Currently, the retail segment of the banking business is one of the most important areas of commercial banks functioning. It is characterized by high yield, rather rapid growth of retail portfolios, active introduction of innovative products and services, focus on meeting the needs of customers and enhancing their service quality, improving the culture of financial product consumption of the public, active use of marketing campaigns, partnerships, loyalty and discount programs, and representation of banks on the Internet and in social media. Each bank individually determines its behavior and development strategy in the retail banking market, the customers it will serve, and the range of products and services it will implement and promote. The article deals with the definition of the "retail banking business" term in terms of the process approach. The authors emphasize that there may not be a single approach to the definition of the "retail banking" concept in the banking sector. The definition of retail banking is unique for each bank and depends only on bank's specifics purposes of its mission in the market. However, customer service would always be the basis of the phenomenon. At present, the retail banking market is ready to offer a diverse range of products and services. There are many different classifications of retail banking services in training materials on banking, and each classification depends on its purpose and approach to its implementation. The article presents the most detailed classification of products and services of the retail banking business.
Keywords: retail banking, business process, bank services
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