Financial services are the heart of a country’s economy and allow capital and liquidity to flow freely in the marketplace. They typically include a range of activities from banking, insurance and credit to asset management and payments. The sector includes accountants, tax filing services, and a range of other support services including debt resolution, global payment providers such as Visa and MasterCard, and financial market utilities that enable stock, derivative and commodity exchanges.

Having access to affordable financial services allows people to put money to productive use. Instead of stashing cash under the mattress, they can lend to a startup or buy a house. These services also help people save for future expenses, provide health and property insurance coverage, and reduce risk through diversification.

The most important function of financial services is ensuring that the financial system provides an efficient flow of funds. This means keeping interest rates low, fostering trust between consumers and providers, and allowing new businesses to enter the industry without having to compete with established players.

As a result of these benefits, the industry is usually well-regulated. However, it is also dynamic and constantly changing to meet the needs of consumers and businesses alike. It’s therefore important to keep researching and comparing options, so you can find the right fit for your needs. Then you can focus on growing your career in one of the most promising sectors of the economy.