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CHAPTER 2 INTERNATIONAL COMMERCIAL BANKING (TYPES OF INTERNATIONAL…

- - - - Definition:
        
        Banking, investment, acquisition & other financial services provided by banks to private individuals
        
        Rendered on more personal basis
        
        Traditionally: private banks were linked to families for several generations
      - Example:
        
        First banks in Venice that focused on managing personal finance for wealthy families for a specific period of time
    - - Definition:
        
        Used for delivering financial services without relying on bank branches
        
        Complement an existing bank branch network
      - Advantage of Mobile Phone:
        
        Very mobile
        
        Open 24 hours a day
        
        Small fees for the agents
        
        Almost no paperwork
        
        Very small bank overhead
      - Example mediums of transaction:
        
        Internet
        
        ATM
        
        POS Devices
        
        EFTPOS Devices
        
        Mobile phones
    - - Short Notes:
        
        Termed as Personal Banking Services
        
        A bank performs transactions directly with end customers
      - Services Offered
        
        Savings Account
        
        Mortgages
        
        Personal Loans
        
        Debit & Credit Card
        
        Current Account
        
        ATM Cards
        
        Traveller checks
        
        Home Equity Loan
        
        Certificates of Deposit/term deposits