the answers

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

To provide IT services to the employees of the bank and implement IT development projects Signup and view all the answers

What is one of the applications integrated with the core banking system?

All of the above Signup and view all the answers

What is the purpose of the Data Warehouse?

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

What is one of the benefits of the core banking system and various initiatives?

Enhanced customer experience Signup and view all the answers

What is one of the services provided by the Internet Payment Gateway?

E-commerce services Signup and view all the answers

What is the primary function of the IT infrastructure in the bank?

To provide IT services to the employees of the bank Signup and view all the answers

What is one of the applications integrated with the core banking system for customer use?

Phone Banking Signup and view all the answers

What is the primary role of the IT Department in implementing IT development projects?

To implement new IT projects Signup and view all the answers

What is one of the benefits of the core banking system and various initiatives to the customers?

Improved customer experience Signup and view all the answers

What is the primary function of the Risk Management application?

To monitor and manage risks Signup and view all the answers

What is the primary purpose of a data center in an organization?

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

What is a critical component of data center design?

Data center security Signup and view all the answers

What is the primary objective of a data center's design?

To provide a secure environment for data and applications Signup and view all the answers

What is a critical aspect of a data center's design?

The assurance of integrity and functionality of the hosted computer environment Signup and view all the answers

What is the primary role of a data center in an organization?

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

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

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

What is the purpose of accounting in data access control?

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

What is multifactor authentication used for in data access control?

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

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

To validate the user's identification 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 primary purpose of outsourcing Technology Operations in a bank?

To transfer risk and reduce operational costs Signup and view all the answers

What is a key advantage of outsourcing Front Line IT Support in a bank?

Improved customer service Signup and view all the answers

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

To develop and maintain the bank's IT infrastructure Signup and view all the answers

What is the primary benefit of outsourcing Application Development, Maintenance and Testing in a bank?

Reduced operational costs and improved efficiency Signup and view all the answers

What is the primary purpose of outsourcing Cash Management and Collections in a bank?

To reduce operational costs and improve efficiency Signup and view all the answers

What is the primary implication of the Web's democratic nature?

Lack of quality assurance for information on the Web Signup and view all the answers

What is the primary outcome of introducing computer and internet facility in the banking industry?

Adopting core banking solution (CBS) platform to deliver banking services Signup and view all the answers

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

Changing the day-to-day operation of the bank Signup and view all the answers

What is the primary benefit of the Internet in the context of the banking industry?

Providing a platform for alternative delivery channels Signup and view all the answers

What is the primary characteristic of the Web that users should be aware of?

The Web lacks quality assurance for information Signup and view all the answers

What is the primary function of a database in an organization?

To store and retrieve information Signup and view all the answers

What is the primary 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 the purpose of a database in an organization?

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

What is an example of popular database software or DBMS?

Microsoft Access Signup and view all the answers

What is the main purpose of the IT Department in terms of IT system security?

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

Which of the following divisions is responsible for developing the IT infrastructure?

Infrastructure Management Division Signup and view all the answers

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

To keep in contact and coordinate actions with the Central Bank and supervised financial market participants Signup and view all the answers

What is the purpose of outsourcing IT jobs?

To delegate some of the organization's in-house operations or processes to a third party Signup and view all the answers

Which of the following is a function of the IT Department?

To develop the IT infrastructure and provide project management Signup and view all the answers

What is the primary benefit of separating the IT Department into divisions?

To facilitate separation of duties and a better focus on the most critical areas Signup and view all the answers

What is the primary role of the Chief Information Technology Officer?

To lead the IT Department and its divisions Signup and view all the answers

What is the primary function of the IT Department in terms of IT services?

To look for and procure new hardware and software Signup and view all the answers

What is the primary benefit of the IT Department's functions?

To support the bank's operations and branch services Signup and view all the answers

What is the primary purpose of the IT Department's IT system security checks?

To identify vulnerabilities in the IT system Signup and view all the answers

What has enabled banks to meet the high expectations of customers who are more demanding and technologically savvy than their previous generation?

The uprising of Information Technology Signup and view all the answers

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

To provide banking solutions to handle accounting and back office needs Signup and view all the answers

What is the result of technological advancements and the development of global networks in the banking sector?

The cost of global funds transfer has been significantly reduced Signup and view all the answers

What is the current status of ICT in the banking sector in Bangladesh?

ICT is becoming the heart of the banking sector Signup and view all the answers

What is the impact of technological advancements on the banking industry?

It has reduced the cost of global funds transfer Signup and view all the answers

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

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

What is the purpose of accounting in data access control?

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

What is multifactor authentication used for in data access control?

To verify 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 primary function of authorization in data access control?

To determine the level of access each user has to the database and the activities they may perform Signup and view all the answers

What is a data center primarily used for in an organization?

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

What is a critical component of data center design?

Firewalls and routers Signup and view all the answers

What is the primary objective of a data center's design?

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

What is the primary role of a data center in an organization?

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

Why is 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 benefit of having access to information on the Web?

Ability to apply discovery capability to various areas Signup and view all the answers

What is the implication of the democratic nature of the Web?

