In the context of Spark Structured Streaming, fault tolerance is a critical feature that ensures data processing can continue despite failures. Consider a scenario where a financial institution is processing real-time transaction data to detect fraudulent activities. The institution requires a solution that not only recovers from failures but also minimizes data loss and processing delays. Given the importance of checkpointing in achieving fault tolerance, which of the following statements best describes how checkpointing can be implemented and its benefits in this scenario? (Choose one correct option)