Retail Banking Certification
Retail banking is increasing in popularity throughout the world, as banks compete to take market share of private clients. It is different to traditional banking, in that it focuses on the customer and their needs, putting packages and plans in place, to ensure that the client’s financial needs are met.
Anyone already in the banking industry or interested in a career within the banking industry can gain insight and benefit from this course.
This course is perfect, if you wish your employees to gain a full insight into the world of retail banking and, upon completion, will end in an industry-recognised certification.
What’s Covered in the Course?
This course is designed to provide your employee with the required knowledge and skills, in order to be effective when it comes to retail banking. The team member can expect to learn the following:
- An introduction to retail banking: understand what this type of banking is and why it is important to banks, both now and in the future;
- The various financial systems and how they link to retail banking;
- The different types of banking and banking channels;
- The different retail banking products and how these differ from traditional banking products.
- What sets retail banking apart from banking that has been used for years;
- An understanding of retail mortgages and loans and why this is important in today's marketplace;
- Various banking services and how these relate to retail banking;
- The different banking payment systems that improve the customer experience and meet customers’ unique banking and financial needs;
- Various banking operations that will be beneficial to the team member in the retail banking sector;
- The importance of great customer service;
- Money laundering: what it is, how it is carried out and what to watch out for, in order to reduce the risk of this happening within your bank.
What are the Benefits of the Course?
- Up-to-date knowledge and skills regarding UK banking systems and practices;
- The ability to study online from anywhere, at any time, using any internet-linked device: PC, laptop, tablet or smartphone;
- A comprehensive course, broken down into manageable modules;
- Online support during the course, with lifetime access to all modules – they can be revisited as and when required.
- Upon successful completion of the course, you can instantly download and print an industry-recognised and uniquely verifiable certificate.
- Definition of retail banking
- Brief history of the banking industry in the UK
- Features and benefits of retail banking
- Importance and role of financial systems
- Goals, objectives and products
- Role of financial instruments
- Financial markets, capital gains and liquidity
- Definition of banking and banks
- Different types of banks
- Retail, commercial and investment banking
- Building societies, central banks
- Overview of careers and job opportunities in the banking sector
- Type of Job Roles within the Retail Banking Sector
- Customer service and operational roles
- Entry Level Requirements for Customer-Service Roles in Retail Banking
- Unsecured and secured loans, housing loans
- Mortgage Services; fixed and variable rates
- Capped, discounted, offset mortgages, mortgage fees
- Tracker, cashback, and LTV rates
- Current and savings accounts
- Savings bonds and structured saving products
- Simple cash, basic, cash ISA accounts
- Easy access, regular deposit and fixed bonds
- Introduction to credit and debit cards
- A brief history of credit cards in the UK
- What is a credit card and how does it work as a payment mechanism
- How to calculate APR
- Remittances and fund transfers
- Types of funds transfers
- Online transfers and Faster Payment Service (FPS)
- Standing orders and direct debits
- Understanding the role of banks as financial intermediaries
- Mutual fund investments
- How mutual funds work, charges, costs
- ETFs, Gilts and Bond investments offered by retail banks
- Understanding ‘bancassurance' and its emergence in the UK
- Components of Bancassurance
- Finance and repayment products
- Depositor's credit and overdraft insurance
Module 11 : Banking Services in the Retail Sector Part III Gold, Safekeeping of Valuables, SIPP/Pension Funds, Payment of Utility Bills and Taxes, etc.
- Gold as foreign exchange, gold ETFs
- Safety deposit locker facility
- Payment of council taxes and bills
- Bacs and CHAPS payments
Module 12 : Banking Practices in the Retail Sector Part IV: Customer Relationship Management and Marketing of Banking Services
- Objectives of customer relationship
- Link between technology and customer services
- Key requirements and objectives of an effective customer relationship strategy
- Features and relevance of relationship banking
- Definition and overview of Islamic banking
- History and evolution of Islamic banking principles
- Types of contracts under Islamic banking
- Advantages and relevance of Islamic banking
- What is money laundering and why is it a crime?
- Different ways in which money can be laundered
- Why banks are vulnerable to money laundering activities
- Basel Committee recommendations for bank accounts
Who can take the Retail Banking Certification course?There are no entry requirements to take the course.
What is the structure of the course?The course is broken down into 14 individual modules. Each module takes between 20 and 90 minutes on average to study. Although students are free to spend as much or as little time as they feel necessary on each module.
Where / when can the course be studied?The course can be studied study at any time and from any internet connected device
Is there a test at the end of the course?Once you have completed all 14 modules there is a multiple choice test. The questions will be on a range of topics found within the 14 modules. The test, like the course, is online and can be taken a time and location of your choosing.
What is the pass mark for the final test?The pass mark for the test is 70%.
What happens if a user fails the test?If the user doesn’t pass the test first time they will get further opportunities to take the test again after extra study. There are no limits to the number of times a test can be taken.
How long does it take to complete the Retail Banking Certification course?We estimate that the course will take about 12 hours to complete in total, plus an additional 30 minutes for the end of course test.