Financial services are the processes by which consumers or businesses acquire financial goods such as money, stocks, bonds, loans, commodity assets, real estate and insurance policies.
The wider financial services sector comprises the financial enterprises, such as banks and regulators; the financial markets (bond, equities and currency markets) and their participants; the payment system – cash, cheque and electronic means for payments; and a range of intermediary activities such as credit card issuers, lending institutions, insurance companies and brokers.
Its strength is crucial to the economy of a country. When the financial services sector is strong, it helps the nation grow and creates jobs and prosperity for all. When the financial system fails, however, it can drag a country into recession, causing unemployment and reducing purchasing power.
A career in finance involves working in a wide variety of roles and responsibilities, which can be both challenging and rewarding. It is also one of the few industries in which you can advance from within based on your ability and personality rather than years of experience.
Whether you want to work in a big, established bank or an emerging fintech company, there is a job for you in the field of finance. The industry has a lot of potential for innovation, growth and advancement.
The finance industry is a fast-paced, highly competitive environment that is constantly changing. You will need to be willing to learn new skills and keep up with the latest technology in order to succeed in this field. You will also need to maintain strong personal relationships, as your job is to help people manage their finances.