CLOUD COMPUTING

What is the main function of Software as a Service (SaaS)?

• Allows customers to manage their own physical hardware

• Provides a development environment for software engineers

• Provides raw computing power and storage for IT teams

• Delivers software applications over the Internet without the need for local installation.

How does cloud computing help financial organizations reduce costs?

• By requiring large investments in physical infrastructure

• By providing a pay-as-you-go model that helps reduce unused resources

• By increasing the complexity of IT management

• By making banks independent of external vendors

How does cloud computing enhance both security and compliance in the banking sector?

• By concentrating all banking data into a single server, reducing access points

• By using encryption and fraud detection to prevent unauthorized access and cyber attacks

• By allowing banks to bypass government regulations and legal compliance

• By ensuring that all customer data remains accessible without authentication

What is the main benefit of a hybrid cloud?

• It balances security from a private cloud with the scalability of a public cloud.

• It is only used by financial organizations.

• It replaces all physical servers in an organization.

• It is cheaper than all other cloud models.

What is the main benefit of cloud-based CRM for banks?

• Enhancing direct interaction with customers

• Slowing down the account creation process to improve security

• Allowing real-time data analysis for better customers insights

• Requiring manual approval for each transaction

What is the best way to explain how cloud computing accelerates innovation in banking?

• Banks can develop, test, and launch new services faster by leveraging cloud-based tools

• Cloud computing hinders banks from implementing automation, ensuring manual control

• Cloud-based banking systems require long development cycles before releasing new services

• Banks using cloud services face strict limitations on deploying AI-based solutions

Which example is a public cloud application?

• Netflix and Google Drive

• A private bank data center

• An internal human resource management system of a company

• A database exclusively for the government

Which benefit was not reported during PVcomBank's cloud transformation process?

• Faster service deployment, reducing time to market by 50%

• Improved IT efficiency, cutting costs by up to 40%

• Increased customer conversion rate from 0.5% to 3.5%

• Elimination of all cybersecurity risks associated with cloud adoption

What major lesson about cybersecurity was learned from the cyber attack on the Bangladesh Bank?

• Cloud security systems are completely immune to cyber attacks

• Strong security measures are necessary to prevent large-scale financial theft

• Banks should avoid adopting cloud computing to minimize risk

• Compliance regulations alone are sufficient to prevent cybercrime

Why does dependence on third-party cloud providers pose challenges for banks?

• Banks lose direct control over cloud infrastructure and service uptime

• Third-party cloud providers do not comply with financial regulations

• Cloud providers restrict banks from using AI-based security measures

• Banks must maintain all cloud security configurations themselves