Consumer banking
Consumer banking, also known as retail banking, refers to the services that banks provide to individual customers rather than businesses. This includes basic financial products like checking and savings accounts, loans, mortgages, and credit cards. Consumer banks aim to help people manage their money, save for the future, and obtain credit. They often have physical branches and online platforms for easy access to services. Overall, consumer banking plays a vital role in individuals' daily financial lives, offering the tools necessary for personal finance management and economic stability.
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Consumer banking, also known as retail banking, refers to financial services provided to individual customers rather than businesses. These services typically include checking and savings accounts, loans, mortgages, and credit cards. Banks facilitate everyday financial transactions, help manage personal finances, and offer tools for saving and investment. Consumer banking aims to meet the financial needs of individuals, providing secure places to store money, access to credit for purchases or emergencies, and advice on wealth management. This sector plays a crucial role in the economy by promoting consumer spending and savings.