RETAIL BANKING FREE NOTES FOR CAIIB 2022 EXAMS | RETAIL DELIVERY CHANNELS
In today’s topic, we will explain different types of Delivery Channels that are used in Retail Banking of CAIIB exams 2022.
Certified Associate of the Indian Institute of Bankers (CAIIB) is an abbreviation for Certified Associate of the Indian Institute of Bankers. These examinations are held twice a year by the IIBF (Indian Institute of Banking and Finance). The IIBF has brought together more than 700 banks and financial institutions since its founding in 1928. It’s one of the IIBF’s specific assessments aimed at getting the best out of current members of the Indian Banking and Finance Foundation. CAIIB is well-known in the financial industry, and it is expected to deliver superior dynamics knowledge and skills. RBI, SIDBI, NABARD, and local banks are the company’s main competitors.
CAIIB EXAM 2022 consists of 2 compulsory subjects, i.e. ABM and BFM, and one elective subject, which is chosen from six options rural banking, retail banking, human resource management, risk management, central banking, and information technology.
RETAIL MANAGEMENT being one of the subjects, is a vital part of the CAIIB EXAM. So, we would like to discuss a bit about the marketing of retail products along with some sub-topics, which include branches, extension counters, ATMs, POS, Internet banking, M- banking, and the study material we provide to help you go through these topics.
Marketing of retail products
Traditional retail marketing refers to how retailers promote the items and services of their physical stores. Traditionally, it has been the responsibility of retailers to market and sell the goods they have purchased (wholesale) from designers.
As a result, as a retailer, your full attention is on enticing customers to come to your store and buy to boost sales and keep the designers you work with happy.
Read Also: CAIIB RETAIL BANKING EXAM 2022
What are the Benefits of Retail Marketing?
Given how competitive some product categories are in retail, marketing is even more vital. You’re leaving it up to your customers to remember you once they get interested in a product you sell if you don’t have a sound marketing strategy. Because retail products are frequently purchased again, unlike subscriptions or one-time purchases, retailers must rely on marketing to retain customers after each transaction. Marketing is vital in increasing a customer’s lifetime value in retail more than any other business.
Branch
Most financial organizations’ first contact with their customers is their branches. Branches can take the lead in identifying potential clients, analyzing their needs, and matching products/services to their needs in the right conditions. This is the essence of branch-based marketing.
Extension counters
An extension counter is similar to a bank branch; however, it offers fewer services. Extension counters are located in critical locations such as colleges or office campuses to give financial assistance to students and employees. Essential financial services such as deposits and withdrawals will be available; however, if you want to use all available banking services, you may need to visit a branch rather than the extension counter.
ATMs
An automated teller machine (ATM) is a computerized banking terminal that allows consumers to conduct simple transactions without the assistance of a teller or branch personnel. Most ATMs allow anyone with a credit or debit card to withdraw cash.
ATMs are convenient because they allow customers to do self-service operations such as deposits, cash withdrawals, bill payments, and account transfers. Using an ATM operated directly by the bank that maintains the account can help you avoid some or all of these costs.
Read Also: IIBF CAIIB RETAIL BANKING QUESTION PDF
ATM Types
ATMs can be divided into two groups. Customers can only withdraw money and have their account balances updated in basic units. Deposits are accepted, line-of-credit payments and transfers are facilitated, and account information is accessed on the more complicated devices. A user must often be an account holder at the bank that operates the machine to access the complex machines’ advanced capabilities. Analysts predict that ATMs will gain in popularity and that the number of ATM withdrawals will increase. Instead of or in addition to traditional bank tellers, future ATMs are anticipated to be full-service terminals.
POS
The point of sale (POS), an essential component of a point of purchase, is where a customer makes a payment for goods or services and where sales taxes may be due. It can be a physical store with POS terminals and systems processing card payments or a virtual sales point like a computer or mobile electronic device.
Internet Banking
Internet banking, also known as online banking, e-banking, or Net Banking, is a service provided by banks and financial institutions that allows users to access their accounts using the internet. Customers do not need to go to their bank’s branch office for every little thing. Internet banking isn’t available to every account holder. If you want to use internet banking, you must sign up for it at the time of account opening or later. To log into your internet banking account, you must use the customer ID and password you established.
Now that we have discussed all these topics, we are left with M-Banking.
M- Banking
A bank or other financial institution’s mobile banking service allows consumers to execute financial transactions using a mobile device such as a smartphone or tablet. Unlike linked internet banking, it uses financial institution-provided software, sometimes referred to as an app. Mobile banking is often accessible 24 hours a day, seven days a week. Some financial organizations put limitations on which accounts can be accessed through mobile banking, as well as a transaction limit. The availability of an internet or data connection on the mobile device is required for mobile banking.
Now that we are done with all the subjects, we would like to tell you about the notes we provide.
Read Also: IIBF DIGITAL BANKING IN RETAIL BANKING 2022
CAIIB STUDY MATERIAL 2022
IIBF LEARNING CENTER will provide you with RETAIL BANKING notes to help you study and understand RETAIL BANKING for CAIIB 2022. The IIBF provides CAIIB material and tools to assist applicants in passing the tests. To gain conceptual knowledge, use these CAIIB study aids and brief notes. These notes will help you cover the entire CAIIB EXAM 2022 syllabus in a short time while clarifying the topics. The notes you receive are written using the CAIIB SYLLABUS 2022 as a guide.
We provide several study options, including:
- Latest Videos featuring the most up-to-date knowledge and changes in the CAIIB exam.
- According to CAIIB EXAM 2022, the syllabus for ABM, BFM, and RETAIL BANKING, as well as information technology and risk management, has been modified.
- Videos, question banks, and epdfs are available at your fingertips anytime you need them.
- CASE STUDIES: For all of CAIIB’s EXAM to date, you may discover 110+ new and updated case study videos.
- With over 900 hours of experience and wisdom, we have the best tutors.
- We’ve compiled CAIIB 2022 STUDY MATERIAL from past year’s CAIIB EXAMS and various other sources.
- All three courses, ABM, BFM, and RETAIL BANKING, are covered with chapter-by-chapter questions, including prior year and memory recall questions.
- For your convenience, CAIIB CLASSES 2022 provides notes in the form of words.
- You can revise without wasting a lot of time using our Android app’s ePDFs because they are designed in a very concise manner to assist you. (ABM, BFM, and Digital Banking are the only options.)
- The videos are accessible in two languages: Hindi and English.
- Packs should be picked with care.
- You can take CAIIB practice tests up to five times, compare your results, and use them to finish exams fast so that you can perform better in the exam.
Read Also: IIBF RETAIL BANKING RECOLLECTED QUESTIONS 2022
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