Core Banking System Flashcards
______ is a technology which allows machines to read and process cheques enabling thousands of cheque transactions in a short time.
MICR
MICR stands for
Magnetic Ink Character Recognition
ECS stands for
Electronic Clearing system
The dependence on technology in banking for most of the key banking services and processes has led to various challenges except
Facilitate ECS
________ refers to the common IT solution wherein a central shared database supports the entire banking application.
CBC
Popular CBS Software
Finn One
Finele
Bank mate
Features of the core banking system
On-line real-time processing
All databases updated simultaneously
anytime, anywhere access to customers
Which of the following is not a core banking service?
Advance
Reporting
Letters of credit
Deposits
Reporting
Which of the following is an application control?
Configuring system software
transaction logging
setting parameters in masters
Backup of data
Transaction logging
IBAS stands for
Internet banking application server
_________ is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector.
Basel III
Artificial neural network logic is also known as
Artificial Intelligence
All banking firms including cooperative banks in India are regulated by the legislation_________
Banking Regulation Act 1949
What is the primary objective of SPDI?
Securing personal information
The IT Act was passed in 2000 and amended in 2008, but the IT Act rules were passed in?
2011
