Financial services is a broad term that encompasses a variety of businesses and individuals that provide services to the general public. These services include lending, deposit-taking, investing, insurance, and more.
Banks, brokers and mortgage lenders are all parts of the financial services industry. These companies make money by earning interest on deposits and by lending money to people who need it.
The most common type of service is banking, where banks pool money from customers and then lend it to others. This helps people get loans to purchase goods and pay for expenses.
Depending on the needs of the consumer, the bank may offer various types of financial services such as credit cards, hiring purchase finance and other products. These services make it easier for consumers to improve their standard of living by purchasing items that are essential or luxurious, while helping them save for the future.
Investment services are a type of financial service that doesn’t deal with customer deposits, but instead assists clients in raising capital and reinvesting their funds into the stock market. These organizations help small business owners, large corporations, nonprofits and government agencies raise funds.
The financial services industry can be a great place to find a job that fits your personal goals and career plans. Many companies in the industry are very invested in their employees’ careers and will encourage them to continue their education to stay on top of the latest tools in the field.