Financial services is a broad term that refers to a wide range of industries, including banks, brokers and mortgage lenders. It also includes insurance companies, securities traders, investors, Wall Street and more.
Careers in financial services can be varied and rewarding. The industry pays well and is highly specialized, so it’s often possible to make big strides early in your career.
Regulatory bodies are key to the success of this industry, as they oversee different financial institutions and ensure transparency in their operations. This can help keep consumers safe while reducing costs.
The financial services sector is a crucial part of any economy, ensuring that companies can raise capital to grow and develop their businesses. It’s also a critical tool for the government, as it helps countries to raise funds and promote trade in both domestic and foreign markets.
Economic benefits from financial services are widespread and include increased production, employment, income and demand. It’s also a key tool for promoting growth and development in backward regions that are otherwise unable to expand their economies.
Financial services is one of the most important industries in the world, affecting every person and business around the globe. The industry plays a major role in many of the world’s most important economic activities, including finance, health, energy, transportation and trade.
Aside from being a key economic force, financial services also helps deliver on the United Nations Sustainable Development Goal of financial inclusion. Digital financial services are helping millions of people worldwide to have access to bank accounts and other forms of formal credit, allowing them to become more financially empowered.