Understanding Bank Products
Course Number: UPB1
Course Code: ABA 100
Explains how to identify unrecognized client needs and describes the differences between product features and benefits of common consumer deposit products. This course identifies the categories of small business needs and describes cash management, retirement, and international banking services. It identifies the categories of business expenses that require financing and that are appropriate to finance via working capital loans. This course also describes business credit products used to finance durable equipment and real estate. This course explains estate planning and settlement services offered by banks. It identifies the most common types of trust funds and services offered by banks.
After completing this course, students will be able to:
– Describe financial products in terms of features and benefits to the client
– Identify prospective clients for different categories of bank products and the clues that signal client needs
– Describe business banking products features and benefits
– Describe financial products and services in a way that demonstrates a client focus
Audience: Explores advantages to small businesses when offering retirement plans and the five retirement products and their general characteristics to match to specific client business needs. Compares client needs throughout the business life cycle to product characteristics. Introduces a referral process to make effective client referrals to retirement specialists.