Exam Code : S2000-005
Exam Name : IBM Cloud for Financial Services v1 Specialty
Vendor Name :
"IBM"
How can success be evaluated after implementing IBM Cloud for Financial Services?
Reduction in IT staff size
Increased revenue and profitability
Higher customer satisfaction ratings
Decreased infrastructure maintenance costs
Answer: C
Explanation: Success after implementing IBM Cloud for Financial Services can be evaluated based on higher customer satisfaction ratings. Financial institutions aim to provide a seamless and secure user experience, and positive feedback from customers indicates the effectiveness of the cloud solution in meeting their expectations.
What is one of the key motivations for implementing IBM Cloud for Financial Services?
Cost reduction and operational efficiency
Enhanced data security and compliance
Improved customer experience and engagement
Increased scalability and flexibility
Answer: B
Explanation: One of the key motivations for implementing IBM Cloud for Financial Services is to enhance data security and ensure compliance with industry regulations. Financial institutions prioritize the protection of sensitive
customer information and need a secure cloud platform that meets their specific compliance requirements.
Which factor is essential for effectively implementing IBM Cloud for Financial Services?
Strong understanding of cloud computing concepts
Large budget for infrastructure investments
In-house software development capabilities
Comprehensive knowledge of financial regulations
Answer: D
Explanation: Effectively implementing IBM Cloud for Financial Services requires a comprehensive knowledge of financial regulations. Financial institutions must ensure that the cloud solution aligns with regulatory requirements specific to the financial industry, including data privacy, security, and compliance standards.
What is a critical aspect of the customer workload environment for financial institutions?
Continuous software updates
High-speed internet connection
Disaster recovery and business continuity
Virtual reality technology integration
Answer: C
Explanation: A critical aspect of the customer workload environment for financial institutions is disaster recovery and business continuity. Financial institutions handle sensitive financial transactions and must have robust measures in place to ensure uninterrupted operations and safeguard against data loss or system failures.
What should be prioritized during the implementation of IBM Cloud for Financial Services?
Rapid deployment without thorough testing
Minimal disruption to existing business processes
Maximum customization of all cloud services
Adoption of the latest technology trends
Answer: B
Explanation: During the implementation of IBM Cloud for Financial Services, it is essential to prioritize minimal disruption to existing business processes. Financial institutions cannot afford significant interruptions to their operations, and the cloud implementation should be carefully planned and executed to ensure a smooth transition.
Which approach is recommended when framing a technical solution for IBM Cloud for Financial Services?
One-size-fits-all solution for all financial institutions
Customized solution tailored to specific business needs
Minimalistic approach with limited features
Off-the-shelf solution without any configuration options
Answer: B
Explanation: When framing a technical solution for IBM Cloud for Financial Services, it is recommended to adopt a customized approach tailored to the specific business needs of the financial institution. Each institution may have unique requirements and objectives, and a tailored solution ensures that the cloud platform aligns with those needs.
Which feature of IBM Cloud for Financial Services contributes to regulatory compliance?
Multi-factor authentication (MFA)
Real-time data analytics
Machine learning algorithms
Blockchain technology
Answer: A
Explanation: The feature of IBM Cloud for Financial Services that contributes to regulatory compliance is multi-factor authentication (MFA). MFA enhances security by requiring users to provide multiple forms of identification before accessing sensitive data or performing transactions, aligning with regulatory requirements for user authentication.
What are key considerations during the implementation phase of IBM Cloud for Financial Services?
Data migration and integration
Regulatory compliance audits
User training and onboarding
Performance benchmarking and optimization
Answer: A
Explanation: During the implementation phase of IBM Cloud for Financial Services, key considerations include data migration and integration. Financial institutions need to efficiently and securely migrate their data to the cloud platform while ensuring smooth integration with existing systems and applications.
When assessing the customer workload environment, what factors should be considered?
Data residency and sovereignty
Hardware compatibility and availability
Network bandwidth and latency
Application scalability and performance
Answer: A
Explanation: When assessing the customer workload environment, it is crucial to consider factors such as data residency and sovereignty. Financial institutions often have regulatory requirements regarding data storage and processing locations, and the cloud solution should adhere to these requirements to ensure compliance.