Evolution of Corporate, Retail and Private Banking
Published on 04 December 14
Rahul0
Today we can broadly categories banking in three segments which is Corporate, Retail and Private banking. Read an informative article about banking technology solution!!
Banking today is much more complicated then what it used to be earlier, earlier there used to be just clients and banks in the banking system but with the evolution of both banking and business models the necessity of more complex and more segmented form of banking arises which caters the requirement of different individual and corporate as per their needs and requirements.
But before getting into the discussion of how corporate banking is different from Retail banking or from private banking software we need to have knowledge of what is the difference between these three forms of banking:
Corporate Banking: The aspect of banking which deals in corporate customers is known as Corporate Banking.
Private Banking: Individuals with high income and investment size are given the option of Private Banking where banks deal with individual on personal basis.
Retail Banking: Retail Banking is the most common form of banking with which majority of individual come across in this bank branches are located in abundance. Banks that focus purely on retail clientele are relatively few.
So we can clearly see that there is no competition as such between Private, Corporate and Retail banking and rather they are different aspects of banking which serves different requirements of individual or of a corporate as per their needs.
To compliment these aspects of banking today we have automated software too which handles the complexity of these segments of banking and provide a hassle free solutions which not only ease the procedure of banks but is also client friendly, there are n number of software in the market which all promises to be the best in business. Below is a list of some of the major private and retail banking software’s:
Some of the major Private banking software is:
- Avaloq
- ERI Bancaire Olympic
- Temenos T24 PB
- Sopra Banking Software
- Sungard Apsys
- Misys
- Datapro
- SAB Samic
- Oracle FSS
- Finnova
Similarly major Retail banking software in the market are:
1. FIS (Fidelity)
2. Fiserv
3. Temenos
4. Sopra Banking Software
5. Oracle FSS
6. TCS FS
7. Infosys
8. Misys Banking
9. Harland Financial Solutions
10. Silverlake Axis
But before buying any software a company or an individual need to analyse the requirements of their business with the features of the software (since every software provider offers different services) and select the best fit which fulfil the needs and provide most accurate solutions as per the business one is operating.
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