This is a overview of the business of banking, including retail, business and investment banking. We have also included introductions to other financial services like credit cards, credit rating agencies, mutual funds and the business processes used to process loan transactions, credit card payments, and a range of other banking services and products. Useful for anyone who would like an overview of the banking industry. Downloads will be allowed for 30 days. After that you can contact me if you would like the file.

1. Financial Services Industry Training
The Business of Banking
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2. Module Objectives
Upon completion of this module, you will be able to describe:
1. Retail Banking Products and Services
2. Business Banking Products and Services
3. Investment Banking Products and Services
4. Wealth Management Products and Services
5. Mutual Fund companies
6. Insurance companies
7. Credit Services
8. Tax service providers
9. Credit rating agencies
10. Credit Bureaus
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3. Who has the Money
Source: Board of Governors of the Federal Reserve System.
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4. Retail and Business Banking Overview
Retail and Business Banking
Retail Banking Business Banking
(AKA Corporate or Commercial Banking)
Provides consumers with a wide range of Provides banking services, cash management and
deposit, savings, and loan products, loans to small businesses and corporations.
Retail or “Mass Market” Small Business
Affluent or “Mid Market Mid-Size Corporate
Private or “High Net Worth” Corporate
Wealth Management
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5. Retail Banking
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6. Leading Banks – US and Global
US Europe, Asia
• Bank of America • Bank of China China
• BNP Paribas SA France
• JPMorgan Chase • Crédit Agricole SA France
• Citibank • Société Générale France
• Wells Fargo • Deutsche Bank AG Germany
• UniCredit SpA Italy
• US Bancorp • Sumitomo Mitsui Bank Japan
• Suntrust Banks • The Bank of Tokyo-Mitsubishi Japan
• ING Bank
• HSBC Netherlands
• KeyBank • Banco Santander SA Spain
• State Street Bank • Credit Suisse AG
Switzerland
• UBS AG
Switzerland
• Barclays Bank UK
• HSBC Bank UK
• Lloyds TSB Bank UK
• The Royal Bank of Scotland UK
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7. TOP TEN U.S. FINANCIAL SERVICES FIRMS
(Reported in $ millions)
Rank Company Revenues Profits Industry
1 Fannie Mae 153,825 -$14,014Diversified financial
2 General Electric 151,628 11,644 Diversified financial
3 Berkshire Hathaway 136,185 12,967 Insurance
4 Bank of America Corp. 134,194 -2,238 Banking
5 J.P. Morgan Chase & Co. 115,475 17,370 Banking
6 Citigroup 111,055 10,602 Banking
7 American International Group 104,417 7,786 Insurance
8 Freddie Mac 98,368 -14,025 Diversified financial
9 Wells Fargo 93,249 12,362 Banking
10 State Farm Insurance Cos. 63,177 1,763 Insurance
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8. Retail Banking
Function Provides consumers with a wide range of banking products and services designed
to meet the needs of a varied customer base.
 Acceptance of deposits in to checking and savings accounts
 Transaction processing for deposit accounts
 Issues credit cards and processes merchant transactions, payment processing
 Arranges safe deposit boxes for customers
Example  Sells certificates of deposit, retirement accounts
Activities  Provides for transfer of funds
 Provides banking via ATM machines and mobile devices
 Arranges a variety of personal loans
 May also process applications for mortgage loans
Citibank, Bank of America, JPMorgan Chase, Wells Fargo, US Bank
Example
Also a variety of regional and local banks.
Companies
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9. Retail Banking Products and Services
Cash Management – Checking & Savings,
ATM cards
Online Banking
Mobile Banking
Payment Processing
Loan Products – Home, Auto, Personal,
Credit Cards
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10. Types of Bank Accounts
1. Checking accounts are a deposit account for the purpose of securely
providing access to funds on demand, via checks, ATM transactions,
and transfers of funds.
Also known as demand deposit accounts (DDA).
2. A deposit account is a savings account, money market or time
deposit at a bank that allows money to be deposited and withdrawn
by the account owner (s).
Also referred to a Savings Deposit Account (SDA).
3. Money market accounts is a deposit account with a higher rate of
interest paid for higher balances. In the United States it is subject to
regulations that limits the frequency of transactions/
4. Time Deposit Account (TDA) is a deposit account that cannot be
withdrawn for a fixed period of time, unless an early withdraw fee is
paid. In most cases the longer the term of deposit the better the yield
on the deposit.
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11. Insured Accounts
Checking, Savings accounts and bank CDs are
insured by the FDIC and offer a smaller return
because they are safer.
Stocks, bonds and mutual funds are not insured.
