Technology Trends In Banking
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Principles and Practices of Banking — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What is Core Banking Solution (CBS) in the context of Indian banking?
CBS is a centralized software platform that connects all branches of a bank, enabling customers to access their accounts and perform transactions from any branch regardless of where the account was opened.
What is Fintech and how is it transforming traditional banking?
Fintech uses technology to deliver financial services innovatively.
Which RBI initiative mandated Indian banks to migrate to CBS for better customer service?
RBI's Financial Inclusion and branch expansion policies pushed banks to adopt CBS, and NABARD supported rural cooperative banks in CBS migration through grant-based funding schemes.
What is Big Data Analytics and its use in banking?
Big Data Analytics processes vast data to derive actionable banking insights.
What does the term 'Anytime Anywhere Banking' refer to in technology-driven banking?
It refers to the ability of customers to access banking services 24x7 from any location through channels like internet banking, mobile banking, ATMs, and phone banking, enabled by CBS infrastructure.
What is the Internet of Things (IoT) and its relevance to banking?
IoT connects devices enabling smarter banking and customer data collection.
What is Internet Banking and how does it differ from Mobile Banking?
Internet Banking allows customers to perform transactions via a web browser on a computer or laptop, while Mobile Banking uses dedicated apps or USSD on smartphones and feature phones, making it more accessible on the go.
What is Robotic Process Automation (RPA) in banking operations?
RPA automates repetitive banking tasks using software robots.
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