Financial services include a wide range of economic services provided by the finance industry. These businesses include banks, credit-card companies, and credit unions. Financial services are essential to society because they provide people with the opportunity to purchase goods and services they need. For this reason, it is important to understand how these companies work.
Financial services promote economic growth. In addition to providing consumers with consumer goods, they also promote investment, production, and savings. This helps people and businesses make long-term plans and prepare for unexpected expenses. Additionally, people who use these services are more likely to use other financial services, including insurance and credit. In addition, the ongoing COVID-19 crisis has reinforced the need for increased digital financial inclusion, which is a cost-saving means of reaching economically excluded populations.
The financial services industry provides jobs to over eight million people in the United States. And it is projected to grow by eight percent by 2030. Because of the wide variety of job roles available, it can be difficult to know how to break into the field. Here’s a brief explanation of some of the key roles and responsibilities.
Financial services include banks, credit unions, and financial advisors. They also include insurance companies and tax and accounting firms.