• The four largest U.S. banks held $3.6 trillion in deposits as of Dec. 2011
• The next 46 institutions held $2.68 trillion in deposits
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12. Automatic Teller Machines
1.75 million ATMs
worldwide.
401,500 ATMs
in the U.S.
Meanwhile, ATM cash withdrawals are on
the upswing.
A January 2011 report says ATM
transaction volume grew 0.8% annually
between 2006 and 2009, but dollar
volume of ATM withdrawals increased by
nearly 3% a year.
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13. How important are ATM’s to a Bank?
Consider these facts:
 The typical ATM customer will spend 20-25% more than a non-ATM customer if the ATM is located
in a store
 The largest portion of regular ATM users (40%) visit an average of 10 times a month
 60% of Americans between the ages of 25 and 34 and 51% between 35 and 49, use ATMs eight (8)
times a month
 The typical ATM user visits an ATM an average of 7.4 times per month
 The average amount of money withdrawn is $60.45 with $20 being the most common withdrawal
 The most popular day for ATM usage is Friday
 Americans cite 24-hour access as the most beneficial feature for ATM usa
 Half of all adult Americans use ATMs regularly, with younger Americans and those with high
incomes using them most often
 Overall, 60% of those making over $40,000 a year use ATMs, while only 30% of Americans making
less than $20,000 a year use them
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14. Online Banking
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15. Online Banking
Online banking is more than 1/3 of the transaction volume at most banks.
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16. Virtual Banks
Virtual banks are banks without bricks; they exist entirely on the Internet.
Virtual banks pass the money they save on overhead along to you in the form of higher yields, lower
fees and more generous account thresholds.
Advantages of online banking Disadvantages of online banking
 Convenience: available 24 hours a day.  Typically charge the same surcharge if you used
 Ubiquity: log on from anywhere. another bank's automated teller.
 Transaction speed: Online banks execute and  Many virtual banks won't accept deposits via ATM.
confirm transactions at or quicker than ATM  Start-up may take time: In order to register for your
processing speeds. bank's online program, you will probably have to
 Efficiency: You can access and manage all accounts, provide ID and sign up via the mail.
from one secure site.  Learning curve: Banking sites can be difficult to
 Effectiveness: Many online banking sites now offer navigate at first.
sophisticated tools, including:  Bank site changes: Even the largest banks
 account aggregation periodically upgrade their online programs, adding
 stock quotes, rate alerts new features in unfamiliar places.
 portfolio managing programs
 Most are also compatible with money managing
programs such as Quicken and Microsoft Money.
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17. Mobile Banking
great potential for growth
 Both Starbucks (reporting 20 million mobile transactions) and
PayPal (expecting $3.5 billion of mobile transactions in 2011)
reporting strong growth in their mobile banking initiatives
 Bank of America has 29 million online banking users, and now
has more than two million mobile users. That number
doubled in less than a year. It’s also half of the current
number of mobile banking households in the U.S.
 Several other interesting stats from BofA:
 More than 40% of active mobile bankers use an iPhone or iPod
touch. That's about double the usage you'd expect given
Apple's 23% share of the U.S. installed smart phone base.
 The bank believes the mobile channel is driving some new
business to the bank with 8% to 10% of mobile bankers,
almost 200,000, having signed up for the service within 90
days of opening an account.
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18. Trends in Payment Processing
A typical bank branch will see fewer than 100 check related teller transactions per day by 2011 and that by 2014, this
volume will half to just 50 daily transactions.
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19. Payment Processing – Industry Trends
 10 years ago 30% of checking accounts in the U.S.  Mobile Payments: Mobile payments are more
had a debit card attached to them. common in developing markets, but that is
 Now virtually every checking account opened quickly changing.
automatically has a debit card. Yet as this service grows, Gartner admits there
 Payment processing costs less as a debit will be challenges. Mobile payments will be a
transaction if processed as a PIN transaction “highly fragmented market” where there will not
rather then as a signature transaction. be “standard practices of deployment”. That
 50% of incoming calls to bank call-centers are makes it sound like this is one technology that
come from people checking their bank balances. will still need some work in 2012/13, before
 mobile banking and payments really start to pick taking off.
up
 Money Transfer: This refers to people sending
 the average household has between 13 and 15 money via SMS messages.
credit cards, 2.5 debit cards, not to mention 5+
loyalty cards.  Near Field Communications (NFC): More popular
 In 2001, credit cards with rewards programs in some European and Asian markets than in the
accounted for just 20% of all general purpose U.S., NFC still isn’t a standard feature on many of
credit cards, but 40% of all card spend. today’s phones. That may be about to change,
 2010, 90% of credit cards with rewards. too. Gartner says that NFC-enabled phones will
 Credit card issuers know that reward cards drive begin to ship in volume, with Asia leading
people to spend more. deployments, followed by Europe and North
America. NFC can be use to effect payments from
a mobile device.
