financial-services

Vocabulary Word

Definition

'Financial services' are services provided by businesses in the finance world, like banks, insurance firms, or investment companies. They cover things like loans, money transfer, wealth management, insurance policies and more.

Examples in Different Contexts

Banking services, a key component of 'financial services', include managing deposits, loans, and other basic banking products for individuals and businesses. A bank teller might explain, 'Our bank offers a range of financial services designed to meet your everyday banking needs.'

Practice Scenarios

Tech

Scenario:

Innovations in digital payment systems are transforming the way people transact online.

Response:

True, we should introduce innovative financial services in our platform to enhance the user experience.

Business

Scenario:

Our company needs a robust plan for managing investments and ensuring steady cash flow.

Response:

Agreed, let's consider partnering with a financial services company for better wealth management.