Financial services are the economic services provided by the finance industry, which encompasses a broad range of business sector companies. They include credit unions, banks, credit-card companies, investment funds, insurance and more. Financial services firms are powerful economic drivers and significant consumers of a wide range of other business products and services. The success of financial services firms can also have a direct impact on other industries’ practices, standards and operations.
The main purpose of financial services is to provide money management and investment opportunities that allow people to save and invest. These savings are then used to support businesses and consumers. These investments lead to greater economic prosperity and growth, which is beneficial for everyone involved, including the individuals who save and invest their money with financial institutions.
These institutions are often regulated by government bodies in order to ensure fairness and security for all of their customers. They may also be required to report on their performance on a regular basis, which helps keep investors informed and prevents companies from taking advantage of the consumer.
The variety of jobs within this field makes it easy for people to find a role that fits their skills and interests. Some roles require a degree, while others can be entered through an internship or by applying for entry-level positions and developing the necessary skills over time.