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 banking services, 'private banking' distinguishes itself by offering high levels of service, privacy, and customized financial products to its clientele. A bank manager might describe, 'Private banking is about creating a relationship-based banking experience, prioritizing the financial goals and privacy of our clients.'

Practice Scenarios

Marketing

Scenario:

Our bank seeks to attract a more affluent customer base. How can we effectively communicate the unique benefits of our banking services to a wealthier audience?

Response:

We could emphasize the exclusivity and personalized investment opportunities offered by our private banking services in our marketing campaigns.

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.