My names Henri Miller. I look after their needs and any of their requirements in terms of banking. These clients are considered the higher net-worth clients. I deal with all aspects of their life using the four cornerstones of Scotiabank.
Consumers expect a range of basic services from retail banks, such as checking accounts, savings accounts, personal loans, lines of credit, mortgages, debit cards, credit cards and CDs.
Through local branch locations, financial representatives provide customer service and financial advice. Financial representatives are also the lead contact for underwriting applications related to credit-approved products.
Expanded Services in Retail Banking Banks are adding to their product offerings to provide a greater range of services for their retail clients.
In addition to basic retail banking accounts and customer service from local branch financial representatives, banks are also adding teams of financial advisors with broadened product offerings, with investment services such as wealth managementbrokerage accountsprivate banking and retirement planning.
Some of these ancillary services are also offered through outsourced third-party affiliations. All of the expanded offerings allow for increased convenience through greater connectivity of accounts, which helps customers to access funds and make personal transactions more quickly and easily.
Internet Finance and Retail Banking In the 21st century, a movement towards internet finance banking operations has also broadly expanded the offerings for retail banking customers.
Several online banks now provide banking services to customers purely through internet and mobile applications. These banks offer nearly all of the accounts and services provided by traditional banks, often with lower fees from reduced banking branch expenses.
Examples of these banks include Simple, Moven and GoBank. Banking Landscape Profile Inthe top five largest U. As a leading U.Partner to individual clients and entrepreneurs. With over 8, staff serving million customers and a broad range of banking products and innovative services, the BNP Paribas Fortis Retail & Private Banking (RPB) division has a very strong market position.
To find the best innovations in retail banking, you usually need to look beyond North America.
The best evidence of this ongoing trend is a review of winners in major financial innovation competitions worldwide. Retail Banking will focus on helping institutions embrace the customer demands and market requirements necessary to remain relevant and pursue continued opportunities for growth in .
Public Bank (Hong Kong) provides a wide range of retail banking services, including personal loans, stocks and securities investment, HKD time deposits, RMB deposit, foreign currency deposits, mortgage, credit cards, HP & Leasing and other services.
2 Understanding customer behavior in retail banking The impact of the credit crisis across Europe Without doubt, the credit crisis has had a profound and lasting effect on the way in which European customers interact with the banks that they serve.
Retail banking, also known as consumer banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are .