What is Retail Banking?

(upbeat music) – When people think of financial services, the first thing that
often comes to mind is what the industry calls retail banking, a one stop shop for everyday services. And of course we all know
what retail banks do: you can open an account, get a debit card, or apply for a mortgage. It’s where friendly,
client-focused staff help us save for our retirement,
educations and with investors. While it’s true, we all
understand what retail banks do; behind the scenes they’re
developing cutting edge technology that powers the services we all use daily. Technology allows banks to
engage with individual customers however the customer prefers across multiple channels and devices. So, while your grandma may have
preferred to bank by phone, you can easily deposit a
check using a mobile app. (upbeat music) And so what we see is retail
banks making large investments in technology that drive advancements in areas like Mobile Apps, A.I. and Chat-Bots technology
creating better experiences and making life easier for clients. Online deposit platforms and interactive tools that analyze savings and spending habits, enable remote transactions,
and even help fight fraud. Or, digital marketing
and customer profiling so they can send meaningful perfectly crafted messages
customized for each client. (eclectic music)

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