Introduction to financial services 5

THE UGANDA INSTITUTE OF BANKING & FINANCIAL SERVICES

UIBFS

ISO 9001:2008 CERTIFIED

1Introduction to Financial Services


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Types of Financial Institutions and their Respective Roles

Uganda Retail Banks

The Structure of Financial Markets

The Credit Reference Bureau

Trends in Financial Services Industry

Personal Financial Services

MODULE COVERAGE


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A couple of years ago, bankers sat in their offices and waited for whoever wanted the services to come. Largely, the products were few, generic and standardized. No bank that wants to grow can maintain this old fashioned business approach today.


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The more progressive banks have tried to improve on or introduce personal financial services. Among the steps in this direction are the introduction/ refinement of:• Customer information desks in the banking halls, where existing and

potential customers can be guided on how to access different services of the bank

• Appointment of relationship managers or personal bankers for business accounts and some personal accounts

• Moves to target high net worth individuals through preferential/ premier or executive banking facilities which offer more convenience and variety of services for individual willing to pay a fee.

• Creation of business/ executive clubs for account holders who are business people or executives – and availing certain useful, tailored services to them through these clubs


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• Tailored deposit products that focus on defined market segments – like the youth savings accounts for youths, school fees accounts for parents


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1. Internet and mobile phone banking2. Easing of the issue of ATM/ debit cards for easy access to funds on account3. Tailored personal loan products for housing, assets and other personal

expenses4. Offer of remittance services to individuals through agency of money transfer

organizations

Introduction to financial services 5

Business

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