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Banking History
In the ancient temples of Egypt, Babylonia and Greece, the gold and silver deposited for safekeeping were loaned at high interest rates, and was a simple form of banking. The Greeks, Romans and Byzantines developed private banking to a certain extent. In the Medieval times, Jews and Levantines dominated banking. With the growth of industry and trade, banks developed rapidly throughout the 18th and 19th centuries. Different countries evolved different forms of banking individual to its economic and social life. The ancestors of the modern banks were often chartered for a specific purpose. The Bank of Venice (1171) and the Bank of England (1694) were chartered regarding loans to the government while the Bank of Amsterdam (1609) was chartered to receive deposits of gold and silver.
The Bank of Barcelona in Spain is considered to be the first bank to offer most of the basic banking operations that we are familiar with. Merchants founded it in 1401 and this bank held deposits, exchanged currency, and carried out lending operations. The bank check is believed to have introduced by this bank. The institutions that laid the foundation for modern banks of deposit and transaction were the Bank of Amsterdam (1609), the Bank of Venice (1587), and the Bank of Hamburg (1619). A committee of city officials managed each of these banks.
Powerful statesmen and wealthy private bankers who controlled the banking industry for over 300 years line Europe's banking history.The Medici family in Florence and the Fuggers in Germany are most popular. The Rothschild family, founded by a German financier Mayer Amschel Rothschild, was perhaps the most influential bankers in all of Europe and in the world in the 19th century.
Mortgage Banking Career
Success in a banking careers depends to a great deal on commitment and talent. You don't need experience in banking or financial services to enter this industry. Product training, in-house technology training, skill set development and strong rotational policies are offered by the majority institutions. Career in banking spans a wide arena. Mortgage banking career, investment banking career, etc, are but just few of the areas to look into. Banks operate in one of the most competitive environments in the world, offering financial and advisory information to clients. The American School of Mortgage Banking can teach you all there is to know about mortgage banking career. They have several courses that teach you all aspects of mortgage banking. In mortgage banking career the priority is towards functions such as loan origination, loan processing, underwriting, loan closing, analyzing secondary market, study of prevailing real estate scenario, quality control in mortgage lending, etc. The major roles in an investment banking career could be product analysis, financial control, equity and fund analysis, risk management, projects, operational risk review, and corporate finance. Openings in banks are available at various levels, and banks expect graduate trainees to enter straight from university. Graduate trainees are expected to be highly motivated and make clear and informed decisions.
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