Retail Banking

Retail banking involves banking institutions transacting business directly with individual and small business consumers as opposed to other banks and corporations.

Retail banks typically deal with loans, mortgages, savings and checking accounts, deposit certificates, safe deposit boxes and credit cards. Some retail banks also provide brokerage accounts, fiscal maangement and retirement plans.

Retail banks delivery products and services via branches, internet, phone, mobile, ATM and other channels.

Retail Banking is one of the most dynamic and evolving industries worldwide as reflected in the trends:

• Banks will shift to becoming banking platforms capable of integrating services efficiently to focus upon the customer's needs and not product channels.
• Improving the customer experience.
• Collecting and using customer information to provide data analytics as a competitive advantage.
• Evolution of digital technology channels for service delivery.
• Expansion of digital payments methods.
• Mobile Apps as the primary mobile delivery system.
• Social media will become the primary medium to engage and market to customers.
• Reduced reliance upon cash via smartphone wallets and virtual currencies offer improved transaction processing and security.

Banks in developing and transitioning countries such as Eastern Europe and China charge more for products and services than do banks in mature markets. These countries are adopting online and call center banking to avoid the cost of infrastructure buildup.

The Retail Banking industry model set consists of Enterprise, Business Area, and Data Warehouse logical data models designed for the US and international retail banking industry.

The Retail Banking models provide a comprehensive data and reporting architecture to address the needs of retail banks across their entire business and may be seamlessly integrated with other ADRM Financial Services industry offerings.

ADRM Software provides offerings for both US and non-US Retail Banks.