Cloud Computing in Banking Quiz

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

• Allowing customers to manage physical hardware themselves

• Offering a development environment for software engineers

• Providing raw computing power and storage for IT teams

• Providing software applications over the Internet without requiring local installation.

How does cloud computing help financial institutions reduce costs?

• By requiring heavy upfront investments in physical infrastructure

• By offering a pay-as-you-go model that reduces 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 centralizing all banking data in a single server, reducing access points

• By using encryption and fraud detection to prevent unauthorized access and cyberattacks

• By allowing banks to bypass government regulations and legal compliance

• By ensuring 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 exclusively used by financial institutions.

• It replaces all physical servers in an organization.

• It is cheaper than all other cloud models.

Which of the following is a key benefit of cloud-based CRM for banks?

• Increases face-to-face interactions with customers

• Slows down account creation to improve security

• Enables real-time data analysis for better customer insights

• Requires manual approval for every transaction

Which of the following best explains how cloud computing accelerates banking innovation?

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

• Cloud computing prevents 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-driven solutions

Which of the following is an example of a public cloud application?

• Netflix and Google Drive

• A private banking data center

• An internal company HR management system

• A government-only database

Which of the following was NOT a reported benefit of PVcomBank’s cloud transformation?

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

• Enhanced IT efficiency, cutting expenses by up to 40%

• Increased customer conversion rates from 0.5% to 3.5%

• Elimination of all cybersecurity risks associated with cloud adoption

What was a major cybersecurity lesson learned from the Bangladesh Bank cyber heist?

• Cloud security systems are completely immune to cyberattacks

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

• Banks should avoid adopting cloud computing to minimize risks

• Compliance regulations alone are sufficient to prevent cybercrimes

Why does reliance on third-party cloud providers present 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 manually maintain all cloud security configurations