Banking Services Careers
The exchange of money in the United States is generally managed with the services of banks and other financial institutions, whose reputations depend greatly on customer satisfaction and trust. Many of the products we use daily, like checking and savings accounts, debit cards, credit cards, and loans, are the backbone of the banking industry. This course will provide an overview of how the banking system works, what the Federal Reserve is, and the technical and social skills needed to work in banking and related services. Students will explore career paths and the required training or higher education necessary andwill gain an understanding of the basic functions of customer transactions (i.e., setting up an account, processing a loan, or establishing a business), cash drawer activity, check collection processes, and other customer service–related transactions. This course will also discuss how technology has changed banking in the 21st century. The banking industry is responsible for many of the products that we use on a daily basis, from checking and savings accounts to debit cards, credit cards, and loans.
This course will focus on the specific skills related to banking and related services. In addition, you will explore career paths and the required training or higher education preparation necessary to obtain a career in banking and related services. Also, you will gain an understanding of the basic functions of customer transactions, cash drawer activity, check collection processes, and other customer service–related transactions. This course will also discuss how technology has changed the banking and related services industry. Finally, this course will provide an overview of the technical and people skills necessary to aid consumers with setting up an account, processing a loan, or establishing a business.
- UNIT 1: Description of the Banking Industry: Unit 1 familiarizes students with an overview of the entire banking industry, starting with the history of money in the United States. The discussion begins with The Federal Reserve System. The Federal Reserve System is the central bank of the United States and is responsible for a variety of tasks and oversight for the banking industry. In addition, Unit 1 focusses on the different types of financial institutions and will compare and contrast the competition in the banking industry. State- and federally chartered banks and savings banks and credit unions will be discussed.
- UNIT 2: Bank Performance: Unit 2 introduces students to bank performance and the financial information that is disseminated to the stakeholders of the organization. In addition, the laws and regulations that oversee the required release of financial information are also discussed. Bank performance can relate to the profitability of the bank and also the customer reviews of the banks. Students will learn the areas that banks are rated and how they are compared to their competitors. Of course, both performance ratings will impact the bottom line, as customer service is directly linked to banks’ profitability.
- UNIT 3: Bank Products: Unit 3 introduces different products that are offered by banks. These products include deposit account products and also different lending options. Because banks offer almost the same products, it is important to understand what the products are and how each can be used to enhance one’s personal finances. In addition, this unit will discuss e-banking and how the Internet and technology have transformed the banking industry.
- UNIT 4: Building Customer Relationships: Unit 4 demonstrates how banks develop customer relationships. Gaining new customers and retaining their current customers are both essential to the success of banks. Through personal financial planning, bankers are able to help customers reach their financial goals and gain loyal customers along the way. In addition, by being involved in the communities they serve, banks create an image of caring about the people and community that they serve. Both are important areas for building relationships and gaining long-term customers.
- UNIT 5: Banking and Consumers: Unit 5 introduces the different roles of bank employees and explains the basic products and services that banks offer. Employees provide an important link to the customers they serve and must have a working knowledge of bank procedures, an understanding of products and services, and the skills to provide this information to the consumers. Understanding the products and services that are offered is essential for all employees. The employees have an important role in educating the customers about what services and products are available and which ones would benefit them the most in their financial goals and daily lives.