The financial services industry provides products and services that support the economic activities of individuals, businesses and governments. These include banking, insurance and other financial intermediation. Financial services are an essential part of the economy. They help people manage their money, make investments and save for the future. They also help companies and governments raise the capital they need to grow and fulfill their objectives.
The global financial services sector includes institutions like central banks; depository organizations, such as commercial and savings banks; credit unions; building societies or mortgage companies; and credit-card issuers and networks (like Visa and Mastercard). It also includes brokerage firms that buy and sell securities on behalf of clients and provide advice to investors, as well as private equity funds, venture capital providers and angel investors. In addition, the industry contains payment service providers, such as banks that provide cashier’s checks and wire transfer services, and brokers who offer specialized services to high-net-worth clients.
Financial services are an integral part of a country’s economy. When the sector is healthy, it supports consumer confidence and spending. But when it falters, it can pull the rest of the economy down with it. To remain competitive, financial services must continually innovate and offer new solutions to meet consumers’ needs. And to do that, they need the right technology. That’s why we built Salesforce Financial Services Cloud — a comprehensive set of tools and features designed with advisors’ needs in mind. It comes out-of-the-box with all of the core Sales Cloud platform features, plus an enhanced set of tools for client engagement.