Question 1
"Hyper-personalization" in retail banking marketing is achieved primarily through:
View Explanation
Hyper-personalization moves beyond segment-based marketing to individual-based marketing, using real-time data (e.g., offering a travel loan the moment a customer books a flight ticket).
Question 2
Open Banking primarily relies on which technology to share data securely?
View Explanation
APIs allow third-party providers (like Fintech apps) to access bank data securely (with consent) to offer integrated financial services.
Question 3
Which feature of Blockchain ensures that data once recorded cannot be altered (tamper-evident)?
View Explanation
Immutability is achieved through cryptographic hashing. Changing one block would require changing all subsequent blocks, which is computationally impossible in a decentralized network.
Question 4
The "Account Aggregator" (AA) framework in India is designed to facilitate:
View Explanation
Account Aggregators are RBI-regulated NBFCs that enable individuals to share their financial data across institutions digitally and securely, with explicit consent.
Question 5
Chatbots in banking primarily utilize which technology to improve over time?
View Explanation
ML allows Chatbots to "learn" from past interactions. The more they converse with humans, the better they become at understanding intent and providing accurate answers.
Question 6
Which of the following is a valid application of Blockchain in banking?
View Explanation
Blockchain's distributed ledger ensures transparency and immutability, making it ideal for tracking trade documents (LCs) and sharing secure KYC data between institutions without duplication.
Question 7
In Big Data analytics, "Veracity" refers to:
View Explanation
The 4 Vs are Volume (Scale), Velocity (Speed), Variety (Forms), and Veracity (Uncertainty/Quality). Poor veracity (bad data) leads to bad decisions.
Question 8
Which Cloud Computing model allows banks to use software (like CRM or HRMS) hosted by a vendor over the internet without installing it locally?
View Explanation
SaaS delivers applications over the internet. Banks use SaaS for non-core applications to reduce IT maintenance costs and ensure easy scalability.
Question 9
Open Banking primarily relies on which technology to share data securely?
View Explanation
APIs allow third-party providers (like Fintech apps) to access bank data securely (with consent) to offer integrated financial services.
Question 10
Which feature of Blockchain ensures that data once recorded cannot be altered (tamper-evident)?
View Explanation
Immutability is achieved through cryptographic hashing. Changing one block would require changing all subsequent blocks, which is computationally impossible in a decentralized network.
Question 11
Which AI technology allows Chatbots to improve their responses over time without explicit programming?
View Explanation
ML algorithms enable chatbots to learn from historical interactions, identify patterns in customer queries, and refine their answers automatically.
Question 12
What is the primary risk of using Social Media for bank marketing?
View Explanation
Social media amplifies consumer voice. A single complaint can go viral instantly, causing significant reputational damage if not handled quickly.
Question 13
"Open Banking" creates value primarily by:
View Explanation
Open Banking fosters innovation by enabling a secure ecosystem where banks share data (with consent) with fintechs, who then create tailored financial management tools and services.
