Cord blood banking is the process of collecting and storing the blood found in a newborn's umbilical cord and placenta after birth. This blood is rich in stem cells, which can be used in medical treatments for various diseases, including certain cancers and blood disorders. Parents can choose to bank this blood for potential future use. The collected cord blood is processed and stored in a specialized facility, where it can be preserved for many years. Families may opt for private banking, which is for personal use, or public banking, where the cord blood is made available for anyone in need.