Banking · Internet Banking
Consider the following statements regarding the features and challenges of Internet Banking: I. It allows integration with financial management software for enhanced budgeting and financial planning. II. It restricts its offerings exclusively to account management and fund transfers, explicitly omitting investment and insurance services. III. Multi-Factor Authentication (MFA) requires users to authenticate their identity using multiple factors such as passwords, one-time codes, or biometrics. IV. A major challenge involves limited digital literacy, which particularly affects older demographics. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, III and IV Only✓
- 2I, II and IV Only
- 3II, III and IV Only
- 4I, II and III Only
Correct answer
I, III and IV Only
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