abhishreshthaa

New member
Retail banking sector is characterized by three basic characteristics:


o Multiple products (deposits, credit cards, insurance, investments and securities)


o Multiple channels of distribution (call center, branch, internet)


o Multiple customer groups (consumer, small business, and corporate)
 
Meaning and Definition of Retail Banking

Retail banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transaction accounts, mortgages, personal loans, debit cards, and credit cards.

1) Retail banking is that it increases the overall business of the banks

2) It is easy to sell third party products like insurance, mutual fund

3) Brand loyalty of retail customers is higher as compared to large companies

:SugarwareZ-299:
 

jayashreemarg

Par 100 posts (V.I.P)
Retail banking is, however, quite broad in nature %u2013 it refers to the dealing of commercial banks with individual customers, both on liabilities and assets sides of the balance sheet.
 
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