Personal banking

Personal banking

Referring to the business when banks carry out transactions with customers directly, rather than with other banking institutions or with large corporations.

Industry: Banking

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Personal banking

In the broadest sense of the term, “banking” is the business of accepting temporary responsibility for safeguarding other people's money (“deposits”) and then lending out these funds (along with the ...

adversely classified asset

Banking; Personal banking

Loans and other assets that are at risk to some degree, in the opinion of bank examiners. Such assets fail to meet acceptable credit standards, and totals of classified loans are reported separately ...

ATM skimming

Banking; Personal banking

Describes the consumer fraud or theft that occurs when using an ATM that has been tampered with. Devices attached to the ATM (more commonly occurring at stand-alone ATMs) are used to collect credit ...

Transaction

Banking; Personal banking

A [financial] transaction involves a change in the status of the finances of two or more businesses or individuals.

lean

Banking; Personal banking

Lean is a methodology introduced in the business world and adopted by the banking sector in order to simplify internal processes and procedures to make the company efficient.

betting

Banking; Personal banking

A bet may be defined as the backing of an affirmation or forecast by offering to forfeit, in case of an adverse issue, a sum of money or article of value to one who, by accepting, maintains the ...