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The financial sector includes any firm, government enterprise or nonprofit that facilities commercial transactions or the investment of capital. This is a critical element of the economy that is required for all other economic activity. For example, payment services are required for commercial transactions and investment services are required to put capital to work to create value. The following are common examples of the financial sector.
Clearinghouses | Commercial Banks | Credit Card Companies | Credit Unions | Currency Exchange Services | Custodian Banks | Family Offices | Finance Companies | Financial Cooperatives | Financial Markets | Fintech | Hedge Funds | Holding Companies | Insurance Brokers | Insurance Companies | Insurance Underwriters | Investment Banks | Investment Funds | Investment Management | Investment Trusts | Mortgage Companies | Mutual Funds | Payment Processors | Pension Funds | Private Banking | Private Equity | Rating & Credit Agencies | Real Estate Companies | Reinsurance | Retail Banks | State Banks | Stockbrokers | Venture Capital | Wholesale Banking |
Clearinghouses help to clear financial transactions such as stock trades and act as a middleman between buyer and seller.Commercial bank is a broad term for banks that provide bank accounts and other products such as loans.Custodian banks hold and administer securities for their owners. This allows securities to be traded without the complexity of taking possession and managing them.Family offices manage the wealth of a family. Fintech refers to firms that challenge the status quo of the banking industry in some way with technology. Investment banks provide banking to large entities such as governments, businesses and wealthy families.Reinsurance is an agreement that allows insurance companies to transfer risk to third parties.Retail banks are commercial banks that serve individuals and small business.State banks are commercial banks that are owned by a nation or region.Wholesale banks provide services to other banks and financial companies. For example, a bank that lends other banks money or underwrites their insurance products.
Economic Sector
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