A study of issues and challenges of retail banking

Generally, a financial institution caters to buyers of more than a few stature inclusive of company clients, institutional clients, authorities and the everyday small banking patron who solely appears for an account for his earnings profits or financial savings and this is the goal target market of retail banking section of any financial institution which affords merchandise appropriate for the want of such clients. The retail consumers have decrease transaction fee and want money owed for income, financial savings account, time period deposits loans, and so on. The purpose of this paper is to study recent trends and issue and the challenges in retail banking. The secondary data is used for this study. The analysis showed banks are facing challenges in the era of digitization and heavy competition. Banks need to get ahead of these challenges and retool to win in competitive market. They want to learn to be agile, progressive and adaptable in an effort to execute efficiently and deal with uncertainty because the future unfolds. They need to do things in another way. Keywords: Retail Banking, stakeholders, challenges of retail banking.