SACOMBANK

What are the main characteristics of lending activities in commercial banks?

• Interest rates, fees, and customer service

• Repayment, risk, and profitability

• Collateral, repayment schedules, and penalties

• Duplication, transaction types, and profiles

What is the primary purpose of commercial lending?

• To provide financial aid to non-profit organizations

• To offer savings accounts to customers

• To generate revenue for banks through interest on loans

• To provide free financial advice

Which of the following best describes short-term loans?

• Loans for less than a year, often used for immediate cash needs

• Loans with repayment periods of more than five years, often used for large projects

• Loans typically repaid in one to five years for business expansion

• Loans granted with a predetermined credit limit for ongoing business needs

How do technologies like AI and RPA impact the lending process?

• They eliminate the need for any human interaction during the loan approval process

• They slow down the loan approval process by adding complex steps

• They restrict customer access to financial information

• They automate both the credit review and approval processes, enhancing efficiency

What is a significant advantage of using technology in the lending process at banks in Viet Nam?

• It accelerates loan application processing and approval

• It enhances data privacy for all customers

• It limits access to loans for non-tech-savvy individuals

• It removes the need for customer interactions

What concern is associated with automated credit evaluations in the lending process?

• They guarantee equal loan access for all applicants

• They may result in biased assessments affecting lending opportunities

• They eliminate the need for financial assessment altogether

• They ensure higher interest rates for all borrowers

What challenge do borrowers face due to the rise of online lending platforms?

• Increased understanding of lending terms and conditions

• Access to multiple loan options with detailed requirements

• Risk of excessive borrowing due to a lack of knowledge

• Improved security measures for sensitive information

What is a key benefit of digital transformation in lending for customers?

• Improved customer experience

• Increased paperwork for loan applications

• Limited access to banking services

• Higher interest rates on loans

How does digital transformation optimize processes in banks?

• By eliminating the need for technology

• By reducing competition from fintech companies

• By increasing bureaucratic procedures

• By automating loan approval processes and reducing costs

What issue is paramount for banks to address in the context of digital transformation?

• Reducing the number of customers served

• Ensuring information security and customer privacy

• Increasing the physical presence of bank branches

• Limiting technological advancements