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Tag: new age banking certification

Difference among Relationship, Portfolio & Wealth Manager in banking?

Posted on by Imarticus

Banking careers are prestigious and have been in demand for a number of reasons. Job security, fixed hours, awesome payouts and unending demand being the most notable ones. Wealth management and investment banking are the most sought popular areas in the financial sector and this is where career aspirants with a wealth management course want to be, for the great payouts and benefits. These fields may overlap though they are very different.

Basic differences:
The investment banker is the highest-paid and offers advice and financial services to institutions and corporate entities. They deal with acquisitions and mergers-M&A, stock splits, business restructuring, share buybacks, spinoffs, IPOs, and bond issues. They also help corporate clients in their investments for the short-term. The IB-career after a Wealth Management course is most popular and one should remember that:

  • IB and wealth management do overlap in operations.
  • The bankers in IB have bigger paychecks and obviously, work hours like 80-100 hrs per week.
  • Wealth Managers help individuals invest while IB deals with institutions and corporations.
  • The business owners and HNI clients of the wealth management bankers often need help and advice on M&As, issuances of bonds or IPOs from the banker in IB. The high-value clients are offered the services of a Relationship Manager who is their one-stop go-to for personalized services related to banking.
  • The Portfolio Manager is a specialist who offers his services in advising the WM clients on making investments and managing their portfolios for a fixed fee. Their advice is very popular since they cut-across the equity markets and IB areas. They advise on stocks, bond, IPOs, buy-outs, insurance, commodities and more.

Roles in Investment Banking:

The IB bankers need exceptional soft-skills to excel at financial management of the institutional clients and persuasive communication skills to deal in the multi-billion-dollar deals of the modern world. They advise and harbour the leveraged buyouts or hostile takeovers in M&A deals. It is exciting and pays well since the banks earn a fixed commission on these deals which are shared with the IB banker.

These deals do not happen often and area result of excellent fundamental business evaluation and long hours put in by the IB banker to broker such deals.

The skills of the IB banker are hence very exacting and require knowledge not just of the financial aspects but also across many industrial realms, stock-markets, industry-specific factors, business structures, issuances of IPOs, debentures, bonds and so on.

The market research analyst and the banker who is client-facing both have to collaborate on such deals to make those great presentations of deals, acquisitions, mergers and such.

They do not limit themselves to working only in The Microsoft Excel suite. Rather they make use of many tech tools to analyze huge volumes of data, draw forecasts and predictive insights from extensive research on data, and use their creative skills learned in a wealth management course. In addition to number crunching, operations specialists and account managers in IB also need to collaborate with each other.

Roles in Wealth Management:
Wealth management is a simple enough definition. Wealth managers work with clients on a one-on-one basis as against the IB bankers working with multiples of institutional and corporate clients. They manage the wealth portfolio and charge a fixed fee for their advice and services like portfolio management, managed-account services, investment accounts and such.

Wealth management services are also offered to people who have USD 50,000 to 500,000 and can include HNIs, corporate clients seeking short-term investments, and small clients who need management of their diverse portfolios.

They offer brokerage accounts helping clients to virtually invest in all instruments of their choice and also offer tax planning, retirement planning, and estate planning and management services. They are hence called client relationship managers or investment specialists.

While knowing the client and personally interacting with them is for the communicative relationship manager, the investment specialists effectively deal with the instruments they specialize in like issuances of IPOs, bonds, stocks and such. Such managers work collaboratively and a relationship manager is always assigned to the client to ensure the client’s personalized investments are managed and run effectively and at all times no matter if they are institutional clients or HNI clients.

Conclusions:

The two fields may overlap and the titles may be many. However, it all boils down to training and a wealth management course to be able to cater to diverse exacting job roles. IB is global and the more languages and banking ecosystems of foreign countries you know, the more successful you can become.

Certifications like CFA, Series7 exams and such can put you on a different pedestal. A good training course is ESSENTIAL for all.

