Question

The success of E-banking depends upon which of the following?
i. Multi-layer Security System
ii. Risk and Surveillance Management
iii. Updated Flawless Softwares
iv. Stringent Legal Frame-work.

• A. i and ii
• B. i, ii and iii
• C. ii, iii and iv
• D. i, ii, iii and iv

Answer 1

The correct option is B i, ii and iii

1. Website of a bank requires multi-layered security system for safeguarding the privacy of the user. It is supported by seamless surveillance and an updated flawless software. They together enhance the user experience.
   
2. Legal frame-work is secondary in e-banking as its significance arises only at the time of a dispute.
   
3. Hence, for an e-banking to be successful, it requires a multi-layered security system, risk and surveillance management and updated flawless software.