The finance industry provides a wide range of economic services. Some of these services include credit unions, banks, and investment companies. Other financial services include insurance companies and discount brokerages. These financial services provide a range of products and services that are beneficial to people in many different ways. The purpose of a financial services firm is to make life easier for their customers.

Finance

The term financial services refers to a wide range of businesses in the finance industry. It includes institutions such as banks and credit-card companies.

Investment banks

Investment banks provide financial services for companies and other organizations that need to raise capital. Their services can range from public offerings of company stock to debt financing and mergers and acquisitions. These firms are typically highly specialized and have access to databases and financial data that allow them to make sound decisions for their clients.

Credit unions

Credit unions offer a range of financial services, including consumer loans and business loans. Consumer loans are divided into two categories: mortgage and non-mortgage loans. The majority of consumer loans are classified as non-mortgage loans. Non-mortgage loans include personal loans, credit card loans, vehicle loans, and personal debt consolidation loans. Credit unions also offer holiday promotional loans.

Discount brokerages

Discount brokerages provide trading services for a low cost. However, unlike other brokerages, they don’t offer research or consulting services. This makes them a great alternative to traditional brokers.

Currency exchange

Currency exchange is a financial service that allows businesses to buy and sell currencies. Companies need to exchange currencies so that they can pay for goods and services. For example, an American wine importer wants to pay French wine makers in euros, Australian wine suppliers in dollars, and Chilean wine vineyards in pesos. Currency exchange allows them to do this and reduces their risk of foreign exchange rate volatility.