Financial services is a broad industry that encompasses a wide range of businesses that manage money, such as banks and credit unions. They also offer services for people and corporations to save, reinvest, and pay off debt.
The industry is regulated by government agencies. They work to protect consumers, ensure transparency, and keep companies in check.
There are a variety of subsectors within the financial services industry, including insurance and asset management. Each of these has its own specific regulations and laws.
Regulatory bodies and agencies are important to the financial industry, as they help uphold transparency and fair treatment of customers. They are also a source of information for investors and business owners, and they may have a role in determining whether a particular company is reputable or not.
The finance industry is one of the most highly regulated industries in the country, which can make it difficult for newcomers to enter the field. However, it is also a great place for young professionals to gain experience and build a strong career.
Many employers in the financial services industry provide extensive training and encourage their employees to continue their education. This keeps their employees up-to-date on the latest tools and technologies, making it easier to advance within the industry.
The financial services industry is also changing rapidly, as tech becomes more prevalent and widespread. With more than 1.2 billion people around the world now accessing formal financial services, technology has become an essential part of the industry’s success.