Banking · Retail Banking and Digital Data Privacy
In modern retail banking, which primary challenge do banks face when integrating third-party fintech services with core banking systems while adhering to data protection laws?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Mandatory requirements to share all customer banking data with third parties without individual customer consent.
- 2The statutory requirement to maintain a minimum capital adequacy ratio of 25% for all digital lending activities.
- 3Maintaining a unified customer view across legacy systems while ensuring granular consent management as required by privacy laws.✓
- 4The loss of direct control over physical server hardware located in third-party data centers.
Correct answer
Maintaining a unified customer view across legacy systems while ensuring granular consent management as required by privacy laws.
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