Financial services refers to a broad set of products and services that include everything from insurance and money management to payments and digital banking technology. A wide range of stakeholders are involved in the sector, from credit card issuers and processors to legacy banks and emerging challengers.

The financial services industry plays a critical role in the success of many businesses and governments. The strength of the sector and economy is essential to a country’s prosperity, as it helps consumers earn more, boosts their confidence, and increases their purchasing power.

It’s a lucrative industry that pays a high starting salary and offers great career opportunities as you move up the ladder. The field also offers extensive transferable skills that can be used in a variety of fields.

Regulatory agencies are tasked with ensuring that the financial services industry upholds integrity and transparency. They also protect the interests of consumers and ensure that companies are acting responsibly and complying with laws.

The financial services industry has a lot to offer, from the making and management of money to helping people get out of debt and save for their futures. It’s a broad industry that encompasses thousands of depository institutions, providers of investment products, insurance companies and other credit and financing organizations. It also includes the providers of crucial financial utilities such as stock exchanges, clearing houses and derivative and commodity exchanges.