What is banking, and why is it important to learn about?

Banking is familiar to us all as the industry that provides most of the financial services we rely on for our personal and business needs, which is clearly important to the normal functioning of the economy. However, to understand what banking really does and why it is so important, it’s helpful to look at a more specific definition. According to Federal Reserve Bank of San Francisco : “Banks allocate funds from savers to borrowers in an efficient manner. They provide specialized financial services, which reduce the cost of obtaining information about both savings and borrowing opportunities. These financial services help make the overall economy more efficient.” In other words, when you deposit money you don’t currently need into your savings account, the bank pays you interest to use this money to purchase securities or finance loans to businesses, individuals, or governments that need the money now. By leveraging vast institutional expertise in financial markets, the banking sector plays a centrally important role in the global economy by efficiently reallocating trillions of dollars between billions of savers and borrowers, ranging in scale from credit card bills of a few dollars to billion-dollar corporate mergers. While the banking industry is centuries old, it has seen an incredible amount of change and disruption over the past two decades from innovations in financial technology (or “fintech”) and new financial products. The emergence of cryptocurrencies, peer-to-peer lending, crowdfunding, and microfinance have introduced new ways to provide financial services - and new competitors to traditional banks. And the financial crisis of 2008 exposed new vulnerabilities of our interconnected and accelerated global economy, which is once again being tested by the COVID-19 epidemic. Thus, banking today is not only a massively important industry - it’s also a dynamic one in the midst of unprecedented change.

What kinds of careers can I have with an education in banking?

Career opportunities in banking span a wide range of roles and educational requirements. Bank tellers, for example, typically only have a high school diploma along with on-the-job training. However, these customer service-oriented positions are declining in number as ATM machines and online banking services reduce the need for in-person tellers. In contrast, bank roles requiring a higher level of education continue to grow. Jobs for loan officers, who evaluate and authorize approvals of loan applications for individuals and businesses, are projected to grow 8% between 2018 and 2028 - faster than average - by the Bureau of Labor Statistics . These roles blend analytical skills needed for the underwriting process as well as customer service and sales skills to guide borrowers through the process, and typically require a bachelor’s degree as well as on-the-job training. Financial analyst is another prominent entry-level banking job requiring a bachelor’s degree. These professionals evaluate investment opportunities by doing sector-specific research and financial modeling and make recommendations to banks of ways to profitably put their money to work. Because of the importance of banks in the financial system, these analysts must do rigorous due diligence, and typically have strong skills in math, statistics, and proficiency in software like Excel used to build financial models.

Can I learn about banking through online courses on Coursera?

Yes, absolutely. Coursera offers courses from world-class professors at top-ranked schools like Columbia University and Yale University that can give you a deep understanding of global banking and financial markets. You can also take courses and Specializations to build the skills you need for a career in the rapidly-evolving banking industry, in topics like financial technology, data analysis, business, and computer science. Regardless of your needs, Coursera lets you learn remotely on a flexible schedule that is ideal for working professionals that want to expand their skill set in banking or begin a career in this field. Tuition is also significantly lower than on-campus alternatives, making online learning an especially smart investment in your future.

What skills or experience do I need to already have, before starting to learn banking?

The skills and experience that you might need to already have before starting to learn banking include an interest in money and financial assets, good analytical skills, attention to detail, a strong technology background, and an understanding of institutional finance. As banking continues to grow more digital and online by the day, more banks are looking for people who know how technology is impacting the business of handling money. So it might be helpful to learn computer programming and financial modeling concepts before starting to learn banking. Personality skills that would be useful to have before learning banking could include an ability to handle stress, to work well with others, and have confidence in dealing with retail banking customers.

What kind of people are best suited for work that involves banking?

The kind of people that are best suited for work that involves banking are those who have the ability to learn financial concepts quickly. This is useful in banking for understanding the basic banking fundamentals as well as emerging financial concepts like blockchain, artificial intelligence, and regulatory technology. Because the financial industry thrives on innovation, and elements may change over time, people who are flexible and can adapt to changing environments will also be well-suited for working in banking. A person who has the ability to handle pressure and show resilience in difficult times might also be well suited for work that involves banking.

How do I know if learning banking is right for me?

You might know if learning banking is right for you if you show a passion for numbers, interest rates, financial planning, and other concepts that may seem foreign to many consumers. Having integrity and good judgment, as well as a sharp eye for spotting financial inconsistencies, are also solid personality traits that might convince someone that they're right for banking.

What are the benefits of taking an online Banking course?

Online Banking courses offer a convenient and flexible way to enhance your existing knowledge or learn new Banking skills. With a wide range of Banking classes, you can conveniently learn at your own pace to advance your Banking career skills.

What Banking courses are best for training and upskilling employees or the workforce?

When looking to enhance your workforce's skills in Banking, it's crucial to select a course that aligns with their current abilities and learning objectives. Our Skills Dashboard is an invaluable tool for identifying skill gaps and choosing the most appropriate course for effective upskilling. For a comprehensive understanding of how our courses can benefit your employees, explore the enterprise solutions we offer. Discover more about our tailored programs at Coursera for Business here .

