CAIIB IT NOTES 2022 | E-COMMERCE, PAYMENT GATEWAY, AND AUTHENTICATION
CAIIB IT NOTES 2022, CAIIB STUDY MATERIAL, CAIIB EXAM 2022, E-COMMERCE, SECURE ELECTRONIC TRANSACTIONS, PAYMENT GETAWAYS, VISA and MASTERCARD
CAIIB EXAM is one of IIBF’s premium flagship courses, held biannually (twice a year) for employees with JAIIB Certification around the country. The CAIIB is one of the most demanding courses for bankers to pass. We promise that if you use our “CAIIB study material,” you will pass the CAIIB exam without any hiccups.
Every two years, the CAIIB EXAM is held. Before taking the CAIIB EXAM, candidates must have completed the JAIIB. Additional pay increases are available to CAIIB-qualified bankers. The CAIIB 2022 exam will be held on 27th November, 04th December, and 10th December 2022.
An optional paper is included in the CAIIB SYLLABUS 2022. Aspirants must make their own decision and select an elective paper from the available possibilities. There are six elective papers that a candidate might choose from based on their interests—one of these Elective papers is Information Technology.
In this article, we are going to cover everything there is regarding this elective exam. You can access all the notes for each module, some free mock test, memory recalled questions, videos, and whatnot on our website www.iibf.info.
MODULE A: Information Technology Overview
- Data communication
- Operating system
- Network equipment
- Packaged software, Custom built software
- The impact of Information Technology on Banking
- Equipment and data communication
- Computer Networks
MODULE B: System and Design
- Tools for Data warehousing and Data mining
- Grid computing, Artificial Neural Network
- Designs and Analysis of system Entity relationships
- Generic Data Modelling
Read Also: CAIIB IT MOCK TEST | CAIIB EXAM PREPARATION
MODULE C: Application in Banking
- Secure Electronic Transfer, Payment Gateways
- Data Downloads/Uploads
- Data Storage device, Data backup, and restoration
- CCA, CA
- ATMs, Internet Banking, Phone Banking
- Credit/Debit Cards, Emails, SMS alerts
MODULE D: Guidelines for Security Control
- Trojan horses
- Service level agreements
- Service Level Management Practices in IT Service Delivery & Support Workload scheduling, network services management, and preventive maintenance are all examples of operations management.
ABOUT SECURE ELECTRONIC TRANSACTIONS
Secure electronic transaction (SET) was an early electronic debit and credit card payment security system used by e-commerce companies. The safe transfer of consumer card information via electronic portals on the internet was made possible with secure electronic transactions. Merchants, hackers, and electronic thieves could not obtain consumer information because secure electronic transaction protocols blocked out personal details of the card information.
Most major electronic transaction providers, such as Visa and MasterCard, offer secure electronic transaction protocols. These protocols allowed businesses to validate their customers’ card information without viewing it, thereby safeguarding the customer. The credit card information was sent straight to the credit card company for verification.
Digital certificates were assigned to allow electronic access to monies, whether a credit line or a bank account, in the process of secure electronic transactions. When a customer, merchant, or financial institution made an electronic purchase, an encrypted digital certificate was created for them, along with corresponding digital keys that allowed them to confirm the credentials of the other party and verify the transaction.
Only a party with the corresponding digital key would be able to confirm the transaction, thanks to the techniques utilized. As a result, a consumer’s credit card or bank account information could be used to purchase without disclosing personal information, such as account numbers. Secure electronic transactions protect users from identity theft, hacking, and other illicit activities.
APPLICATIONS OF E-COMMERCE
- Electronic billing is a relatively new concept. One of the most significant advantages of e-commerce for consumers and businesses is electronic billing. Banks now allow you to pay your bills automatically via their website or mobile app. Instead of waiting for and depositing a paper check, businesses can send electronic invoices to their clients and receive payment automatically.
- Verification of identification: Identification is something that banks can and should take seriously. A trustworthy financial institution’s role is to ensure that the person spending is the one who should have access to the account’s funds. With the advancement of technology, this has grown more difficult.
- Payments via mobile device: M-commerce, or mobile commerce, is a vital component of e-commerce. For many people, mobile shopping has become the new normal, with the ability to buy anything from a dog sitter to an airline ticket from their phone. However, a smartphone has evolved into another vital e-commerce tool: a digital wallet.
- Solely digital banking: E-commerce has enabled app payments and transactions, paving the way for natural brick-and-mortar banks to retrain their customers. Solely digital banking
- Business-to-business innovation: The way B2B buyers expect their buying and selling experiences to go has altered due to the e-commerce experience. This is primarily due to the impact of e-commerce on banking in B2-B and B2C environments. Banks can now offer speedier account opening, digital invoice payment, and other benefits to B2C customers thanks to e-commerce. B2B buyers have seen similar elements in their non-business lives and are demanding that their B2B experience be more consistent and aligned with the rest of modern life in the marketplace.
- International trade: People can now bank globally or pay for goods and services from another country without having to work around banking laws or exchange rates, thanks to e-commerce. PayPal and other third-party vendors act as intermediaries between e-commerce retailers and banking institutions, and banks.
ABOUT PAYMENT GATEWAYS
QUES: What is the difference between a payment gateway and a payment processor?
Merchants utilize a payment gateway to receive debit or credit card purchases from customers. The word refers to actual card readers and payment processing portals seen in brick-and-mortar establishments. However, in recent years, physical payment gateways have begun to accept phone-based purchases via QR codes or Near Field Communication (NFC) technologies.
QUES: How do Payment Gateways Work?
Payment gateway systems are constantly changing to keep up with changing consumer preferences and technological capabilities. Previously, terminals used magnetic strips to process credit cards and required the client to sign a paper signature. The signature phrase could be replaced with a personal identification number (PIN) inserted directly into the payment gateway hardware as chip technologies advance. Contactless payments are now possible, and many customers opt to pay using their phones rather than traditional credit cards.
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