The financial services industry encompasses a wide range of economic services that facilitate the movement and allocation of funds, promote investment, and manage risk. This sector includes banks, credit-card companies, insurance providers, and other credit and financing organizations, as well as critical financial market utilities.
Some of the most widely recognized financial services are banking services (deposit-taking, lending, and investing), mortgage banking, credit-card companies, and investment firms. These companies provide a variety of products and services to individuals, businesses, and governments. They help consumers make informed decisions about their money, invest wisely, and avoid overspending.
Other services within this industry include debt resolution (assisting in paying off or negotiating settlements for unmanageable debt), credit rating agencies, global payment networks such as Visa and Mastercard, and commodity and stock exchanges. Additionally, the financial services industry includes securities research, prime brokerage, and asset management services.
As a rapidly growing and highly competitive industry, financial services organizations face increasing business, regulatory, and security challenges. To meet these challenges, they need a network strategy that enables them to become more customer-oriented. This means leveraging Salesforce Einstein, the powerful artificial intelligence solution, to predict customer needs and deliver real-time answers across all channels.
To work in the financial services industry, you need to have a mix of hard and soft skills. Hard skills include math and data analysis. You also need to have excellent communication and collaboration skills, especially if you’re working with people in the field. In addition, many jobs in the financial services require working with sensitive information.