Banking business is developing in harsh conditions. To succeed, institutions use different methods. The winners are those who try to diversify their activities by developing unique products. Read more about what types of banking services exist today, read on.
The concepts
In the economic literature, the term “banking product” began to be used after the transition of the economy to a market system. It means an operation performed by a financial institution aimed at improving the operating conditions. There is another interpretation: banking service is the result of an activity that acts as a product and enters the market for sale.
Classification
By individuality services are:
- single (reassigned for a specific consumer);
- mass (differ only in the type of asset).
By limited banking products are:
- limited, that is, with a certain quota for the issue (bonds, credit agreements, etc.) intended for a specific buyer;
- not limited in quantity.
Types of banking services in the form of:
- property (money, gold bullion, Central Bank, etc.);
- rights (agreement to open an account, loan agreement, etc.).
By content, banking products are divided into:
- first appeared on the financial market;
- new in the domestic market.
By type, the following bank services are distinguished:
- credit;
- issue of plastic cards;
- CSC;
- loans
- deposits
- leasing
- settlement account service;
- operations with foreign currency;
- factoring;
- ATM;
- issue and maintenance of securities;
- Home banking
- forfaiting operations;
- "Swap" transactions, etc.
Basic banking services
RKO is one of the most popular products. Previously, there was no commission for cash payments for goods and services through a bank cash desk. As a result, large lines of customers were formed in the departments, which employees simply did not have time to service. Therefore, banks began to charge a fee for transfers of funds, the amount of which is several times higher than the cost of a similar service conducted through a self-service terminal. All currency transactions are carried out only through the cashier. But RKO is not the main source of funds to the bank.
Deposit - accumulation of temporarily free money. The bank uses the borrowed funds in financial transactions from which it makes a profit. A certain percentage of this income will be transferred to the client as a reward. Deposits are the main source of fundraising. Therefore, the Central Bank forces institutions to create reserves for their obligations and transfer a certain percentage of them to the DIA. In times of crisis, the attractiveness of deposits increases. This is the most floppy type of investment, which, if it does not generate income, then at least compensates for inflation.
Credit - the provision of a certain amount on the terms of urgency, payment and repayment. In such transactions, the bank may be a borrower and lender. An institution may independently provide money to individuals and legal entities. Such transactions are called active. But if the bank needs funds, then it can receive them from another financial institution. Such transactions will be called passive. Terms of service, rights and obligations of the parties are prescribed in the contract. Most often, a loan is financed by funds from deposits. Therefore, the fee for servicing the contract covers the costs of deposits and takes into account the profit from the transaction.
Loans, deposits, cash settlement services - the most popular types of banking services.
Investment operations are investments in the industry National economy. An asset can be not only money, but also equipment.
A bank cell is a safe that is leased to customers. It can store money, documents and other valuables. This service guarantees the customer complete confidentiality. The Bank does not check property accepted for storage. A separate cell is opened for each client. By completing the contract, the person indicates the trustees who will have access to the safe, and receives two duplicate keys. A bank cell is expensive. Therefore, it is used only at the conclusion major deals for example, to store funds for the purchase of an apartment, a car in cash. It is impossible to withdraw a large amount from the account without a preliminary order. And if the client’s assets are frozen, for example, by court order, this will not apply to the cell. But interest is not accrued on the stored funds in the safe; it is impossible to manage them remotely. To access the cell, you must provide a passport, a key, and in some banks also a service agreement.
Cards
To carry out single operations, opening a bank account is not required. But if the client wants to use the services of a credit institution more often, he will need to draw up bank cards. This is a plastic payment instrument that is attached to accounts and is used for quick access to funds. Carry out currency transactions, pay for services in retail outlets and via the Internet, recharge telephones - all these operations are much more convenient to carry out with a card. They are divided into debit and credit, individual and corporate, ordinary and funded. There is also a separate division for payment systems. The most popular in the world are Visa, Mastercard, American Express. Each payment system has its own classification, which determines the scope of plastic. So, a Visa Electron / Maestro card can be used only within the country of the issuing bank, Standart / Classic are accepted in all countries of the world, and Platinum, Gold bank cards allow not only to pay for goods, but also to accumulate bonuses, receive loans and participate in loyalty programs . Services for receiving plastic for maintenance are called acquiring. A commission of 2% of each transaction is paid by the seller. There is no commission for using all types of cards, including credit cards, in cashless payments. The currency of the account does not matter. With a ruble card of the corresponding class, you can pay for goods in any country in the world. Currency exchange takes place automatically, at the time of writing off funds.
Home banking
Most of the operations described above can be ordered through online banking. The Client-Bank service is provided by almost all institutions. Another question is that the capabilities of the program are different. Some institutions offer their customers access to only funds transfer services. Others allow you to apply for a card issue, opening a deposit or a loan. Currency exchange in electronic form is limited, but you can find out the current ruble exchange rate directly through the Internet. Only large financial institutions provide a full range of services to their customers through online banking. The fact is that the development of such a system requires investment and time. And even if the bank finds resources, it is not a fact that these costs will have time to pay off.
Mediation operations
Modern banks spend most of their payments in automatic mode. This greatly simplifies the life of commercial and individuals, and also indicates an increase in the effectiveness of services. At the same time, products appear on the market that perform the functions of the old, but look different.
