MODULE 6 Flashcards
Enhances capabilities like fraud detection, personalized banking, and customer service automation
Artificial intelligence and machine learning
A decentralized alternative to traditional banking with secure and transparent transaction processing
Cryptocurrencies and blockchain
Fill-in-the-blank: Uses _______ or _______ recognition to enhance security in electronic banking
bIOMETRIC TECHNOLOGY (Fingerprint, facial recognition)
A system that allows third-party applications to access bank data with user consent
Open banking
Regulatory frameworks struggle to keep up with advancements in technology
Regulatory compliance
Exposes banks to phishing, ransomware, and data breaches
Cybersecurity threats
Pushes traditional banks to innovate or risk losing customers
Fintech companies
Fill-in-the-blank: _______ uses historical data to identify patterns and predict future trends
Time series analysis
Relies on random sampling and statistical modeling to estimate outcomes
Monte Carlo simulation
Analyzes vast datasets for complex patterns, providing adaptive forecasting
Machine learning algorithms
Prepares organizations for multiple future scenarios by analyzing external factors
Scenario planning
Emphasizes strategic foresight, sustainability, and innovation to create long-term value
Forward-thinking approach to finance
Aligns financial strategies with Sustainable Development Goals (SDGs)
Sustainability in finance
Fill-in-the-blank: Blockchain enables secure and efficient _______ through decentralized systems
Transactions
Promotes interoperability through guidelines for open banking
BSP open banking initiative
Uses AI-powered solutions to assist customers with inquiries and transactions
Chatbots
Reduces costs and processing times in cross-border transactions
Blockchain technology
Promotes financial inclusion through mobile payments
GCash
Collaborates with digital platforms to promote financial inclusion in the Philippines
Bangko Sentral ng Pilipinas
Focuses on protecting customer privacy and security in digital banking
Cybersecurity guidelines
Enhances customer engagement using AI algorithms
JPMorgan Chase
Fill-in-the-blank: End-to-end _______ increases customer security in digital banking
Encryption
Helps understand how variables like advertising spend influence outcomes
Regression analysis
Fill-in-the-blank: _______ planning prepares organizations for multiple future scenarios
Scenario
Offers green financing for renewable energy projects
Sustainability in finance
Encourages banks to adopt digital wallets for underserved populations
Financial inclusion through fintech
Simulates adverse market scenarios to adjust risk strategies
Stress testing
Facilitates partnerships with fintech firms to improve inclusivity
Open banking
Provides predictive analytics to improve risk assessments
Artificial intelligence
Expands financial access in rural areas through digital solutions
GCash
Fill-in-the-blank: _______ bonds fund renewable energy projects and support Climate Action
Green
Combines blockchain and AI to enhance transaction security
Fintech integration
Forecasts loan default rates using machine learning
Predictive analytics
Helps prepare organizations for potential market downturns
Stress testing practices
Fill-in-the-blank: Digital _______ workshops enhance banking adoption in rural areas
Literacy
Issues green bonds to fund renewable energy projects
Climate action
Assesses the effectiveness of digital banking security systems
Cybersecurity risk assessment
Predicts customer needs to personalize banking services
AI algorithms
Fill-in-the-blank: _______ banking promotes customer-centric solutions through API platforms
Open
Prepares for diverse economic scenarios by analyzing historical data
Time series analysis
