A banking system is a network of financial institutions, comprising commercial, national, and investment banks, along with credit unions. Commercial banks serve individual and business needs, national banks focus on central banking functions, and investment banks specialize in capital market activities. Credit unions are member-owned cooperatives. This diverse array of institutions collectively forms a comprehensive banking system that provides a wide range of financial services to individuals, businesses, and the economy.
Why do you need a new system because of the weaknesses in the existing system?
- Competition is increasing.
- A Cultural Revolution.
- Compliance with regulatory requirements.
- Business Model Evolution.
- Expectations are increasing.
- Retention of customers.
- Mobile Experiences That Are Outdated.
- Breach of security.
Who Need?
- Banks.
Objectives
- Safeguard Deposits.
- Provide Loans.
- Encourage Savings.
- Capital Formation.
- Currency Issue.
- Enhances Living Standards.
- Generates Employment.
Key Features
- Deals with money.
- Provide loans.
- Identity.
- Withdrawal and payment facilities.
- Internet services.
- Business.
- Increasing functionality.
- Branches at different locations.
- Commercialized.
Benefits
- Accounts that fit your needs.
- No fees to deposit your money.
- Easily manage your money.
- Get unexpected income quicker.
- Access bank statements.
- Protect your money.
Devices of use
- Computers.
- Smartphones.
- Tablets.
Achievements
- Financial Inclusion.
- Economic Stability.
- Capital Formation.
- Payment Facilitation.
- Credit Provision.
- Risk Management.
- Technology Integration.
- Global Connectivity.
- Wealth Preservation.
- Regulatory Compliance.
- Employment Generation.
