Financial services is an important sector that facilitates the movement of money from savers to borrowers and vice versa. Without financial services, savers would have trouble finding lenders and borrowers could have difficulty accessing capital to fund their projects.
A strong financial services industry can help improve a nation’s economy, while a failing system can drag it down. For this reason, governments often regulate and supervise financial service providers.
Banking
Banks handle deposits and issue loans to consumers and small businesses. They earn revenue from fees, commissions, and other methods like the spread on interest rates between loans and deposits. Retail banking serves consumers, while commercial and investment banks deal with small businesses and corporations.
Insurance
Insurance is a type of financial service that protects people from risks such as accidents, natural disasters, and illness. It also helps with financing large purchases such as homes and cars.
Investments
Assets such as stocks, bonds, commodities, real estate, and insurance policies are financial goods that provide investors with a return on their investments. Financial services companies that offer these products and services include brokers, asset managers, and investment banks.
Finance
A financial services career offers a range of opportunities for growth and advancement. Whether you want to work in a high-stakes environment of institutional dealing, build relationships with clients, or support others, financial services has the potential for a fulfilling and rewarding career.