private-banking

Vocabulary Word

Definition

'Private banking' is a customized banking service specially created for high-net-worth individuals. You get more personal attention and access to special investment opportunities.

Examples in Different Contexts

In wealth management, 'private banking' offers personalized financial services and advice to high-net-worth individuals. A private banker might state, 'Our private banking services include tailored investment strategies, estate planning, and exclusive banking solutions.'

Practice Scenarios

Design

Scenario:

The user interface for our high-net-worth clients needs to echo exclusivity and personalized functionality. What kind of features should we prioritize?

Response:

We should definitely be looking to design an interface exclusively for our private banking clients, with personalized features and high accessibility.

Tech

Scenario:

Our company's recent success and increased liquidity could warrant enhanced financial planning. How can we manage our growth effectively?

Response:

You're right. To efficiently handle our financial growth, I think switching to a private banking service would be worthwhile.