Financial Services is a broad term that refers to a wide range of services provided by the finance industry to manage money for individuals, businesses, and governments. Here’s a breakdown of what falls under financial services:
Main Categories of Financial Service
Banking Services
Retail Banking Services to individuals (e.g., savings and checking accounts, personal loans, credit cards)
Commercial Banking Services to businesses (e.g., business loans, commercial accounts)
Investment Banking Assists companies in raising capital (e.g., IPOs, mergers & acquisitions)
Investment Services
Asset Management: Managing investments for clients, including portfolios and mutual funds
Wealth Management: Tailored financial planning for high-net-worth individuals
Brokerage Services: Buying and selling securities on behalf of clients
Insurance Services
Life Insurance
Health Insurance
Property and Casualty Insurance
Reinsurance (insurance for insurers)
Fintech Services
Mobile Payments and Digital Wallets (e.g., Apple Pay, PayPal)
