Distinguish between the following: Corporate Financial Services and Personal Financial Services.

Corporate Financial Services The financial needs of the Corporate/Commercial sectors are varied, complex and large. Therefore it puts a great demand on financial industry's expertise in effectively meeting them. Their needs may include: The need for money in short term, medium term and long term; The need to earn a return on money held in short term, medium term and long term; The need to move money domestically as well as internationally; The need to manage trading as well as non-trading risks; The need for information; The need for advice or expertise. Personal Financial Services The personal financial services industry offers three basic, generic products and service benefits to individual savers, borrowers and investors. These are: Transactional products and services. Wealth accumulation products and services. Products and services generating financial security. Transactional products and services range from bank cheque-book accounts through standing orders, direct debits and automatic teller machine (ATM) facilities to the provision of branded credit cards offering the facility of payment of housing and consumer loan. Wealth accumulation products and services revolve around savings which are represented by a diverse range of savings and deposit accounts, units, investment in corporate securities etc. Generation of financial security centre around pension/provident funds, insurance etc.