What Are Financial Services?

Financial services

As an employee of the financial services industry, you’ll work with banks, credit card companies and investment agencies. Your job is to provide them with the technology and digital banking services they need. You can expect a competitive salary and plenty of opportunities to grow your career within the company you’re working for.

What Are Financial Services?

In short, financial services are any kind of service related to money and how it moves around the economy. This includes things like loans, credit cards, and stock market trading. It also includes insurance, wealth management and retirement planning.

Banks are one of the biggest providers of financial services. They offer deposit products such as checking and savings accounts, which earn interest. Then they lend those funds to borrowers for their personal or business needs. Various kinds of loans and credit lines are available, including mortgages, auto loans, business or personal loans. Investment firms and brokerage companies are also part of the financial services industry. They provide consumers with investments in stocks, bonds, mutual funds and other assets.

It’s important to remember that while it may seem as though the different sectors of the financial services industry are separate from each other, they’re not. The lines are blurring between them thanks to fast advancements in technology. This means that, for example, a bank can now offer the same types of services as an investment firm. And the lines between a bank and a credit card company are becoming increasingly blurry as well.