SIC Code 6021-01 Description (6-Digit)

Banks are financial institutions that provide a range of services to individuals, businesses, and governments. The primary function of banks is to accept deposits from customers and use those funds to make loans and investments. Banks also offer a variety of other services, including checking and savings accounts, credit cards, mortgages, and investment products. Banks play a crucial role in the economy by providing a source of credit and liquidity, facilitating transactions, and managing risk.

Hierarchy Navigation for SIC 6-Digit Code 6021-01

Parent Code (less specific)

6021 - National Commercial Banks

Tools

Core banking systems
Customer relationship management (CRM) software
Loan origination systems
Antimoney laundering (AML) software
Fraud detection and prevention software
Risk management software
Payment processing systems
Mobile banking apps
Online banking platforms
Automated teller machines (ATMs)
Credit scoring models
Data analytics tools
Treasury management systems
Investment management software
Compliance management software
Document management systems
Electronic signature software
Cybersecurity tools
Business intelligence software

Industry Examples of Banks

Retail banking
Investment banking
Commercial banking
Private banking
Wealth management
Asset management
Mortgage banking
Credit unions
Online banks
Islamic banking

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