Risk faced by financial institutions in which advancement of technology does not produce savings in cost is classified as

A. savings risk

B. advance risk

C. cost risk

D. technology risk

Answer: Option D

Solution(By Examveda Team)

Risk faced by financial institutions in which advancement of technology does not produce savings in cost is classified as technology risk. Technology risk is any potential for technology failures to disrupt your business such as information security incidents or service outages. The potential for losses due to technology failures.