Top Banking Courses - Learn Banking Online

Results for "banking"

Status: Free
Yale University
Financial Markets
Skills you'll gain: Investment Banking, Risk Management, Financial Market, Financial Regulation, Financial Services, Finance, Business Risk Management, Securities (Finance), Financial Policy, Capital Markets, Behavioral Economics, Banking, Corporate Finance, Governance, Insurance, Underwriting, Equities, Derivatives, Mortgage Loans, Decision Making
4.8
Rating, 4.8 out of 5 stars
30K reviews
Beginner · Course · 1 - 3 Months
Corporate Finance Institute
Introduction to Banking
Skills you'll gain: Banking Services, Banking, Financial Analysis, Financial Statements, Retail Banking, Commercial Banking, Financial Services, Balance Sheet, Customer Analysis, Income Statement, Investment Banking, Target Market
4.7
Rating, 4.7 out of 5 stars
29 reviews
Beginner · Course · 1 - 3 Months
Columbia University
Economics of Money and Banking
Skills you'll gain: International Finance, Derivatives, Financial Systems, Balance Sheet, Financial Market, Payment Systems, Capital Markets, Banking, Financial Trading, Economics, Market Liquidity, Financial Regulation, Finance, Credit Risk
4.9
Rating, 4.9 out of 5 stars
1.6K reviews
Mixed · Course · 3 - 6 Months
University of Illinois Urbana-Champaign
Banking and Financial Institutions
Skills you'll gain: Bank Regulations, Financial Systems, Banking, Risk Management, Business Risk Management, Financial Regulation, FinTech, Retail Banking, Financial Services, Commercial Banking, Payment Systems, Finance, Balance Sheet
4.7
Rating, 4.7 out of 5 stars
226 reviews
Intermediate · Course · 1 - 3 Months
University of Illinois Urbana-Champaign
Investment Banking: Financial Analysis and Valuation
Skills you'll gain: Financial Statement Analysis, Investment Banking, Financial Forecasting, Business Valuation, Financial Analysis, Financial Modeling, Mergers & Acquisitions, Income Statement, Balance Sheet, Corporate Finance, Cash Flows, Benchmarking
Build toward a degree
4.5
Rating, 4.5 out of 5 stars
158 reviews
Intermediate · Course · 1 - 3 Months
University of Pennsylvania
Fintech: Foundations & Applications of Financial Technology
Skills you'll gain: FinTech, Portfolio Management, Consumer Lending, Payment Systems, Return On Investment, Blockchain, Cryptography, Credit/Debit Card Processing, Digital Assets, Financial Services, Investments, Lending and Underwriting, Investment Management, Emerging Technologies, Loans, Risk Analysis, Asset Management, Financial Market, Market Analysis, Real Estate
4.6
Rating, 4.6 out of 5 stars
3.7K reviews
Beginner · Specialization · 3 - 6 Months
Status: Free
Coursera Instructor Network
Foundational Banking and Financial Services Skills in India
Skills you'll gain: Banking Services, Banking, Regulatory Compliance, Commercial Banking, Compliance Management, Governance Risk Management and Compliance, Investment Banking, Financial Services, Regulatory Requirements, Bank Regulations, Retail Banking, Operational Efficiency, Compliance Reporting, Financial Sales, Risk Management, Operational Analysis, FinTech, Business Operations, Financial Controls, Investments
4.7
Rating, 4.7 out of 5 stars
6 reviews
Beginner · Course · 1 - 4 Weeks
New York Institute of Finance
Credit Risk Management: Frameworks and Strategies
Skills you'll gain: Credit Risk, Risk Mitigation, Risk Management, Derivatives, Risk Analysis, Business Risk Management, Financial Analysis, Financial Market, Financial Statement Analysis, Portfolio Management, Analysis, Market Data, Corporate Finance, Business Metrics, Market Trend, Cash Flows, Correlation Analysis, Market Analysis, Trend Analysis
4.6
Rating, 4.6 out of 5 stars
341 reviews
Beginner · Course · 1 - 3 Months
University of Michigan
Financial Technology (Fintech) Innovations
Skills you'll gain: Payment Systems, Payment Processing, FinTech, Blockchain, Mobile Banking, Credit/Debit Card Processing, Banking Services, Emerging Technologies, Investment Management, Wealth Management, Asset Management, Investments, Point of Sale, Mobile Security, Banking, Fundraising, Capital Markets, Consumer Lending, Market Dynamics, Digital Assets
4.7
Rating, 4.7 out of 5 stars
2.7K reviews
Beginner · Specialization · 3 - 6 Months
Copenhagen Business School
Digital Transformation in Financial Services
Skills you'll gain: FinTech, Technology Strategies, Payment Systems, Financial Services, Digital Transformation, International Finance, Mobile Banking, Banking, Innovation, Blockchain, Financial Regulations, Business Technologies, Business Transformation, Financial Market, Business Architecture, Competitive Analysis, Analysis, Financial Regulation, Business Strategy, Business Analysis
4.4
Rating, 4.4 out of 5 stars
1.9K reviews
Beginner · Specialization · 3 - 6 Months
Status: Free
Coursera Instructor Network
Regulatory Compliance & Risk Management in Banking in India
Skills you'll gain: Risk Mitigation, Risk Management, Bank Regulations, Risk Analysis, Compliance Management, Banking, Financial Regulations, Credit Risk, Operational Risk, Banking Services, Regulatory Requirements, Commercial Banking, Financial Industry Regulatory Authorities
Intermediate · Course · 1 - 4 Weeks
Status: Free
Knowledge Accelerators
From Excel to Power BI
Skills you'll gain: Power BI, Dashboard, Data Presentation, Data Visualization Software, Interactive Data Visualization, Data Import/Export, Business Intelligence, Microsoft Excel, Data Analysis, Data-Driven Decision-Making, Data Modeling
4.5
Rating, 4.5 out of 5 stars
1.2K reviews
Beginner · Course · 1 - 4 Weeks