This eCourse consists of two modules. Module 1 provides an overview of the consumer/retail banking business, from its roots in the commercial banks of old that offered personal banking services to business owners to the growth of a mass-market industry and subsequent consumer banking product and channel development in the context of technologies such as the Internet and the smartphone.
Module 2 describes how the consumer banking portfolio must be viewed with regard to all of a customer’s financial needs, and analyzes the revenue and cost dynamics within both individual products and across a product portfolio/consumer bank P&L.
On completion of this course, you will be able to:
- Outline the development of the consumer/retail banking industry from its rapid expansion in the 20th century to the emergence of the various alternative channels to branch banking today
- Describe how, as a result of the global financial crisis, a raft of regulations and political interventions are altering the market structure
- Explain why much of the innovation in consumer financial services is coming from nonbanks, even though mainstream banks have done much to harness technology in pursuit of enhanced and more efficient customer service
- describe the basic characteristics of typical consumer/retail banking products
Module 1: Consumer Banking - An Introduction
Topic 1: Development of Consumer Banking
Topic 2: Impact of Regulation
Topic 3: Innovation in Consumer Banking
Module 2: Consumer Banking – Products
Topic 1: Checking/Current & Savings Accounts
Topic 2: Credit
Topic 3: Payments & Other Services
Topic 4: Managing the Product Portfolio