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What Makes Up Banking?
Banking is more than just your checking account. The banking industry provides a safe place for financial transactions, including those in both cash and credit. Banks have been around for generations, but with the advent of technology, the banking industry has seen significant changes. Banks house checking and savings accounts, offer credit cards, build money market accounts and certificates of deposit, offer loans and lines of credit, among many other aspects of wealth management. Banking is a lucrative industry despite technological changes, so understanding the industry could help you build a rewarding career.
Understanding the large banking industry requires more than teller experience. A bank has many moving parts, and financial advisors often use banks as the beginning of wealth management. Now, with millennials eschewing traditional banking in favor of practices like mobile banking, even the most prominent institutions have to change.
Banking Courses and Certifications
Banks have been slow moving traditionally, but a lot is going on now. Cryptocurrency is upending the traditional banking model. Mobile banking is upending customer service. Online only financial institutions challenge what it means to be a bank. Be ready for a career in an industry on the edge of a revolution with courses from edX. IIM Bombay offers a comprehensive professional education course in aspects of 21st-century banking. It includes risk management concepts, theories, and practices for the new financial ecosystem, and how federal government agencies have oversight and sway within this powerful industry. Other courses can teach you the fundamentals of Islamic banking (Islamic Research and Training Institute), blockchain (Linux), or credit risk management (Delft). These aspects of banking are an important part of understanding how banks operate in a multicultural society and how banks are preparing for future upheavals in the currency system.
Build a Career in Banking
Helping Americans with wealth management could be a rewarding career. A bank account is the first step in financial stability. From there, you could help others find FDIC insured products and qualify for auto loans with low interest rates. Banks can fund home equity credit, offer insurance products to protect assets their customers already have, and help get small businesses off the ground. No matter what aspect of banking you're involved with, tellers to investment advisers, banking is an industry with potential and growth. Technology and online banking may have changed the way we think about traditional banking, but the banking industry is still a roaring career field. Find your place.