Digital Banking
Name the service allowing customers to manage and access their finances online.
Online or internet banking
Services offering the immediate or real-time transfer of funds between accounts are known as?
Real-time payments.
Which regulation mandates customer identity verification by financial institutions?
KYC (know your customer).
Name the security protocol that ensures data transmitted between your browser and the website is encrypted.
HTTPS (Hypertext Transfer Protocol Secure).
Name the technology that enables two devices to communicate wirelessly when they are close to each other.
NFC (Near Field Communication).
Banks operating exclusively online, without physical branches are known as?
Neobanks or digital-only banks.
Name the technology that enables cryptocurrencies like Bitcoin.
Blockchain.
What European regulation mandates banks to open their APIs to third parties?
PSD2 (Payment Services Directive 2).
What type of security breach involves stealing someone's private information to impersonate them?
Identity theft.
What is the use of complex algorithms to automatically execute trades in the stock market?
Algorithmic trading.
This is a common technology used to enable secure mobile payments using smartphones.
NFC (Near Field Communication).
These platforms allow individuals to lend and borrow money without using a financial institution as an intermediary.
P2P lending platforms.
Name the U.S. law designed to combat money laundering.
Bank Secrecy Act (BSA).
Which type of cyber attack prevents users from accessing a computer system until a ransom is paid?
Ransomware.
Which technology allows for the creation of smart contracts that automatically execute when conditions are met?
Blockchain.
Which banking service allows customers to deposit a check by taking a photo with their smartphone?
Mobile check deposit.
This service utilizes algorithms and automated trading strategies to manage an investor's portfolio.
Robo-advisors.
What term is used to describe the secure handling of credit card transaction data?
PCI DSS (Payment Card Industry Data Security Standard).
What is the practice of creating and using strong, unique passwords for different online accounts known as?
Password hygiene.
Name the technology that enables secure, multi-party computation without sharing raw data.
Homomorphic encryption.
This technology allows customers to have a conversation with banks through automated platforms 24/7.
Chatbots or virtual assistants.
Name the innovation that uses AI to provide personalized advice and manage a user’s finances.
Personal finance management tools or apps.
Which global initiative aims to combat tax evasion by sharing taxpayer information?
Common Reporting Standard (CRS).
Name the approach that assumes breaches are inevitable and focuses on detecting and responding to threats.
Zero-trust security model.
Which technology is evolving the financial industry by simulating human intelligence in machines?