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20. Electronic Payment System
 Banks use electronic payment systems to transfer trillions of dollars between banks and bank
customers every business day of the year.
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21. Loan Products
 Bank loan products are typically
separated by the markets they
serve:
 Retail lending to consumers,
includes:
• Personal loans
• Home loans
• Mortgage Loans
• Auto Loans
 Corporate lending includes:
• Term loans
• Working Capital loans
• Mortgage loans
• Equipment financing
• Receivable financing
• Trade Finance
• And Small Business Administration
loans
 Each loan product has a series of steps
from origination, credit analysis to
approval and disbursement. Once a loan
is disbursed it must be serviced until
closed.
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22. Typical loan decision process
Customer Bank
Loan application performs Yes Loan docs
requests a Credit prepared
is completed credit
loan (could be online)
Decision
analysis
Credit No
Report inform customer
Employment
Verification
Customer Bank Bank
prepares Bank
signs verifies Loan systems
accounting funds loan Loan serves
loans documents entries updated
This generalized process is followed for all loan types, with different loans requiring more documentation or
verification.
For example a loan secured by real estate needs an appraisal to set the value of the property.
Inventory financing might need to be secured by a lien on the inventory.
Title to an auto would be retained by the bank until the loan is paid off etc.
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23. Loan origination business process
 Loan origination includes the business processes, supporting services, and operational systems
needed to create loans, set up the accounting of the loan transaction and operationally support the
servicing of the loan, until it closes (or is paid off).
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24. Credit Card Companies
 A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and
services based on the holder's promise to pay for these goods and services. The issuer of the card creates a
revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money
for payment to a merchant or as a cash advance to the user.
 The concept of using a card for purchases was described in 1887 by Edward Bellamy in his utopian novel Looking
Backward.
 Credit Card Issuers vs. Credit Card Associations: What the difference is between the two logos featured on many of
your credit cards?
 90% of credit card accounts in the U.S. are issued by five banks: JPMorgan Chase, Citigroup, Bank of America, Capital One, and HSBC.
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25. Credit Card Transaction Flow
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26. Tax service providers
 60% of US taxpayers continue to pay professionals to
prepare their taxes
 Brick and Mortar: Major players, with market share
 CPAs (Certified Public Accountants) 60%
 H&R Block 33%
 Jackson Hewitt 2%
 JTH Tax (aka Liberty Tax) 1%
 Digital Market: Major players, with market share
 TurboTax Intuit 80%
 AtHome H&R Block 20%
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27. Credit rating agencies
Market Share:
Standard & Poor’s 40% Moody's Investor Service 40% Fitch Ratings 14%
Rating Financial Indicator
AAA Prime (Highly rated)
BBB Lower medium grade
CCC Extremely speculative
D In default
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28. Credit Bureaus
 Most U.S. consumer credit information is collected and kept by the three national credit
reporting agencies:
 Equifax
 Experian
 TransUnion
 Consumers are entitled to a free annual credit report from each of the above companies.
Consumers can go to annualcreditreport.com, to get their free report.
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29. Business Banking
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30. Business Banking
Provides day-to-day financial advice, products and services focused on small
Function to mid-size businesses often headquartered in the local community.
 Provides credit analysis to determine appropriate financial products, loans
and services
 Generates loan proposals and documents to support funding requirements
of small to mid-size businesses
Example  Arranges for deposit services and cash management product to more efficiently
collect available cash balances into consolidate accounts
activities  Offers payroll processing and check cashing for employees
 May offer retirement plans for employees of companies
 May also offer advice and coordination of various other services in the
community (accounting, legal, tax, financial planning are examples.)
 Provides lines of credit, equipment financing and term loans
 Letters of credit for financing export/import activities
 Merchant credit card processing
Example  Citibank, Bank of America, JPMorgan Chase, Wells Fargo
Companies
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31. Business Banking Products and Services
 Many of the banking products and services provided to consumers will be
similar for business banking. Businesses need checking, savings and time
deposit accounts. Businesses need financing for their business operations
and they need other services, including:
 Business Loans
 Trade Financing
 Letters of Credit
 Payroll processing
 Retirement plans
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32. Business Loan Types
Term loans Working Mortgage Equipment Receivable Trade Small
Capital loans Financing financing Finance Business
loans Administra
tion loans
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33. Credit Card Payment Processing
 Most banks that provide business services include the ability to process credit card
payments for merchants.
