What has compelled banking and financial service industries to implement technology at their core?

"Demonetization" "The rise of e-commerce" "Increased competition" "Government regulations"

What is a key challenge faced by banks in providing digital services?

"Data security" "KYC verification" "Lack of infrastructure" "Customer adoption"

What is the primary benefit of data aggregation for digital banks?

"Improved security" "Reduced costs" "Personalized financial solutions" "Targeted advertising"

What is the concept of 'Open Banking'?

"Sharing customer data with secured third-party vendors" "Providing 24/7 customer service" "Offering borderless banking services" "Implementing invisible banking technologies"

What is an example of a multi-layered security control used in digital banking?

"Biometric authentication" "Two-factor authentication" "Data encryption" "Firewall protection"

What is 'Invisible Banking'?

"Banking services without physical branches" "AI-powered banking services" "Voice-based or IVRS-based banking" "Blockchain-based banking"

What is the primary goal of fintech solutions in the financial services industry?

"Replacing traditional banks" "Enhancing customer experience" "Reducing regulatory compliance" "Increasing profits"