Retail banking program is a banking service offered to the general public or individuals to manage their funds in their savings or fixed accounts and carry out various other day-to-day banking transactions such as depositing money and opening bank accounts. Corporate banking is a type of commercial banking that focuses on small and large businesses and corporations, offering services such as trade finance, derivatives and other financial products.
Personal loans, auto loans, home loans and other customer-facing retail banking products are available. Corporate Banking is designed based on business needs and can be customized or adapted to meet specific needs, e.g. B. Loans. In terms of customer base, retail banking often attracts a large number of customers, but corporate banking does not attract a large number of customers, it attracts affluent customers. Processing fees in retail banking are low while processing fees in corporate banking are significant. Corporate banking is more profitable than retail banking in terms of profitability.
Retail financial institutions and corporate financial institutions are closely related because of who they serve. Businesses rely on consumers to successfully purchase products and services, while customers rely on businesses to respond to requests and/or solve problems that humans cannot easily solve. Businesses and customers depend on each other to thrive, meaning that retail banks and commercial banks theoretically depend on each other to function properly.