Source: Merchantuniversity.org
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34. Processing flow for e-checking services
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35. Trade Finance
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36. Letters of Credit
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37. Retirement Plan Services
Small business owners face challenges with retirement plan administration.
Banks typically offer a range of simple retirement plans that work well for a
business. Banks benefit from offering this service by collecting fees for plan
administration and processing contributions.
 SIMPLE 401k  SEP IRAs
 A SIMPLE 401k allows for easy administration  A simplified employee pension plan can be
of a plan for businesses with fewer than 101 established through an IRA to generate tax
employees and no other retirement plan benefits and savings for a business owner
options. The only restriction is an employer and employees of a small business.
must offer either: a matching contribution up
 SIMPLE IRAs
to 3 percent of each employee's pay or a non-
elective contribution of 2 percent of each  A SIMPLE (Savings Incentive Match Plan for
eligible employee's pay. Employees). The plan differs from a 401k
because each employee sets up her own
 Single-Participant 401k
IRA. The employer simply manages or
 The single participant 401k option allows a matches contributions, as willing,
small business owner to increase the throughout the year.
contribution limits. With this option, an
employer can opt to either make contributions
as a business owner or as an employee of the
organization.
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38. Investment Banking
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39. IB Banking/Brokerage Firm Overview
Investment Banking and
Brokerage Firms
Investing Banking
Brokerage and Capital Markets
Brings in client money that the firm will be paid Provides advice and banking services to
to manage and invest, and that the firm can corporations, arranges complex financial
also lend to others. transactions such as mergers, and trades
stocks/bonds for the firm’s clients.
Private Bank/ Retail Brokerage Investment Banking
Equity Research Corporate Banking
Sales and Trading
Transaction Services
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40. Private Bank
 Provides banking and other services to clients with large amounts of money
Function to invest (typically more than $10 million, but some banks start at $1MM)
 Handling client requests, e.g. investment advice, buying or selling a
certain
stock or bond, or arranging a large loans
 Prospecting new clients through networking and cooperation with other
divisions of the bank
Example Examples:
activities  Meet with client in order to discuss strategies to minimize taxes or
achieve other financial objectives
 Advise client on investing in non-traditional areas such as art or
sophisticated financial instruments such as hedge funds
 Meet with investment bankers in order to bring CEO of a client company in
on a personal basis as a private bank client
 Arrange large personal loans using assets such as planes or company
stock as collateral
Example  Citibank Private Bank, UBS, Bank of America Private Bank, Northern Trust
Companies
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41. Retail Brokerage
Function  Provides banking and other services to clients with varying amounts of
money to invest
 Handling client requests, e.g. investment advice, buying or selling a
certain stock or bond
 Prospecting clients (usually through "cold calling")
Examples:
Example  Call all the lawyers at a particular law firm to see whether any are
interested in opening up an account
activities  Buy 500 shares of Procter & Gamble on a client’s behalf
 Distribute mutual fund information to a client and recommend the best
investments for a client’s objectives
 Inform the client of new products (such as different types of insurance or
annuities) that the brokerage is offering that could be useful in attaining
certain financial goals
 Smith Barney, Charles Schwab, Morgan Stanley, Fidelity, Raymond James
Example
Companies
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42. Equity Research
Creates research reports recommending selling or buying certain company stocks;
Function often also produces other types of economic and financial reports
 Build complex Excel spreadsheets that help predict the future financial performanc
of companies
 Publish reports involving financial projections as well as other types of data that he
predict the future performance of a company
 Research on industries (such as restaurants or oil companies) and on economic tre
Example (such as the price of gold or the Japanese economy)
activities Examples:
 Publish a 10-page report predicting the stock performance of Coca-Cola including f
financial statements, using e.g. regulatory filings, conversations with executives at
company, information on Coca-Cola’s market share in selected markets, etc.
