In financial terms, a multiple or Universal bank, as it is also known, is a financial institution that, following the guidelines set by the general banking law, is authorized to carry out all operations carried out by specialized financial entities, for example, commercial banks., investment, mortgage, money market funds, etc. The main objective of this type of banking is to provide under the same figure the services that other financial institutions offer individually., in addition to being able to increase the participation of investment strategies. This banking model has benefited from various aspects such as globalization and the evolution of electronic banking, which has allowed it to widely pluralize the banking offer.
Among the advantages offered by multiple banking are: it makes a wide range of products and services available to the client, It favors economic development, by directing a large amount of resources to long-term loans, allowing the design of instruments of credit with properties and financing needs for each economic activity It encourages efficiency and competitiveness, by reducing costs, not only at the operational level, but also in infrastructure, marketing, human resources and information technology.
Being a multiple bank, institutions can be a good option for users, since people can process all their financial requests in one place, since they can apply for an investment scheme and at the same time request a loan to start their business. deal. By offering users the possibility of saving and investing, commercial banking tries to vary the range of services offered, and in this way achieve greater influence in financial markets.
