An overview of the banking sector

If we have to define banking then in simple words banking means the business activity of accepting and safeguarding money by other individuals and entities, and then lending out that money to earn profit. This business of banking is a very risky but is profitable to the economy of the country, depositors as well as the banks themselves.

Types of banks and their functions

Banking industry offers its services to different types of clientele, and on types of products offered and clientele served there are mainly six types of banks in the banking sector.

Retail banks: these type of banks offer very basic services to the consumers. Examples of such banks are saving banks and recurring and fixed deposits and the service they provide includes safe deposit boxes, saving and current accounting and different loans.

Commercial banks: these banks act as an intermediaries, who have to raise funds through the depositors and lending that raised money to borrowers. This type of bank can become bankrupt in one day if all the depositors come to withdraw their money on the same day, because they have to give time to borrowers to refund, unlike the depositors. There are only two types of these banks- public sector bank and private sector bank.

Investment banks: these types of banks help individuals, companies and government in raising capital by underwriting or act as the client’s agent in issuance of securities.

Cooperative banks: they provide cheap credit to their members and governed by province of state cooperative societies act.

Specialized banks: these types of banks provide financial aid to the industries, heavy projects and foreign trades. The banks that fall under this category are industrial banks, development banks and foreign exchange banks.

Central banks: these are the banks which implements monetary policy, issue paper money, acting as a banker to government and other banks and regulating the bank industry. One of the best example of this type of bank is Reserve Bank of India.

Challenges for the modern banks

Though banking is a very large sector and consists of big names like San Francisco Banking system, but like every other sector they also have tough challenges in front of them, few of them are: 1.Banks are still not making enough return on investments, that the shareholders require. 2. Many banks are not able to deliver that kind of experience that people are expecting especially in the field of technology. 3. The growth of financial technology companies has become a very big challenge for banks because not only they provide better technology but also are more adaptable than the banking sector. And at last, regulatory requirements are a very huge challenge because due their increasing needs banks spend a big chunk out of their budget on building a system to keep up with the escalating requirements.

Manage through kiosks

While going through your journey, you would have bought many things while just passing on the road, through the window-opening shop. Have you even wondered how much time saving and comfortable the buying of things becomes while just passing by, courtesy to those window-opening shops. Those sort of window-openings are literally termed as kiosks. Kiosks have entered in our life, in almost every kind of field. The kiosks have made many processes of our life easier. One can’t imagine one’s life standing in long queues, waiting for withdrawing or depositing money without ATMs, a sort of kiosks .While going through the malls, you can witness direction guides standing to guide you to your right way. Kiosks can quite easily be observed on the metro stations and shopping complexes. The machines standing and giving your desired commodities in return for money without any person or handler are also a kind of kiosks.

Advantages of kiosks

These kiosks have entered and settled in our life quite easily. Rarely are observed or thought about the working processes of kiosks or the methods of working of kiosks. Kiosks are of various kinds, ranging as much as the kinds of men are found in the nature. The ATMs are the most visible form of kiosk, being used on a wider scale to deposit or withdraw cash. The simplicity and ease it has put in our life can never be underestimated. The internet kiosks are used to provide data access to common people, telekiosks being used as a successor of phone booth, the ticketing kiosks used to generate tickets automatically without having engaged any operator, providing immense ease for the people. The above mentioned contribute a small fraction of the wide range of kiosks.

Advancement in kiosks

After the discovery of kiosks, many advancements have been made in this, the earlier ones being quite simple, both in design and use. At present, many kinds of kiosks have been invented, giving kiosks a wide range of forms and functions. Many companies have been manufacturing kiosk, both for the public use and personal use. However, what Olea Kiosk Designers have to offer is rarely offered by others. Olea Kiosk Designers is a leading company in this sector, having made its name quite a famous one in this field. The company handles all the complexities in the process of kiosk manufacturing itself. It has a large number of employees which handle the manufacturing processes very efficiently and have quite a bit expertise, making them the best in this field of work.

These devices have indeed generated simplicity in our life. Now you don’t need any companion for you. These kiosks are everywhere for you, leading a helping hand.

Technology in the real estate business

Along with the booming of internet marketing and with the increase in the use of technology we became more and more surrounded by all sorts of interesting software solutions, that were able to ease our lives, to make our jobs easier , to improve our productivity or to respond to issues that in the past were impossible to solve.

For instance, imagine what would have meant to sell a property (if you were working as a real estate agent) a couple of years ago. You needed to present some pictures to a potential client, and then that client would have needed to come and see the real estate property, to understand better how are all the rooms and to see a clearer image before buying. But in the present the things have simplified a lot with the existence of virtual tours (that are able to present a more clearer image of the property to a potential buyer) and simplifies a bit the work of the real estate agent.

And the above example is only the tip of the iceberg, as in fact, todays software solutions are able to do much more that explained in the above example, as for instance a virtual tour software that is also showing related content to a certain room, to the material used in the construction, or information related to the size of the rooms.

In fact, it is very easy to understand that technology has changed completely the way we are doing marketing – as the online has brought not only better exposure and targeting, but also a lot of technological enhancements that improve the product and the way we can present, sell, or promote a certain product.

Also – tools like Google Analytics, Adwords, Search console and social media advertising are providing big overall changes to the real estate businesses.