Select one challenge from below to reflects its relevance with the banking industry, why this is challenging,
Question:
Select one challenge from below to reflects its relevance with the banking industry, why this is challenging, what are the solution suggested by the literature (researchers) and what is the solution you will devise on the basis of your learning.
1. Continous Innovation because of uncertainty or unpredictability of the near future banking sector might capitalize its potential.
2. Regulatory compliances to deal with unethical finance practices such as money laundering or financing the terrorists
3. Security breaches to protect the information of the database
4. changing business models to finance certain small scale business in turn to increase revenue through interest rate
5. antiquated application, people might not grasp the idea of this application
6. outdated mobile experience it poses a threat as if people are not educated enough they might not be able to use banking facilities
7. customer retention customer changing platforms for their own ease
8. rising expectations because customers want more out of their savings in the bank
9. increasing competition multiple platforms introduced for digitalized exchange of currency
10. cultural shift people might just become a paperless currency society.
Expert Answer:
the challenge of 3 Security breaches to protect the information of the database in the context of the banking industry Relevance to the Banking Indust... View the full answer
