Karnataka Bank has won six awards for excellence in banking technology

Current Context: On January 28, 2025, Karnataka Bank was honored with six awards for excellence in banking technology at the 20th Annual Banking Technology Conference, Expo & Citations, 2024, organized by the Indian Banks’ Association (IBA).

• These awards recognize the bank's significant achievements in various areas of technology and innovation.
• Here are the key highlights:
• Runner-Up Awards:
• Best Tech Talent and Organization: Acknowledges the bank's exceptional team and organization of tech talent.
• Best IT Risk Management: Recognizes the bank's effective strategies and practices in managing IT risks.
• Best Technology Bank: Highlights the bank's overall excellence in adopting and implementing technology solutions.
• Special Mentions:
• Best Digital Sales, Payments, and Engagement: Appreciates the bank's innovative approaches in digital sales, payments, and customer engagement.
• Best AI and ML Adoption: Recognizes the bank's successful integration of artificial intelligence and machine learning in its operations.

Question:

1. At the 20th Annual Banking Technology Conference, Karnataka Bank received the Runner-Up Award for which of the following categories?

• A) Best IT Risk Management
• B) Best AI and ML Adoption
• C) Best Digital Sales, Payments, and Engagement
• D) Best Cyber Security Practices

Answer: A) Karnataka Bank was honored with Runner-Up Awards in three categories, including Best IT Risk Management, which recognizes its strong IT risk management practices.