In financial terms, the multiple or universal bank, as it is also known, is the financial institution that, in accordance with the guidelines established by the general banking legislation, is authorized to carry out all the operations carried out by specialized financial entities, for example , commercial. banks, investments, mortgages, money market funds, etc.
The main objective of this banking modality is to provide, under the same number, the services that other financial institutions provide individually. , in addition to being able to increase the participation of investment strategies. This banking model benefited from various aspects such as globalization and the evolution of electronic banking, which 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 allocating a large amount of resources to long-term loans, it allows the design of real estate credit instruments and financing for each economic activity.
It stimulates efficiency and competitiveness, 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 will be able to process all their financial requests in one place, since they will be able to request an investment scheme and at the same time request a loan to start their business.
By offering users the possibility of saving and investing, commercial banking seeks to vary the range of services offered and, in this way, achieve greater influence in the financial markets.
