Techno-Whiz Banking and Financial Services practice offers our clients comprehensive solutions to the challenges in an increasingly globalised financial world. With the progressive globalisation of markets, intense competition, and the global financial crisis, banks and other financial services require an in-depth understanding of the relevant requirements and solutions.

Given that the financial sector comprises various classes of entities largely in Banking, Financial Services and Insurance domains, the popular acronym to refer to them is ‘BFSI’. This sector can take advantage of the growing domestic market, increasing investible surplus owing to the growth story, growing need for protection, diversification of investments and provision of globally competitive standards of service. India’s banking and financial sector is gearing up for the same by expanding rapidly.

The economy is made up of many different segments called sectors. These sectors are comprised of different businesses that provide goods and services to consumers. The companies that are grouped together in a sector provide a similar product or service. For instance, companies that offer agricultural services make up the agricultural sector. Corporations that provide mobile or cellular telephone services are part of the telecommunications sector. This article looks at the financial services sector, one of the most important segments of the economy.