Read the passage carefully and write the answers (I-IV) in the answer script.

Digital banking has transformed the financial services sector by integrating advanced technologies into traditional banking operations. It refers to the delivery of banking products and services through digital platforms, enabling customers to conduct transactions remotely without physical interaction with bank personnel Services such as online fund transfers, digital payments, account management, investment tracking, and loan applications can now be completed through mobile applications and web-based portals.

The widespread adoption of digital banking has been driven by its ability to enhance efficiency, accessibility, and customer experience. Financial institutions benefit from reduced operational costs, while customers gain round-the-clock access to services regardless of geographical location. Furthermore, digital banking promotes financial inclusion by extending banking facilities to populations in remote and underserved areas.

Despite its numerous advantages, digital banking presents significant challenges. Cybersecurity threats, including data breaches, identity theft, and phishing attacks, pose substantial risks to both institutions and consumers. Consequently, banks invest heavily in technologies such as encryption, biometric authentication, and artificial intelligence-based fraud detection systems to strengthen security frameworks.

The future of digital banking is likely to be shaped by emerging technologies such as artificial intelligence, blockchain, and open banking ecosystems. These innovations have the potential to deliver more personalized financial solutions, increase transparency, and improve the overall efficiency of financial markets. As digital transformation accelerates, ensuring a balance between innovation, security, and regulatory compliance will remain a critical objective for financial institutions worldwide.

Briefly answer the following questions in your own words based on the reading passage: