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A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institution: [ 1 ] [ 2 ]
The following is a list of the world's largest publicly traded financial services companies, ordered by annual sales for the latest Fiscal Year in millions of U.S. dollars according to the Fortune Global 500. (Currently the top 50 public companies are included, while privately held companies are not included).
The following table lists the 100 largest bank holding companies in the United States ranked by total assets of September 30, 2024 per the Federal Financial Institutions Examination Council, along with the market capitalization of public banks.
The financial industry suffered the most data breaches in 2023—including a single attack that affected nearly 1,000 institutions María Soledad Davila Calero February 9, 2024 at 10:22 AM
Change in access to a financial account or services between 2005 and 2014 by country [2]. The term "financial services" became more prevalent in the United States partly as a result of the Gramm–Leach–Bliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge.
The concept was first explored in 2003 as part of the open innovation movement that was promoted by Henry Chesbrough. [4] [5] The advent of internet banking and development of online technology in the early 2000s led to interest in access to the data, which was first seen in account aggregation attempts by technology companies.
Banking, financial services and insurance (BFSI) is the industry's umbrella term for companies that provide a range of such financial products or services. This includes universal banks that provide a range of financial services or companies that operate in one or more of these financial sectors.
An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders.