In this article
Objective
Choose a predefined classification for your services to help group them in your analytics. These 'Service Classifications' will be used in the future for benchmarking purposes, as well as industry comparisons. This feature is automatically enabled for all Coconut customers.
Assigning a service classification
To assign a classification to a service:
From the navigation menu, click Services
Find the desired service and click More
Under the Classification dropdown, select the desired classification
Using the classification dropdown while editing a service
Service classification descriptions
This is a list of all service classifications in Coconut and their suggested descriptions.
Classification | Description |
Account Services | These services are focused on opening, managing, and maintaining accounts |
Business & Commercial Services | Tailored for businesses, these services cater to the financial needs of commercial entities, offering solutions such as corporate accounts, business credit cards, and business loans |
Community & Nonprofit Services | Addressing social responsibility, this classification includes services aimed at supporting community development and nonprofit organizations |
Education & Resources | Focused on empowering customers with knowledge, this classification includes educational programs, resources, and tools to enhance financial literacy and understanding |
Financial Planning & Advisory | Providing comprehensive financial guidance, this classification includes services that help clients plan for their future, manage their assets, and make informed financial decisions |
General Banking | Encompassing a broad spectrum of basic banking services, this classification includes everyday transactions like deposits, withdrawals, and routine financial activities |
Insurance Services | This category includes services related to insurance policies |
International & Foreign Services | Tailored for global financial needs, this category involves services related to international transactions and currency exchange |
Investment & Wealth Management | Geared towards growing and preserving wealth, services here involve investment management and wealth-building strategies to help clients achieve their financial goals |
Lending & Credit | Services in this category revolve around providing financial assistance through loans, credit cards, or lines of credit |
New Customer Enrolment | Focused on onboarding new clients, this category includes services related to account setup, orientation, and assistance for customers who are new to the company |
Online & Digital Services | This classification includes services related to online banking and digital transactions |
Other | This classification encompasses miscellaneous services that don't fall directly into the other categories, possibly including unique offerings tailored to specific customer needs |
Payment & Transfer Services | This classification involves transactions such as payment processing and wire transfers |
Real Estate & Mortgage Services | Centered around property transactions, this classification provides services related to real estate transactions, mortgages, and home financing |
Retirement & Pension Services | Centered on retirement planning, this category offers services such as opening and managing retirement accounts |
Risk Management & Fraud Protection | Dedicated to resolving instances of fraud and safeguarding customers, services here involve fraud disputes and protective measures to detect and prevent fraud |
Specialty Services | These are niche services designed to address specific financial needs. Examples include notary services, power of attorney, and estate planning |