This paper will look at some of the ways financial institutions are expanding, and at the same time, helping low-income entrepreneurs with capital to do business. The need to make financial institutions capable of handling more than one service is growing with each passing year. …
Download full paperFile format: .doc, available for editing
Poor entrepreneurs willing to pursue business ventures offer the assurance, which financial institutions are looking for in order to invest. They, therefore, choose to offer more services to low-income earners/entrepreneurs with the aim of helping them expand.
Low-income earners may demand services in financial institutions that are not offered to other investors. This presents a problem to the financial institution if they are not willing to give them what they need. It fosters unhealthy relations between the concerned parties, hence; lack of understanding or loyalty among either party (Ledgerwood 71). Some microfinance approaches should be addressed in order to advocate for the coexistence of all parties involved.
Some products financial institutions offer are for the benefit of those investing in the institution. An example of these services and products is saving. Voluntary saving is advocated for in these institutions. This is a requirement for all those who want to borrow money from the financial institution. The growth of financial institutions depends on how well those investing return borrowed money, while investing with the institution.
In conclusion, financial services and products offered in financial institutions must cater for the desires of the poor entrepreneurs. The guarantee that they will always come back as satisfied clients is always present. It is the new way to go about financing. Many institutions are capitalising on this opportunity, as well as the low-income entrepreneurs trying to make a living through these means.
Cite this document
(“Financial Services and Products Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from https://studentshare.org/finance-accounting/1604165-financial-services-and-products
(Financial Services and Products Essay Example | Topics and Well Written Essays - 250 Words)
“Financial Services and Products Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/finance-accounting/1604165-financial-services-and-products.
Even though the economic situation is under control in UK, the people blame financial institutions for the destruction of society. Regardless of the current situation, the financial service sector in UK has a promising future due to which most of the organizations are trying to establish their base at UK with an aim to accomplish their goals and objectives.
The assists their clients to manage the risk and return related to their wealth, thus, optimizing the value of their money. There are different kinds of advisors, tied, multi-tied and independent depending upon the number of firms they provide advises on.
The underlying factors of the market that determines the value of derivative contracts may be currency conversion rates, interest rates, equity prices, commodity prices, etc. The derivative contracts may take the form of options, swaps, futures, forwards, etc.
Management of Personal financial services explores the strong correlation between customer loyalty and profitability of the bank. The deregulation and emergence of new banking technology in the financial services industry have also impacted the purchase behavior of the customers, as a result banking companies rely on the strength of the financial services that help the banks to make tailor-made financial products for customized customer requirements.
As for the term financial service, Smith et al. (2012) stated that a person or an institution provides financial services if it deals in financial products, provide advices pertaining to financial products, sell and market financial products, and provide depository or custodial services.
A financial system functions as an intermediary and facilitates the low of funds from the areas of surplus to the areas of deficit. A financial system is a composition of carious institutions, markets, regulations and laws, practices, money managers, analysts, transactions and claims and liabilities.
The main intention of the study is to develop an understanding of the concepts of management in the banking and finance industry in general and how the established theories and principles are applied to the industry and some of the organizations. During the study, an effort will be made to observe the general working at some banks and financial institutions to seek answers to the following key objectives.
s largely on account of the reduced market entry barriers and a positive swing in demand for investment advice from consumers who need professional guidance in choosing from a wide range of financial products available in the market. The role of financial advisors in such cases
The author states that the role of the International Financial Managers is extremely crucial in the progress of the HSBC. The IFMs of the HSBC developed a portfolio of international banking and management skills through a large number of challenging projects and assignments that were related to the developed and emerging markets in 87 countries.
2 Pages(500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Financial Services and Products"
with a personal 20% discount.