Join and enquire at Imarticus Learning today! For more details in brief and for further career counseling, you can also contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Banglore, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

4 Steps To Increase Cyber Resilience In Wealth Management?

Posted on by Imarticus

No amount of wealth management training is sufficient to protect a person’s assets from the dangers of phishing attacks and other malware. The best strategies against cyber attacks are by being vigilant and strengthening the foundations of security.
This is where a new term- cyber resilience, comes into the picture. Put simply, cyber resilience is the process of making defense systems more agile by combining the best of cybersecurity and business resilience. It can be defined as a business’s or organization’s ability to adapt to attacks in a fast-paced environment.
It has become an important part of wealth management training setups that emphasize on the core strengths of highly‌ ‌structured‌ ‌security systems are 4 strategies to do so.
Prepare And Identify Threats
An important part behind any good cyber resilience strategy is to properly identify actions for when the cyber event will occur. Using a bundle of defender tools and data trackers, businesses can know the weak points in the chain of security and act accordingly to prevent any mishaps. Preparedness also involves being able to deal with specific emergency management business functions such as asset management, debit and credit checks, human resources, strategic planning, financial management, and risk management.
Surprisingly, there is a lack of well-documented procedures that should be followed in the event of a cyber attack. Dynamic business environments have to create their own methods with some references from established sources such as the EU General Data Protection Regulation.
Detect Different Attacks
Vigilance, above all, is necessary. Focus on activities to rapidly identify when an attack is to occur and ensure there are proper contingencies in place to substitute for the systems that may be affected when things go wrong. This strategy involves the use of monitoring networks for indicators and keeping safeguards that come into action automatically. There can be a wide variety of attacks including the common DOS(Denial Of Service) attacks.
In the scope of wealth management training, this could be a secondary app or form that caters to use needs during maintenance checks or the use of DNS Reverse Search Lookups to increase security. More importantly, the system should not treat an anomaly that occurs in the mainframe as an attack if it doesn’t cause any mishaps. The reason for the distinction is to prevent this from occurring.
Build Effective Response Systems
Instead of being dependent on the security setups of a singular platform to manage wealth and capital, invest some money in auxiliary systems to support the current network. Incident reports and response plans must be drafted and circulated among users along with some roles that should be assigned to potential members of the organization.
But instead of using machines as tools for response systems, certain individuals must be delegated to ensure safety. Appoint a team leader or a manager to check the system security frequently and produce reports to its health. Another person in the team should have the responsibility of incident checks, coordinating response team activities, and communicating status reports to upper management.
Recover And Review
Use the review systems to restore any affected data. The flow of money should never be affected especially when the concentration of transactions increases exponentially with the number of users. A good means of implementing this is through the use of methodologies like SCRUM that stress on a cyclical procedure to assess attacks and respond to them.
An effective cyber resilience strategy looks at developing and implementing appropriate methods to restore data points and services immediately after an attack. Keeping enough number of phase gates for identity checks or using an SSL(Secure Socket Layers) can help implement these strategies to a great degree.
For more details, you can also visit – Imarticus Learning or can contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Banglore, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

What Is Digital Transformation in Retail Banking and The Role of Data?

Posted on by Imarticus

Today’s financial services industry is nothing like what it was a decade ago. Changing customer behavior boosts in technology and intelligence and the general digitization of society is what’s behind this massive change. Over the past few years, banks have had to pull their socks up and get with the times to stay afloat. For many, this meant a digital transformation.

What is a digital transformation?
Digital transformation is the integration of new-age technology into all aspects of a business. It branches off into two– the fundamental changes in operations and client services, and the cultural transformation that follows in its wake.

Digital transformation in retail banking is driven by the need to speed up growth. In fact, 87% of banks have a long-term plan for digital innovation in place already. It’s just as well, seeing as online banking systems and third-party companies such as Paypal and Google Pay continue to threaten traditional banking organizations.

Investments in data analytics and the cloud are on a steady plateau, but expenditure on next-gen technologies like blockchain and Artificial Intelligence is on the rise.

Where are these technologies used in retail banking?
Customer service: Customers are increasingly choosing their primary financial service providers based on how easily they can operate and access their assets and how mobile the system is.

Digital IDs: Biometrics-based solutions enable customers to register once and be recognized each time. This increases operational efficiency and tightens security.

Voice banking: Voice authentication and banking are largely untapped, but it’s only a matter of time before AI-powered digital assistants catch on just in the retail banking sphere just as digital transformation, in general, did.

Distributed ledger technology: Traditional retail banks maintain central databases but they’re slowly making the shift to blockchain systems, where there’s no need for intermediaries or central authority.

What is the role of data in retail banking’s digital transformation?
Retail banks are inherently data-driven businesses. How well they use customer data insights is what gives one bank a competitive edge over another. Small wonder, then, that the role of data in extremely crucial in the digital transformation of retail banking.

