General Studies · Digital Retail Banking
In the context of the digitalization of retail banking products, which architectural framework enables the seamless integration of third-party financial service providers with a bank's core banking system to offer value-added services?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Legacy Mainframe Batch Processing Framework
- 2Application Programming Interface based Open Banking Architecture✓
- 3Service-Oriented Architecture with Enterprise Service Bus
- 4Closed-Loop Proprietary System Architecture
Correct answer
Application Programming Interface based Open Banking Architecture
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