Difference between banking and insurance?
A Bank is an organization that provides banking services like bank accounts, credit cards, loans etc. to the customers.
Whereas, an Insurance Company provides Insurance. The main difference between a bank and an insurance company is the fact that it is not a bank. It provides insurance services to the citizens of India and it does not provide services like bank accounts, credit cards etc. to customers
insurance and banking function on two completely different levels. Put simply, banking is a dependable and constant institution where, for the most part, consumers know what they're getting. Insurance, on the other hand, is based on a number of subjective variables that makes it a different experience for each separate individual. Banking is different in the fundamental sense that they serve all their customers the same based on their finances and not their lifestyle or…
The difference between retail and wholesale banking is much like the difference between retail and wholesale food procurement. The methods are very similar however, it is necessary to be well educated in the industry to insure getting the best product at the best price. Retail is for consumers, wholesale is for the industry.
Wholesale banking is the transaction of business between a bank and other financial institutions, large corporations, government agencies which usually involve high value transactions, meanwhile merchant banking is involved in long term loan and underwriting for corporation which may include international transaction