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INTRODUCTION OF RETAIL BANKING
What is retail banking?
Retail banking refers to the provision of banking services directly to individual consumers and small businesses, as opposed to corporate or wholesale banking. It includes deposits, loans, payments, and other financial services for the general public.
What is the primary target segment of retail banking customers?
Individual consumers and small businesses with personal financial needs.
How does retail banking differ from wholesale banking?
Retail banking serves individual customers and small businesses with standardized, high-volume, low-value transactions, whereas wholesale banking deals with large corporates, institutions, and governments with high-value, customized transactions.
What does the term 'mass market banking' refer to in retail banking?
Banking services offered to large numbers of individual customers simultaneously.
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