Here is a quick breakdown of how data can be used in new-age banking:

Hyper-personalization: Too often, traditional banks have tried to target individuals based on crude segmentation that does more harm than good. With new-age technology, data analytics on consumer information can identify how to effectively target audience in an age where banking is no longer a life-long commitment.

Insight-driven services: Retail banking needs data to establish and promote insight-driven services that add value. A lot more is asked of a retail bank today than 10 years ago, and not just in terms of interest rates and lockers for valuables. Banks must come across as having customers’ best interests in mind to establish brand loyalty and drive numbers.

Personal Finance Management: with data and technology, banks can better cater to customers and assist them in managing their money efficiently. Personal and relationship managers have long been a part of the retail banking system. But with the help of data analytics and technology, banks can deliver into insights that once eluded them, thereby making the system more efficient and personalized.

The retail banking sector is in for a rough few years, but the silver lining is that banks already have a headstart on client relationships. Using digital banking to leverage these personal connections can make retail banks far more indispensable than their online competitors.

What does this mean for employees and aspirants?
Traditional methods and syllabi can only go so far in preparing you for digital disruption. New-age banking courses can effectively prepare people of all experience levels for the digital age. The better banking courses are those that will give you hands-on experiences and allow you to interact with industry professionals to see how the digitization has transformed their daily work.
Retail banking training can also be organized by the banks themselves. Introduction to these technologies is crucial to maintain stability during cultural and structural changes. To learn new-age banking is to prepare oneself for the future.

What Are The Ways To Improve Customer Experience In Banking?

Posted on by Imarticus

What Are The Ways To Improve Customer Experience In Banking?

The digital disruption of banking has today revolutionized customer experience. Not only has it made the leap from conventional to convenient, but it’s also gone online and into your cellphones. New-age banking refers to this process– the digital transformation of traditional retail banking into one that gives more as demands are more.
One of the core focuses of digital transformations is to drastically improve customer service.

This is especially crucial in the light of fintech firms, online banks, and non-banking companies coming into the fray for payments and asset management. One of the highlights of traditional retail banks is the opportunity they have to meet, converse and maintain a relationship with clients in the flesh– something pure-play digital banking firms haven’t achieved yet.

That said, it takes a lot of time, effort and resources to begin a digital transformation, let alone complete it within a set span of time. New-age banking training is crucial for anyone looking to join the retail banking sector today, or even for those professionals wishing to retain their bank jobs and become future-proof.

How then, can conventional retail banks improve their customer experience through new-age banking training?

Enable digital on-boarding
New technologies allow banks to move verification of credentials online, using digital IDs, fingerprints and even voice recognition software. This is very helpful for clients, who till date have had to fish out credentials and IDs for every major banking transaction.

Through training, employees can learn how to manage this new technology without a hiccup, because a crucial part of bringing in new technology is ensuring there are people to effectively manage it. This improves customer experience and speeds up operations.

Automate or move basic processes online
The retail banking experience needs to be seamless to hold the fort against other online competitors. A good way to begin this is to automate or make mobile basic processes such as opening a new account and resolving issues. Relationship managers can be trained to operate front-line AI systems that carry out routine calls and checks on silent clients.

Improve personalization
Hyper-personalisation is a benefit of digital transformations, especially in this age when clients expect to be treated on an individual basis rather than as part of a general segment. Through a new-age banking course that focuses on customer service, employees can understand how to target customers based on their individual data.

This could be in the form of relatable discounts based on spending categories or sending location-specific push offers. A banking course that covers personalization in customer service can make trainees more efficient at their job role and keeps clients happy as well.

Establish self-service areas
While this idea hasn’t caught on as much in India, it’s a viable option for banks that see a lot of footfall around basic processes that don’t need too much human intervention. Interactive walls and digital terminals are just a couple of options to introduce new-age tech into banks.

Employees can then focus on assisting clients based on their response at digital terminals, or if there’s an extensive issue that the terminal can’t solve. This way, employees can focus more time and effort on actually providing help rather than going through the motions frustratingly.

Improve internal efficiency
When new technology is installed, there will always be a period of confusion. To minimize the damage caused by this period, employees must receive new-age banking training that not only helps them understand the technology that’s in use but also how to use it to leverage their performance. This could involve revamping structures, breaking down internal job silos, even bringing dedicated experience teams into the picture.

