Financial business services

Financial business services

The financial services industry is one of the most important sectors of the economy. Large conglomerates dominate this sector, but it also includes a diverse range of smaller companies. According to the finance and development department of the International Monetary Fund (IMF), financial services are the processes by which consumers or businesses acquire financial goods. For example, a payment system provider offers a financial service when it accepts and transfers funds between payers and recipients. This includes accounts settled through credit and debit cards, checks, and electronic funds transfers..