Business Verticals

Mayra Finance Industry

Financial services are the economic services provided by the finance industry, which encompasses a broad range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, accountancy companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. According to Janet F. Clark, CFO Marathon Oil Corp finance is the key when you think about strategy, and it's about creating shareholder value.

Today's finance professionals assume a broad range of responsibilities involving capital budgeting, risk management, project analysis and evaluation, and short-term and long-term financial planning. Professionals of finance industry are important resources to the strategic management and success of the business enterprise. Companies in this industry engage in financial transactions and create, liquidate, purchase, and sell financial. Major finance and insurance companies include AIG, Bank of America, Citigroup, Fidelity, Goldman Sachs, JPMorgan Chase, MetLife, and Wells Fargo (all based in the US), as well as Allianz (Germany), AXA (France), BNP Paribas (France), and Industrial and Commercial Bank of China. Over the next few years, we will see significant changes in this industry with the rise of mobile banking, social networking, the millennial generation and the talent gap. The Bureau of Labor Statistics shows that there are currently 3.9 million job openings in the United States alone and not enough talent to fill those positions. Gap of skill and talent management has creates a haphazard to the global economy. In the financial industry, almost half of CEOs report that they are unable to find talent with the right skills and view the issue as a serious threat to their company's growth. Data also showed that almost 25% of those CEOs have had to cancel or delay a key strategic initiative over the past year because they didn't have the right talent available at the time to execute. In India the asset management industry is among the fastest growing in the world. The mutual fund industry clocked a Compound Annual Growth Rate (CAGR) of 12.05 per cent over FY07-15 to reach US$ 179.6 billion. Indian government has taken various steps to deepen the reforms in the capital markets, including simplification of the Initial Public Offer (IPO) process which allows qualified foreign investors (QFIs) to access the Indian bond markets. The equity market has increased in recent years in India and National Stock Exchange (NSE) witnessed a CAGR of 20.7 per cent between FY96 and FY15 to reach US$ 718 billion.