New-age banking is no longer a thing of the future, it’s a reality. To get with the times and future-proof themselves, employees must undergo training that exhaustively covers new technologies. Retails banks will only benefit from such an investment because tech-savvy employees mean satisfied customers.

For more details, in brief, you can also directly visit: Imarticus Learning or can contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Banglore, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

How Can You Shift To Corporate Banking After Having Experience Working In Retail Banking?

Posted on by Imarticus

How Can You Shift To Corporate Banking After Having Experience Working In Retail Banking?

Your decision to take up a banking course after graduation will stand you in good stead after being in retail banking. Corporate banking is a great career choice. Corporate Banking which is an area many career aspirants would love to join surprisingly has very few good certification courses.

Recently FLIP introduced a specific Corporate Banking certification course which is apparently popular among B-school aspirants. This course covers non-funded and funded products while taking you through all corporate banking important work areas. It is an apt course for SME and corporate banking career aspirants and is also used for employee training by leading NBFCs and banks.

Employment Outlook:

The pay packages, bonuses, and career progression when you make a career in any field of banking like Corporate Banking are not just lucrative and prestigious. They are performance and certification related enabling continuous learning and very satisfying job roles.

According to Glassdoor salaries, the Manager in Corporate Banking at YES bank draws a salary in the range of 1,205 to 1,716K per annum in India. In the US the corporate banker aka Personal banker at Bank of America draws an average of USD 43,330 per annum. These salaries are post based and depend on the bank you join.

Most say a banking course after graduation offers some great pluses like

  • Job security and working in MNC environments.
  • Super salary packages topped with great benefits
  • Jobs for retired bankers and career-changers within the banking areas are never a problem.
  • Wide variety of jobs experiences and roles.
  • Banking industry jobs are prestigious and have a thriving ecosystem.
  • To update knowledge of latest banking trends and practices training can help. They also help with certifications and interview skills.
  • Excellent career progression and scope for banking jobs makes this career choice great.
  • Community service goals and continued learning opportunities are satisfying and enriching.
  • The working hours are good and the environment conducive to career-progression.
  • Certifications gained will add to your resume and knowledge endorsing your skill levels.

Skills required:

To become career-prepared you need to undertake a course in corporate banking. An academic bachelor’s degree would be essential and experience in banking practices definitely help. Fluency in English communication and excellent skills in presentations using Microsoft Excel Macros and financial software is critical to presenting a report of insights that help decision-making based on predictive analysis foresight and data analytical skills. Yes, conceptual knowledge and expertise in the domain enable you to stand out in this prestigious job.

Why banking jobs are so popular:

In comparison to investment banking, corporate banking dealing with corporate has relatively fixed working hours, fewer deals, large-deal amounts and offers a broader job-scope. New-age banks have evolved which are needs and market-based. Traditionally the roles were related to customer-service and teller areas in banks. This means multi-tasking banking professionals are in high demand. Today rather than specific roles in corporate banking, an aspirant can also take up any of the trending opportunities in new-age banking like

The banking course after graduation syllabus covers topics like

  • Understanding products, solutions, corporate client requirements and the matching of these parameters.
  • RAROC adjustments of risk, wallet sizes, Matrix for product penetration, and relationship management.
  • Credit note memos, analysis, and presentations to the management.
  • Client credit-profile analysis and assessment through quantitative and qualitative techniques.
  • Corporate banking products, Treasury products, and both non-funded and funded products.

In retail banking aka consumer banking, the focus is on the individual consumers or mass-market large commercial banks offering services through their local offices. Some examples of such banks are Citibank, JPMorgan, Goldman Sachs, Wells Fargo and Bank of America.

Increasingly the trend is to go in for new-age banking with a gamut of services and products that are consumer-need and profitability-based one-stop banking solutions providers with services like retirement planning, private banking, brokerage accounts, corporate banking, wealth management, and even third-party services being included. Hence a wide-scope new age banking certification is best undertaken at a reputed institute like Imarticus Learning.

Conclusion:

The pay packages, bonuses, and career progression when you make in corporate banking are not just lucrative and prestigious. They are performance and certification related enabling continuous learning and very satisfying job roles. Hurry to Imarticus Learning today!

For more details in brief and for further career counselling, you can also contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Bangalore, Hyderabad, Delhi and Gurgaon.

Which Are The Best Certification Courses In Corporate Banking?

