JAIIB · PPB

Impact of technology Adoption and Trends in Banking Technology

Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Principles and Practices of Banking — JAIIB.

4 video classes 66 one-liners

Quick revision

One-liners from this chapter

Free sample — 8 of 66 rapid-fire Q&A cards.

What is the primary impact of technology adoption on banking operations?

Technology adoption has transformed banking by enabling faster, cost-effective, and more accurate processing of transactions, reducing manual errors and improving customer service delivery.

What is the role of Optical Character Recognition (OCR) in banking document processing?

OCR converts scanned documents into machine-readable digital text.

What does the term 'digital banking' refer to in the context of Indian banking?

Digital banking refers to the digitization of all traditional banking activities and programs, allowing customers to access services through internet, mobile, and other electronic channels without visiting a physical branch.

What is a Payment Aggregator and how does it support merchants?

Payment aggregators collect payments from multiple channels for merchants.

Which RBI initiative promoted the shift toward a less-cash economy in India?

The RBI's thrust on financial inclusion and the government's demonetization in 2016, along with schemes like Digital India, promoted a less-cash economy by encouraging digital payment adoption.

What is the concept of 'Banking as a Service' (BaaS)?

BaaS allows third parties to access banking functions via APIs.

What is Core Banking Solution (CBS) and how does it benefit banks?

CBS is a centralized banking platform where all branches of a bank are connected to a central database, enabling customers to perform transactions from any branch or channel in real time.

What is a chatbot and how is it used in banking customer service?

Chatbots use AI to answer customer queries automatically anytime.

Unlock all 66 one-liners

Self-quiz mode with hidden answers + printable deck.

Open the deck

Watch & learn