Finance, Banking And Finance Industry - 2170 Words

When you drive up to your bank or walk up to your teller, your main goal is to complete your transaction and move on with your day. The last thing on your mind is how that transaction is taking place. You don’t care what happens behind the scenes as long as your money is where it needs to be and is safe. As the banking and finance industry has transformed, so has the process of how your money is handled. To accompany those changes, regulators and lawmakers create laws designed to protect consumers, banks, and the economy as a whole. As you will learn, the history of the banking industry has changed drastically over the last two thousand years and even more so in the last century with the advance of technology. It only makes sense that those lawmakers must continue to update and invent new regulation to further protect those interested parties. My goal is to demonstrate just how rapidly and radically the finance industry has changed and how new elements being introduced to finance and banking will adapt the industry and the regulation. In the world of finance and financial services, banking has been around longer than any other segment of that world. For more than two millenniums, bankers have served as â€Å"money changers† who aided people in exchanging foreign for local currencies. As this practice grew and many began to throw their funds into the banking system, the services that banks performed multiplied. Loans were granted and bankers collected interest. Most ofShow MoreRelatedFinance And Banking Industry Uses1360 Words   |  6 Pagesapplied to different kinds of organisations, in diverse fields such as biotechnology, finance, sports, manufacturing, retail and education. These solutions are mostly integrated with decision support systems. The following are a few examples of DM solutions [84]:  Finance - The finance and banking industry uses DM solutions to determine customer loyalty and the credit risk of customers. DMsolutions help the industry with money laundering investigations and enable customised plans to be prepared suitableRead MoreThe Growth And Development Of The Banking Sector1280 Words   |  6 PagesThe trend in the banking and financial institution undergo the transformation of changes within a short span of period. The applications of different advanced technology and the prolonged investigations and research has contributed to the increased growth and development of the banking sector. The finance industries implement a distributed information center. The client’s data and information regarding the transactions get replicated in different terminals to enhance the easy transactions betweenRead MoreAnalysis Of International Banking1192 Words   |  5 PagesIntroduction Banking in today’s era is in process of upgrading itself by joining the wave of latest technologies and trends. Currently, it is in the midst of chaos and disruptions and is in process of reshaping its business models to alienate the traditional processes. The driving force for Banks to adopt such changes can be a. Changing customer needs, b. Optimization of cost and Banking Operations, c. Digitization and Automation, d. Streamlining of complex and lengthy processes and e. New competitorsRead MoreThe United States Banking Sector1562 Words   |  7 PagesUnited States banking sector has flourished ever since the chartering of its first bank, Bank of North America in 1781 (Smith). Historically, banking has brought on significant industrialization in the United States, enabling our nation to stand among the most powerful today. However, the current United States national debt is at $19.2 trillion, and every second it is increasing exponentially (â€Å"U.S. National†). How did we manage to fall into such a dark abyss of financial debt? Poor banking, continuousRead MoreExamples Of Salary And Demand In Finance763 Words   |  4 PagesSalary and Demand in the Finance Industry According to the U.S Bureau of Labor Statistics, employment opportunities for the sector of business and financial operations has estimated a growth of 632,400 new jobs, or an 8% rise from 2014 to 2024. In fact, the Bureau states that â€Å"the median annual wage for business and financial occupations in 2016 was 66,530, higher than the median annual wage for all occupations of 37,040† (U.S. Dept of Labor). As a future University of Houston-Downtown graduateRead MoreLaws Providing For Parallel Islamic Banking Systems: In most jurisdictions where Islamic banks1000 Words   |  4 PagesLaws Providing For Parallel Islamic Banking Systems: In most jurisdictions where Islamic banks operate, they have to compete with conventional banks involved in interest-based borrowing and lending. The legal framework governing the licensing of banks and their regulation was designed primarily for conventional institu ¬tions, not least as there were no Islamic banks in existence in most cases when the banking laws were drafted. Three choices therefore arise: firstly, whether Islamic banks can beRead MoreThe Merger of Finance Companies in Malaysia1556 Words   |  7 PagesFIN 426 Banking Operation and Documentation Assignment 1 â€Å"The finance company in Malaysia are no longer exist† Prepared By: ZURAINI BINTI SAMSURI 2010889082 EMBF5C PREPARED FOR: EN. HASBULLAH BIN OTHMAN Nowadays, there are no more finance companies in Malaysia. This situation occurred due to Asian financial crisis in mid year of 1997. Start with Thailand whereas Thai government has decided to float Thai Baht due to financial crisis. A few days later, the crisis spread out to Malaysia and MalaysiaRead MoreChallenges Of Islamic Finance Industry1207 Words   |  5 PagesCHALLENGES TO ISLAMIC FINANCE INDUSTRY Many authors agree that Islamic finance industry has a long way to become globally successful industry. To achieve its potential for solid growth, Islamic finance must improve number of areas including: improving regulatory supervision in the industry, adaptation of tax treatment to Islamic banking products, establishing liquidity control, introducing risk management tools, supporting standardization of financial products and others. Prasad (2015) mentionsRead MoreIslamic Law And Islamic Banking1299 Words   |  6 PagesForty years ago, the Islamic banking industry was created, on a modest scale, to fill a gap in a banking system that was not listening to the fervent Muslim believers. Morocco has been following the same development in offering Islamic finance services to its citizens through Islamic windows in conventional banks. In parallel to this development of the Islamic financial industry in Morocco, it seems very crucial to evaluate critically based on Maliki law school the previous experience of IslamicRead MoreThe Financial Service Industry Comprises Of Securities1421 Words   |  6 PagesThe financial service industry comprises of securities and commodities sector, banking sector, insurance and real estate sector. Other industries have finance departments that require professionals with finance qualifications. There is a very strong occupational outlook in this field, and there is a shortage of the ri ght talent to fill these talents. One of the hot job categories is in the field of financial planning and analysis. Financial Planning and Analysis is less focused on the routine transaction