Here are some MCQs on Technology in Remittance
1. What is the purpose of banking technology in remittance?
a) To facilitate faster and more secure international money transfers
b) To reduce the cost of money transfers for customers
c) To streamline the process of sending and receiving money globally
d) All of the above
2. What technology is commonly used for remittance transactions?
a) Online banking
b) Mobile banking apps
c) Wire transfers
d) All of the above
3. What is the benefit of using banking technology for remittance?
a) Faster transfer times
b) Lower fees
c) Increased security
d) All of the above
4. What is the primary challenge faced by banking technology in remittance?
a) Ensuring compliance with international regulations
b) Protecting against cyber threats and fraud
c) Dealing with currency exchange rates
d) Limited accessibility for individuals without access to technology
5. How does banking technology improve the speed of remittance transactions?
a) By automating the transfer process
b) By integrating with international payment networks
c) By utilizing real-time payment systems
d) All of the above