Posted on by Imarticus

Corporate Banking which is an area many career aspirants would love to join surprisingly has very few good certification courses. Recently FLIP introduced a specific Corporate Banking certification course which is apparently popular among the B-school aspirants.

This course covers non-funded and funded products while taking you through all corporate banking important work areas. It is an apt course for SME and corporate banking career aspirants and is also used for employee training by leading NBFCs and banks.

The syllabus covers topics like: 

  • Understanding products, solutions, corporate client requirements and the matching of these parameters.
  • RAROC adjustments of risk, wallet sizes, Matrix for product penetration, and relationship management.
  • Credit note memos, analysis, and presentations to the management.
  • Client credit-profile analysis and assessment through quantitative and qualitative techniques.
  • Corporate banking products, Treasury products, and both non-funded and funded products.

In retail banking aka consumer banking, the focus is on the individual consumers or mass-market large commercial banks offering services through their local offices. Some examples of such banks are Citibank, JPMorgan, Goldman Sachs, Wells Fargo and Bank of America.

Increasingly the trend is to go in for new-age banking with a gamut of services and products that are consumer-need and profitability based one-stop banking solutions providers with services like retirement planning, private banking, brokerage accounts, corporate banking, wealth management, and even third-party services being included. Hence a wide-scope Corporate Banking Course is best undertaken at a reputed institute like Imarticus Learning.

Why banking jobs are so popular:

In comparison to investment banking, corporate banking dealing with corporate has relatively fixed working hours, fewer deals, large-deal amounts and offers a broader job-scope. New-age banks have evolved which are needs and market-based. Traditionally the roles were related to customer-service and teller areas in banks. This means multi-tasking banking professionals are in high demand.

Today rather than specific roles in corporate banking, an aspirant can also take up any of the trending opportunities in new-age banking like

  • Investment and Trust Banking help with investments, issuances, property and fund management for both individual and institutional clients.
  • Operations roles deal with the everyday handling of banking operations from bookkeeping, record keeping, financial analysis, strategy meetings, client presentations, etc.
  • Personalized Consumer Banking or retail banking division roles deal with customized services and financial advice to priority individual HNI customers.
  • Commercial and Corporate Banking roles have clients like organizations, schools, businesses, churches, etc to cater to customized banking financial solutions.
  • IT, systems and security cover areas that aid the banking operation, accumulate technology, data, and records, store them safely, and maintain the safety of the entire banking environment and assets.
  • Accounting and administration roles handle policies, routine due-diligence, strategy and planning, internal operations and such tasks.
  • HR and PR Resources are the bloodlines and while HR is employee management related the PRO is client-facing and strives to improve customer experience and feedback.
  • Regulatory and Accounting and administration roles handle policies, routine due-diligence, strategy and planning, internal operations and such tasks.
  • Marketing is an important role and helps win the new customers into the fold with banks product information, managing the customer database, advertising, media, and press releases and much more.

The benefits:

New-age banking offers some great features like: 

  • Job security and working in MNC environments.
  • Super salary packages topped with great benefits
  • Jobs for retired bankers and career-changers within the banking areas are never a problem.
  • Wide variety of jobs experiences and roles.
  • Banking industry jobs are prestigious and have a thriving ecosystem.
  • To update knowledge of latest banking trends and practices new age banking training can help. They also help with certifications and interview skills.
  • Excellent career progression and scope for banking jobs makes this career choice great.
  • Community service goals and continued learning opportunities are satisfying and enriching.
  • The working hours are good and the environment conducive to career-progression.
  • Certifications gained to add value to your resume and knowledge endorsing your skill levels.

Skills required:

To become career-prepared you need to undertake new age banking training. An academic bachelor’s degree would be essential and experience in banking practices definitely help. Fluency in English communication and excellent skills in presentations using Microsoft Excel Macros and financial software is critical to presenting a report of insights that help decision-making based on predictive analysis foresight and data analytical skills. Yes, conceptual knowledge and expertise in the domain enable you to stand out in this prestigious job.

Conclusion:

The pay packages, bonuses, and career-progression when you make a career in new-age banking are not just lucrative and prestigious. They are performance and new-age banking certification enabling continuous learning and very satisfying job roles.

Hurry to Imarticus Learning today! For more details in brief and for further career counseling, you cal also contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Hyderabad, Delhi, Gurgaon, and Ahmedabad.