General Studies · Banking Technology
Consider the following statements regarding modern banking technology: Statement 1: Artificial Intelligence in retail banking is limited solely to front-end customer interactions and is strictly prohibited by regulators for risk management or database-level decision-making. Statement 2: Open Banking, powered by APIs, allows retail banks to securely share financial data with authorized third-party providers upon explicit customer consent, enabling frameworks like Account Aggregation. Statement 3: Predictive Analytics in retail banking utilizes historical transaction patterns to predict customer churn or proactively suggest solutions like debt restructuring to prevent defaults. Which of the statements given above are accurate?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All statements are accurate
- 2Statement 1 and Statement 3 are accurate
- 3Statement 2 and Statement 3 are accurate✓
- 4Statement 1 and Statement 2 are accurate
Correct answer
Statement 2 and Statement 3 are accurate
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