 Monitor news on specific companies
 Speak with people inside the company, and sometimes investment managers within
the company, about the prospects of an investment
 Smith Barney, JPMorgan, Goldman Sachs, Credit Suisse
Example  Equity research was traditionally a function of an investment bank so most
Companies investment banks will have an affiliated research unit
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43. Investment Banking
Function  Provides financial advice and services to corporate clients
 Build complex spreadsheets that help predict the future financial performance
of companies
 Put together proposals for bank services that could be useful to a
client (for example, might include financial statistics or ideas for companies to bu
Example  Draft and proofread financial statements and regulatory documents
activities  Meet with and build relationships with client executives
Examples:
 Help a company determine a fair price at which to sell itself to a competitor
(or vice versa)
 Draft legal and regulatory documents for issuing stocks or bonds, then travel wit
client executives to help sell the new stocks or bonds (Road Shows)
Example  Citibank Private Bank, UBS, Bank of America Private Bank, Northern Trust
Companies
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44. Corporate Banking
 Provides day-to-day financial advice and services to corporate clients; many
Function are
similar to those offered by a consumer bank, but on a much larger scale
 Build complex Excel spreadsheets that help predict the future financial
performanceof companies
 Put together PowerPoint proposals for bank services that could be useful to a
client (for example, might include financial statistics or ideas for companies to
buy)
Example  Draft and proofread financial statements and regulatory documents
 Meet with and build relationships with client executives
activities Examples:
 Arrange a regular multi-billion dollar loan to a corporation to help it expand its
operations
 Arrange a special type of loan that allows a company to borrow money at a
low interest rate and that is collateralized with some of the company’s assets
(such as planes or construction equipment)
 Arrange a mortgage on an industrial property such as a factory
Example  Citigroup Investment Bank, JPMorgan, Goldman Sachs, Credit Suisse
 There is some overlap between all four “Banking and Capital Markets”
Companies functions so companies will typically offer all of them, but specialize in
one or two areas
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45. Sales and Trading
Buy and sell stocks and bonds for large investors such as companies and
Function Governments
 Sell company or government stocks and bonds to financial investment firms
(such as
other banks, mutual fund companies, and hedge funds)
 Fulfill orders to sell or buy large quantities of stocks and bonds at a
predetermined
Example price
activities  Check to see whether trades are executed correctly
Examples:
 Buy 500,000 shares of Nike for a hedge fund that wants to invest in Nike
stock
 Call investment firms to persuade them to buy their stocks and bonds
through you in exchange for a commission
 Put together a group of investors to buy a large amount of new stock that is
coming to market
 Citigroup Investment Bank, JPMorgan, Goldman Sachs, Credit Suisse
Example  There is some overlap between all four “Banking and Capital Markets”
Companies functions so companies will typically offer all of them, but specialize in
one or two areas.
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46. Transaction Services
Provides operational services for managing very large amounts of cash, stocks
Function and bonds including technology support
 Especially broad variety of day-to-day job functions, depending on the
specific area
 Collect, analyze and report financial data for clients, including a client's day-
to-day financial status
 Implement a technology solution for helping clients trade stocks more
Example efficiently
activities  Meet with and build relationships with client executives
Examples:
 Train a client in the use of a new financial reporting system
 Supervise and check the transfer of a large amount of money or stock from
an client’s account to another company
 Design and develop database to store records relating to claims in a class-
action suit
 Compute interest due on a bond and inform the issuer of the bond, then
coordinate payment to all bondholders
Example  Citigroup, JPMorgan, Northern Trust, Bank of New York, Wells Fargo
Companies
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47. Wealth Management
Services
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48. Wealth Management Services
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49. Questions
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50. Thank You !
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51. Training from Saunders Learning Group
Saunders Learning Group provides a variety
of training programs, workshops and
seminars targeted to the financial services
industry.
Programs are available in a wide range of
topics, and we are specialists in developing
custom programs that are targeted to your
needs.
Contact the founder, Floyd Saunders at
316-680-6482 or at
floyd@floydsaunders.com for more
information.
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50

52. About the Author/Presenter
 Floyd Saunders has worked on Wall Street
with both Bank of America and JPMorgan,
where is was a vice president in global
financial systems. He has worked across the
industry in retail, commercial, and
investment banking.
 He has taught courses in Money and Banking
and extensively for the American Institute of
Banking and various colleges.
 As a consultant, he developed and taught a
wide range of banking and investing courses.
 He authored three programs for the
American Bankers Association: Banking on
Mutual Funds and Annuities, Introduction to
Securities Markets and Investing in Securities.
 He is the author of “Figuring Out Wall Street”
and his next book is “Family Financial
Freedom” a book on personal money
management.
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53. Reference Material
Figuring Out Wall Street Consumer’s Guide To
Financial Markets
By Floyd Saunders
Publisher: Saunders Learning Group
ISBN: 978-0-9824019-0-3
Available from Amazon:
http://www.amazon.com/Figuring-Out-Wall-Street-
Consumers/dp/0982401906
and many other online book stores.
Book summary: Figuring Out Wall Street, is the
concise guide to help everyone understand how what to do
now to restore our financial systems. Written in an easy to
understand manner, even the most complex financial
concepts are easy to digest. This book provides help to
monitor investments with a review of investment products,
financial regulators and economic indicators. Learn how the
stock market exchanges work and the world of investment
banking, hedge funds, venture capital and private equity.
Every chapter includes action plans for investing.
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