What is an example of a multi-layered security control used in digital banking? Option: "Two-factor authentication", "Biometric authentication", "Firewall protection", "Data encryption"

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

"Two-factor authentication"

"Biometric authentication"

"Firewall protection"

"Data encryption"

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What security measure is commonly used by banks to protect credit card users from fraudulent activities?

Providing insurance against card theft and damage

Sending SMS or email alerts for every card swipe

Regular credit score checks to detect suspicious activity

Mandatory two-factor authentication for online transactions

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

"Data security"

"KYC verification"

"Lack of infrastructure"

"Customer adoption"

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

"The rise of e-commerce"

"Increased competition"

"Demonetization"

"Government regulations"

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What is the primary reason the author refers to banking as the "first and most digitized industry"?

"The complex regulations surrounding banking"

"The ease of digital transactions in modern banking"

"The long history of banks"

"The widespread use of physical bank branches"

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What is 'Invisible Banking'?

"AI-powered banking services"

"Voice-based or IVRS-based banking"

"Blockchain-based banking"

"Banking services without physical branches"