Banking Solutions for All Banking Needs
Posted: Sep 15th, 2008 | Comments: 0 | Views: 38 |
Syndicate this Article Copy to clipboard
Banking Solutions for All Banking Needs
Author: Lori S.m. HollenbackHistory of banks
The first modern bank was founded in Italy in 1406 and was called Bank of St. George. Since 1406 banks have sprouted all over the world and have created different specialties for financing. For example, retail banking mostly refers to a regular bank that deals with deposits and withdrawals between the consumer and the bank. Commercial banking refers to banks that mostly work with deposits and small business lending from corporations and large businesses. Investment banks work with stocks, bonds, mergers and acquisitions for corporations. As our society and business world becomes more complex, financial institutions are following suite and are specializing to fit our needs.
Retail banks specializing to fit our needs
Not only have banks specialized to fit our business needs they’ve also adjusted to meet our personal needs. As technology advanced and internet, World Wide Web and email was created we started doing more work more efficiently. We’ve become dependent on computers to speed up processes. For example, before computer technology, businesses would have to travel to meetings across town or even across state. Now, with internet and computers, businesses can save time and money and conduct a web meeting with anyone from anywhere at any time. With this business technology being used everyday why would consumers want to personally travel to their local retail banking businesses to take care of their banking needs? The days of waiting in line at the bank with two forms of ID on pay day are over. Now companies can direct deposit your paychecks straight into your account. And, forget about writing checks to pay bills you can now go online and pay your bills with the click of a mouse. And, if you need to move money from one account to another just do it online.
Commercial Banks
Commercial banks have been created to specialize in withdrawals, deposits and loans for corporations or large companies. Small business lending is part of the services that commercial banks provide. And, with the technology advancements, commercial banking has stepped up and made it easier to apply for small business loans with a quicker approval process. A lot of banks have done this by implementing business rule engines and automated decisioning software which speeds up the approval process. These types of investments allow consistent and accurate evaluations of applications and gives results in a timely manner. This is beneficial for the applicant and the financial institute. The quicker approval process allows the customer to build their location faster or fix that broken sign faster and it allows the financial institutions to do more loan volume.
Investment Banks
Investment banks work with stocks, bonds, acquisitions and mergers of corporations. The biggest change with these types of banks is the capability of being able to go online and trade your stocks and bonds in real time. The advance in this technology has given some talented people a way to earn a living by sitting in front of their computers and tracking their investments.
Banks have certainly adapted to the personal and business lifestyles of today and have saved consumers, business owners and investors a lot of time and sometimes even some money for providing so many online banking solutions.
About the author: Laurie Hollenback is a freelance writer for Innuity. For more information about retail banking or small business lending , visit ZOOT.
Article Source: ArticlesBase.com - Banking Solutions for All Banking Needs
History of banksThe first modern bank was founded in Italy in 1406 and was called Bank of St. George. Since 1406 banks have sprouted all over the world and have created different specialties for financing. For example, retail banking mostly refers to a regular bank that deals with deposits and withdrawals between the consumer and the bank. Commercial banking refers to banks that mostly work with deposits and small business lending from corporations and large businesses. Investment banks work with stocks, bonds, mergers and acquisitions for corporations. As our society and business world becomes more complex, financial institutions are following suite and are specializing to fit our needs.
Retail banks specializing to fit our needs
Not only have banks specialized to fit our business needs they’ve also adjusted to meet our personal needs. As technology advanced and internet, World Wide Web and email was created we started doing more work more efficiently. We’ve become dependent on computers to speed up processes. For example, before computer technology, businesses would have to travel to meetings across town or even across state. Now, with internet and computers, businesses can save time and money and conduct a web meeting with anyone from anywhere at any time. With this business technology being used everyday why would consumers want to personally travel to their local retail banking businesses to take care of their banking needs? The days of waiting in line at the bank with two forms of ID on pay day are over. Now companies can direct deposit your paychecks straight into your account. And, forget about writing checks to pay bills you can now go online and pay your bills with the click of a mouse. And, if you need to move money from one account to another just do it online.
Commercial Banks
Commercial banks have been created to specialize in withdrawals, deposits and loans for corporations or large companies. Small business lending is part of the services that commercial banks provide. And, with the technology advancements, commercial banking has stepped up and made it easier to apply for small business loans with a quicker approval process. A lot of banks have done this by implementing business rule engines and automated decisioning software which speeds up the approval process. These types of investments allow consistent and accurate evaluations of applications and gives results in a timely manner. This is beneficial for the applicant and the financial institute. The quicker approval process allows the customer to build their location faster or fix that broken sign faster and it allows the financial institutions to do more loan volume.
Investment Banks
Investment banks work with stocks, bonds, acquisitions and mergers of corporations. The biggest change with these types of banks is the capability of being able to go online and trade your stocks and bonds in real time. The advance in this technology has given some talented people a way to earn a living by sitting in front of their computers and tracking their investments.
Banks have certainly adapted to the personal and business lifestyles of today and have saved consumers, business owners and investors a lot of time and sometimes even some money for providing so many online banking solutions.
No comments:
Post a Comment