Insurance is a subset of financial services that protects individuals from the risks associated with life, property and liability. Insurance services are offered to protect individuals and businesses against injury and death, property loss and liability, and lawsuits. There are several different types of insurance agents, including brokers, underwriters and reinsurers. Insurance agents, brokers and reinsurers shop around for insurance policies for clients, and underwriters evaluate the risk of insuring clients. Reinsurers also help insurers deal with catastrophic losses.
Investment banking is a division of finance that focuses on the management of financial transactions between companies. The various types of deals include mergers and acquisitions, public offerings, and structured finance. Some investment banks specialize in specific industries.
Credit card networks
Credit card networks are the companies that facilitate transactions between consumers and merchants. These networks have a variety of roles, but many of them are not issuers of credit. The primary role of a credit card network is to manage the payments between merchants and cardholders.
Personal finance management
Personal finance is a broad topic that encompasses a variety of career opportunities. If you’re passionate about personal finance, you may want to look into becoming a part of the industry. Career opportunities include investment banking, private equity, corporate development, and more.
Commercial banks provide a variety of financial services to customers, including loans and deposits. The banks earn profits through interest on these loans and various fees. Many banks also have services like ATMs and automated teller machines, which you can use around the clock.
Credit unions are cooperative financial institutions that provide traditional banking services. Members become partial owners of the credit union, have equal voting rights, and participate in union affairs. Credit unions are exempt from corporate income tax, but they must generate earnings to support daily operations. This lowers their operating margins, compared to banks.