Business Analysis Retail Banking Essay - 2198 Words

Introduction: Retail Banking To keep in pace with the ever changing customer needs and preferences, banking sector is undergoing a rapid revolution in the recent past. New financial products are being innovated day by day. The bankers being aware of the fact that the plain vanilla products cannot satisfy the demanding customers. Several creamy layers have developed .One such nourishing layer is the introduction of retail banking services. Retail banking segment is continuously undergoing innovations, product re-engineering, adjustments and alignments. Meaning: Retail banking is a typical mass-market banking in which individual customers use local branches of larger commercial banks. Services offered include savings and checking accounts, mortgages, personal loans, debit/credit cards and certificates of deposit (CDs). Explanation: Retail banking is that part of bank’s operations providing services at its branches for small account holders. In short, retail banking is the banking services for individual customers. The term ‘Retail Banking’ encompasses various financial products viz., different types of deposit accounts, housing, consumer, auto and other types of loan accounts, demat facilities, insurance, mutual funds, Credit and Debit Cards, ATM and other technology-based services, stock-broking, payment of utility bills, reservation of railway tickets, etc., catering to diverse customer groups, offering a host of financial services, mostly to individuals. It takes care ofShow MoreRelatedA Comprehensive Research On Anz Banking Group Ltd.1658 Words   |  7 PagesANZ Banking Group Ltd.’s International business strategy, utilizing the concepts of Global Project Management. 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