Careers in Financial Services
Financial services is a large industry with many different career paths. The field covers everything from insurance and money management to payments and digital banking technology. It includes credit card services, mortgage lenders, personal loan companies and consumer finance firms. It also encompasses global payment service providers, debt resolution services and the exchanges that facilitate stock, derivative and commodity trades.
It’s important for banks to understand their customers so they can offer them the right products at the right time. In order to do that, they must be able to anticipate the life events their customers will go through, like getting married or buying a house. To help them predict these milestones, they can look at a variety of indicators like customer engagement with other products or their spending patterns.
In addition, if they want to compete with new digital challengers, they need to offer more and better digital products. For example, they can develop AI-powered apps like Cleo to provide a more personalized financial advice experience. Or they can make their existing products more accessible by introducing them to new channels, such as chatbots or social media platforms.
Careers in the financial sector are highly rewarded, and people who work in this industry seem to be quite satisfied with their jobs. In fact, most professionals rate their job satisfaction between 9.6 and 10. This is mainly due to the fact that they can easily advance in their careers, even without a college degree. This is because many entry-level positions offer on-the-job training opportunities to build skills. In addition, these positions are available globally, so professionals can transfer to different locations without losing their job prospects.