Financial services are essentially the commercial financial services offered by the financial sector, which includes a wide assortment of financial organizations that deal with money, such as banks, credit card companies, credit unions and mortgage companies. Financial services include money market, interest rate, bridge loan, gilt buyer, merchant cash advance, securities, trade credit, treasury bills, and treasury notes. Some organizations are also categorized as investment companies and practice various financial products. A company providing financial services usually provides advice on the appropriate investments to a customer. Here are more details on financial services.
In United States, the Banking industry is divided into four main sectors: Savings & Loan, Commercial, Service Industries and Travelers' Bank. Savings & Loans branches of banks. They are usually involved in the day-to-day money transactions such as loans, mortgages, and savings accounts. On the other hand, Commercial Banks are financial institutions that provide loans for business purposes. These banks also undertake the corporate banking and trading businesses. Finally, Travelers' Bank is an example of a bank whose products are mainly directed at travelers and cruise lines.
As we can see, the Banking sector is very broad. However, most of the banks today offer only a few financial services. For example, there are some banks that offer checking accounts, savings account, CD's (cumulative deposit), money market, and so forth. If you want to take a bank loan you have two options - one is to go for a checking account and another is to go for savings account.
Moreover, the banking sector is split into two more parts. The first part is known as Business Finance and it refers to the operational activities carried out to achieve the financial objectives. It consists of executive management, budgeting, financing, and risk management. Financial services provided in the business finance segment includes banking investment banking, commercial real estate financing, merchant financing, and merchant cash advance. Therefore, finance provides financial solutions for all the core functions of the economy.
Second part of the financial services sector is called Consumer Financial Services. This is the section of the banking sector, which provides financial services related to consumer finance. The consumer finance includes insurance, mortgage, individual savings, credit, and shopping. In fact, these days, there are almost all kinds of financial goods provided by financial service companies. Some examples are home equity loans, education loans, auto loans, and so on. Check out the best of these services on this company.
Financial service companies often cover costs of larger expenses such as travel, entertainment, and other expenditures that are not anticipated until the bill comes. Examples of such large expenses include purchases at the local supermarket or at the mall. Many companies even cover unexpected medical expenses. Thus, financial services covers many kinds of large expenditures and is therefore a vital segment of the economy. You can read more on financial regulation here: https://en.wikipedia.org/wiki/Financial_regulation.