Financial services encompass a wide range of offerings designed to address various needs, from protection against losses to the management of wealth. Insurance policies provide a safety net by offering financial reimbursement for specified losses.
Offer convenience and eliminate the need to carry cash. Debit cards allow to spend money by drawing on funds they have deposited at the bank while Credit cards allow to borrow money from the card issuer up to a certain limit.
Wealth management is an investment advisory service that combines other financial services to address the needs of affluent clients.
Financial institution licensed to receive deposits and make loans. There are different kinds of banks and each one provides several financial services.
An account maintained by a bank or a building society in which a depositor's money is kept.
A loan is money given to another party in exchange for future repayment of the loan value or principal amount, along with interest or finance charges.
Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
Banks
TYPES OF SERVICES
Wealth Management
Online banking
Education Planning
Insurance Planning
Investment Planning
Retirement Planning
Cards
Credit Card
Debit Card
Accounts
Money Market
Non-profit organization
Business Savings Account
Business Checking Account
Savings Account
Checking Account
Loan
Vehicle Loans
Business loans
Home loans
Student loan
Personal loan
Insure
Auto Insurance
AD&D Insurance
Homeowners Insurance
Life Insurance
TYPES OF BANKS
Internet Bank
An internet bank — also known as a virtual bank, an online bank, or a web bank — is a bank that lacks any physical branch locations and exists only on the internet.
Brick and Mortar
Refers to a traditional street-side business that offers products and services to its customers face-to-face in an office or store that the business owns or rents. The local grocery store and the corner bank are examples of brick-and-mortar companies. Brick-and-mortar businesses have found it difficult to compete with mostly web-based businesses
Building Society
Is a type of financial institution that provides banking and other financial services to its members. These societies offer mortgages and demand-deposit accounts.
Savings and Loan Association
Referred to as S&Ls, provide many of the same services to customers as commercial banks, including deposits, loans, mortgages, checks, and debit cards.However, S&Ls place a stronger emphasis on residential mortgages.
Mortgage Companies
Is a firm engaged in the business of originating and/or funding mortgages for residential or commercial property.
Investment Bank
Is a financial intermediary that performs a variety of services. Most Investment banks specialize in large and complex financial transactions, such as underwriting, acting as an intermediary between a securities issuer and the investing public.
Commercial Bank
Is a type of financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
Central Bank
Is a financial institution given privileged control over the production and distribution of money and credit for a nation or a group of nations.
Credit Union
Is a type of financial cooperative that provides traditional banking services.
