Glossary

Retail Banking

A
Agile Development AIOps Analytics Platform API Integration API Management Application Modernization Artificial Intelligence Augmented Reality
B
Banking as a Platform Banking as a Service Big Data Business Analytics
C
Claim Automation Claims Management Clinical Research Clinical Software Cloud Advisory Cloud Deployment Cloud Infrastructure Cloud Migration Cloud Native Development Cloud Security Cloud Strategy Cloud-native Security Core Banking Corporate Banking Customer Data Platform (CDP) Customer Experience Customer Experience Journey Customer Experience Strategy Customer Intelligence CX Strategy Cyber Resilience Cybersecurity
D
Data Analytics Data Center Modernization Data Integration Data Lake Data Security Data Transformation Denial Management DevSecOps Digital Banking Digital Commerce Digital Engineering Digital Experience Platform Digital Front Door Digital Health Platform Digital Insurance Digital Lab Digital Mosaic Digital Payments Digital Platform Digital Transformation Digital Wealth Management
E
Edge Computing Enterprise Integration Enterprise Security Experience Transformation
H
Healthcare Payor Healthcare Technology
I
Identity Access Management Intelligent Automation
L
Legacy Application Modernization Life Sciences Technology Loan Origination
M
Machine Learning Medical Devices Microservices Mobile Edge Cloud Monetizing 5G
N
Network API Network Assurance Network Performance Network Transformation No-code/ Low code Application Development
P
Process Mining and Process Excellence Product Engineering Product Sustenance Public Cloud
R
Ransomware Retail Banking
S
Software Application Development Software Development Software Engineering Software Modernization Software Product Development Software Product Modernization

What is Retail Banking?

Retail banking is referred to as consumer or personal banking. It offers personal financial services to consumers. Consumer services provided by retail banks include savings accounts, checking accounts, mortgages, personal loans, credit cards, deposits, online banking, and so on.

Unlike wholesale banking, which serves businesses or more prominent organizations, retail banking assists individual customers in saving, investing, and managing their daily financial requirements.

Retail banks provide customers credit for purchasing homes, automobiles, and other items of discretionary spending. Mortgages, vehicle loans, and credit cards are examples of them. The subsequent expenditure propels the economy and creates further cash.

What are the business benefits of Retail Banking?

  • Retail banking benefits banks by increasing total business and help improve the bank’s brand image.

  • Retail banks provide loans to customers for various purposes, including purchasing a home, a car, and discretionary expenditure. Mortgages, vehicle loans, and credit cards are examples of them.

  • Online retail banking has made money transfers and merchandising more convenient and accessible to retail clients.

Related Content

Contact us

    You can also email us directly at info@persistent.com.

    You can also email us directly at info@persistent.com