Questions and Answers
What is Mobile Banking also known as?
Online Banking
What does Bank Account Management (BAM) consist of?
Policies, procedures, and actions related to business accounts
What are the security concerns associated with Mobile Banking?
Identity theft and unauthorized transactions
What does Mobile Banking allow you to do?
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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
