Article by Earl Thorsen
Financial services, as the name implies, involve services offered that deal with money matters. Anything that has to do with finances, its transfer, investment, insurance, savings, deposits, withdrawal, loans and the like, are financial services. For the uninitiated, financial services are usually synonymous with banks.
A financial service company would be hard to find in the early days, especially in far-flung areas. Therefore, personal finance was handled by the people in ways that were available to them. People then either hid their cash in shoe boxes hidden under floorboards for safekeeping or kept them on their person. Today, a wide variety of companies offer financial services for everyone, depending on their needs or income bracket.