Answer :
The correct answer to the question is option C: The CIB Form should be signed by an authorized signatory as per Finacle MOP and should not be self-authorized by the user whose details are to be modified/created.
Here's why:
Purpose of CIB Form: A CIB Form, which likely stands for Customer Information Base form, is used in a banking context to either modify or create customer details within a bank's database application, such as Finacle.
Authorized Signatory: In banking and financial contexts, an authorized signatory refers to a person who has been given the legal authority to sign documents and approve actions on behalf of an organization. For forms like the CIB, this typically means someone with the necessary permissions and knowledge to verify the accuracy and legitimacy of the changes.
Importance of Regulations and Protocols: The restrictions on who can sign such forms help maintain security and integrity in handling sensitive customer information, thereby preventing unauthorized access or changes. Following these protocols ensures that any modifications to customer data are legitimate and verified.
Therefore, it is crucial for the CIB Form to be signed by an authorized signatory, rather than being self-authorized by the user who is the subject of the modification, to uphold data security and compliance with standard operating procedures.