Leasing is a long-term lease of property while retaining ownership of the property with the lessor. Instead of giving out a loan for the purchase of machinery or equipment, the bank fully finances the transaction, leases the property and retains ownership. The client receives the desired property, and the institution - the rent without a loan interest. At the same time, the client himself chooses the seller, product and company that will finance the transaction. If the terms of the contract provide for a full payback of the equipment, then this type of transaction is called financial. If a lease is drawn up for a short period, then we are talking about operational leasing.
Factoring - redemption of supplier debts. The basis of such transactions is also lending, but in a different form. Factoring operation must meet at least two of the following signs:
- availability of prepayment;
- conducting accounting of sales with the supplier;
- receipt of debt from purchases;
- credit risk transaction insurance.
The essence of the transaction is that the factoring company buys claims from customers for 70-90% of their value, pays them within 2-3 days. The balance is received after repayment of the debt by the counterparty. The customer at his discretion decides whether to notify customers of the sale of debt factoring company.
Forfeiting is the purchase of debt securities issued as debt. Most often, such a service is used in foreign trade activities. The exporter received a bill of exchange for the shipped goods from the importer. He urgently needed cash, so he sold debt paper to forfreight. The advantage of the transaction is that if the importer does not fulfill his obligations, the agent will not provide a regressive request to the exporter. But risk pay is a big margin.
All these financial services of the bank are a type of loan in which three parties participate.
Trust
This is another modern intermediary service, the essence of which is to transfer funds to customers to the bank for their further investment on behalf of and in the interests of the customer in various markets. The institution receives a certain percentage of profit from transactions. In the interests of individuals, the bank most often performs operations with securities, maintains accounts, prepares tax returns, manages real estate. The following services are additionally provided for legal entities: storage, asset insurance; cash collection; loan management; issue and placement of securities; reorganization of a legal entity; payment of taxes.
Factors
The development of banking services in Russia is influenced by:
- legal framework;
- public policy;
- social status of citizens;
- location of the organization;
- a set of services provided by the bank;
- customer service culture;
- qualification level of staff.
Efficiency
Bank operations and services have a set of properties that determine their ability to meet customer needs. Customers evaluate quality by speed, office hours, consulting services, errors. For the bank, the main criteria are: the degree of automation of processes, the cost of correcting errors, employee motivation, labor productivity and other indicators.
According to American researchers, the most important parameter in determining the quality of services is staff qualification. The employee must not only have certain skills, but also know business ethics the basics of psychology, to be able to negotiate. In Russia, to assess the quality of services, the following methods are used:
- comparison of product parameters with competitors' analogues;
- the presence of profit or loss for each type of transaction;
- financial condition of organizations as a whole;
- customer awareness assessment;
- domestic and international bank rating.
You can improve the quality of products by expanding their assortment.Payments by bank transfer to other countries of the world, leasing, factoring, full-fledged remote servicing, and the issue of securities are not provided by all credit institutions. The offer of services should be consistent with the market trends of the region. The process of introducing new products increases the risks of the organization. Without proper asset management, constant monitoring of profitability, and counteraction in money laundering, the bank may not be able to cope.
You can increase the effectiveness of products by improving their quality. For example, expand the network of partners in the framework of lending services to individuals. Customers often purchase durable goods in installments. A loan is provided at the time of need, without additional documents.
Other measures:
- simplification of the procedure for obtaining a loan;
- improvement of the payment system;
- labor organization in the bank;
- opening branches in small towns;
- implementation of remote banking services.
Western experience
Banks have always used technological advances to automate manual labor. But now to win you need to completely restructure the activity. At the same time, process automation should be the goal, not the means to achieve it. In such circumstances, the role of staff, the recruitment of specialists, is changing.
In Western banks, service rooms are not crowded. Customers have learned to manage services through ATMs, mobile phones and a computer. Such modern banking services already exist in Russia: SMS, Internet banking, terminals. But domestic staff costs at domestic institutions are still high. Western banks are investing in the improvement of high-speed data transfer protocols, the purchase of intelligent programs that track the "life" history of the client.
The banks have accumulated a lot of customer information, but it is not used properly. Data is scattered across several departments. Information about customers who applied for a car loan came to one database, who received a loan to another, who made deposits to a third, etc. Due to the lack of communication, it is difficult to get a general picture. Only with the help of massive advertising campaigns is it possible to identify potential customers for a particular service. Intelligent technologies provide the user with access to all databases. This allows employees to better serve customers, offer them several services at the same time, increasing the return on each visit.
Types of banking services built on the latest technologies:
- Internet (SMS) banking;
- smart-card;
- processing image checks;
- entering messages by phone using a voice recognition system (used in chats with representatives of banks).
Internet banking is a continuation of telephone customer service. Only the form of interaction has changed. Such a service is more modern but expensive. A high-quality back-office system should take into account various modes (tariff plans) of customer service and monitor risks. The Internet allows banks to upgrade their services, introduce new products, and quickly resolve issues. But the imperfection of the legislative base, the prevailing stereotypes regarding the confidentiality of the transmitted information and technical limitations do not allow to get the maximum benefit from the new opportunities. Although 29 million Russians use the Internet, and the computer has already become a familiar element at home, not all stakeholders have enough experience and skills to work with programs. And the speed of connection with the provider in small cities leaves much to be desired.
Conclusion
Today, banks provide their customers with a large number of different services - from classic to intermediary operations with an individual approach.But in order to succeed in the market, you need to not only offer unique products, but also quickly process information. For this, automated and intelligent systems are used. The former allow you to carry out operations without leaving your home, while the latter collects customer information from all possible databases, processes them and offers the best banking products to choose from.