Anyone can post information without quality assurance 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 a core banking solution (CBS) platform Signup and view all the answers

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

To change the day-to-day operation of the bank 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 type of services can a bank outsource according to the IT manual?

All of the above Signup and view all the answers

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

To manage and maintain the bank's IT systems Signup and view all the answers

What is outsourcing in the context of banking?

When a bank contracts out IT services to another company Signup and view all the answers

What is the importance of data in an organization?

It is a vital resource that needs to be managed Signup and view all the answers

What type of services can be outsourced in Technology Operations?

All of the above Signup and view all the answers

What is information in the context of data?

Data that has been processed, organized, and structured Signup and view all the answers

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

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

What is the lowest unit of data in a computer system?

Bit Signup and view all the answers

What is a collection of related files in a database?

Database Signup and view all the answers

What is an example of a database management system (DBMS)?

Microsoft Access Signup and view all the answers

What is the primary role 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)?

The process of delegating IT 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 primary objective of the IT Department?

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

What does the IT Department do in relation to IT system security?

It maintains constant IT system security and analyzes IT security incidents Signup and view all the answers

What is the role of the Chief Information Technology Officer?

To lead the IT divisions Signup and view all the answers

What is one of the functions of the IT Department?

To procure new hardware and software Signup and view all the answers

What is the purpose of the IT infrastructure?

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

What does the IT Department do in relation to the Central Bank?

It keeps in contact and coordinates actions with the Central Bank Signup and view all the answers

What is one of the functions of the IT Department in relation to supervised financial market participants?

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

What is the result of technological advancements and the development of global networks?

Reduced cost of global funds transfer Signup and view all the answers

What do customers expect from banks regarding banking services?

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

IT Chapter-3

Podcast Beta

Questions and Answers

What was the number of Internet Banking transactions in 2020?

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

Why do customers get locked with their User ID?

What is a limitation of the present Internet Banking system?

What is a cyber-attack related challenge faced by banks?

What is the primary implication of the democratic nature of the Web?

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

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

What is the role of alternative delivery channels in the banking sector?

What is the core banking solution (CBS) platform used for in the banking industry?

What is the primary role of technology in the banking industry?

What is the result of banks' investments in ICT platforms and Information systems?

What services do banks in Bangladesh offer to their customers?

What is the outcome of banks' establishment of large ATM and POST networks?

What is the ultimate goal of banks' adoption of technology?

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

What is the platform that integrates various delivery channels such as ATM, Internet, and Phone?

What is one of the functions supported by the CBS?

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

What is an example of a delivery channel integrated by the Core Banking Solution platform?

What is the main benefit of consolidating customer data, business data, and transactional data for a bank?

What is the primary function of mobile banking applications?

What is a key advantage of advanced security integration in core banking software?

Why is it important for a banking solution to be able to communicate with customers through SMS or email?

What is the benefit of having virtual banking platforms?

What is the primary function of an ATM card reader?

What is the advantage of using an ATM operated directly by the bank that holds the account?

What is the primary purpose of an ATM keypad?

What is the primary record of an ATM transaction?

What is the primary benefit of ATMs in terms of banking transactions?

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

What is one of the applications integrated with the core banking system?

What is the purpose of the Data Warehouse?

What is one of the benefits of the core banking system and various initiatives?

What is one of the services provided by the Internet Payment Gateway?

What is the primary function of the IT infrastructure in the bank?

What is one of the applications integrated with the core banking system for customer use?

What is the primary role of the IT Department in implementing IT development projects?

What is one of the benefits of the core banking system and various initiatives to the customers?

What is the primary function of the Risk Management application?

What is the primary purpose of a data center in an organization?

What is a critical component of data center design?

What is the primary objective of a data center's design?

What is a critical aspect of a data center's design?

What is the primary role of a data center in an organization?

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

What is the purpose of accounting in data access control?

What is multifactor authentication used for in data access control?

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

What are the three primary components of data access control?

What is the primary purpose of outsourcing Technology Operations in a bank?

What is a key advantage of outsourcing Front Line IT Support in a bank?

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

What is the primary benefit of outsourcing Application Development, Maintenance and Testing in a bank?

What is the primary purpose of outsourcing Cash Management and Collections in a bank?

What is the primary implication of the Web's democratic nature?

What is the primary outcome of introducing computer and internet facility in the banking industry?

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

What is the primary benefit of the Internet in the context of the banking industry?

What is the primary characteristic of the Web that users should be aware of?

What is the primary function of a database in an organization?

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

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

What is the purpose of a database in an organization?

What is an example of popular database software or DBMS?

What is the main purpose of the IT Department in terms of IT system security?

Which of the following divisions is responsible for developing the IT infrastructure?

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

What is the purpose of outsourcing IT jobs?

Which of the following is a function of the IT Department?

What is the primary benefit of separating the IT Department into divisions?

What is the primary role of the Chief Information Technology Officer?

What is the primary function of the IT Department in terms of IT services?

What is the primary benefit of the IT Department's functions?

What is the primary purpose of the IT Department's IT system security checks?

What has enabled banks to meet the high expectations of customers who are more demanding and technologically savvy than their previous generation?

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