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Questions and Answers
What is Mobile Banking also known as?
What is Mobile Banking also known as?
- E-Banking
- Virtual Banking
- Online Banking (correct)
- Digital Banking
What does Bank Account Management (BAM) consist of?
What does Bank Account Management (BAM) consist of?
- Managing cash transactions in a bank
- Regulatory reporting and compliance only
- Policies, procedures, and actions related to business accounts (correct)
- Negotiating mortgage rates
What are the security concerns associated with Mobile Banking?
What are the security concerns associated with Mobile Banking?
- Accounting errors in bank statements
- Physical security of bank branches
- Identity theft and unauthorized transactions (correct)
- Credit card fraud prevention
What does Mobile Banking allow you to do?
What does Mobile Banking allow you to do?
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What are the interrelationships managed in Bank Account Management (BAM)?
What are the interrelationships managed in Bank Account Management (BAM)?
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Study Notes
Mobile Banking
- Also known as M-Banking or Mobile Money
Bank Account Management (BAM)
- Consists of viewing account balances, transaction history, and fund transfers
Security Concerns
- Privacy and authentication risks due to mobile device limitations
- Vulnerability to malware, phishing, and data breaches
- Risk of unauthorized access to personal financial information
Mobile Banking Features
- Check account balances and transaction history
- Perform fund transfers between accounts
- Pay bills and view payment history
- Manage account alerts and notifications
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