If you are discussing the industry of financial services, words like warm & reliable don’t comes first in your mind. A refrain that happens constantly is that these types of companies employees are willing to put clients first.

Whenever we hear the word financial services sector or learn about the term, the first thing we might think of is Wall Street’s hustle & bustle. But one thing which is essential to be known is that you can get a lot more things in the industry than stock trading as well as investment services.

Several financial services organizations are available in the financial services sector. This type of company is regarded as a crucial economic part of many nations. Two trends characterize the industry of financial services. While one trend is specialization, another is globalization. In the first trend, companies offer targeted services to customers. Besides, in the second trend, firms are expanded into developing and emerging market nations. To know what companies are in the financial services sector, dig into the article.

Top financial services companies worldwide in 2023

Wanted to know what companies are in the financial services sector? These are the top financial services companies across the world:-

  • JPMorgan Chase & Co
  • Bank of America
  • Wells Fargo
  • Morgan Stanley
  • Citigroup
  • Barclays
  • Deutsche Bank
  • Goldman Sachs
  • American Express
  • UBS
  • HSBC
  • BNP Paribas
  • Allianz
  • Capital One
  • Credit Suisse Group
  • Mastercard
  • PNC Financial Services Group
  • Prudential Financial
  • Berkshire Hathaway
  • BlackRock
  • S. Bancorp
  • Société Générale
  • Raymond James
  • ING Group

Top financial services companies in India 2023

If you want to know what companies are in the financial services sector, look at these top financial services companies in India:-

  • ICICI Bank
  • HDFC Bank
  • Kotak Mahindra Bank
  • Axis Bank
  • Bajaj Finance Limited
  • State Bank of India
  • Bajaj Finserv Ltd.
  • LIC Housing Finance Ltd
  • Mahindra & Mahindra Financial Services Limited
  • Housing Development Finance Corporation Ltd
  • Muthoot Finance Ltd
  • Power Finance Corporation Ltd
  • Yes Bank
  • Barclays
  • IDFC First Bank Ltd
  • IndusInd Bank
  • Tata Capital Financial Services Limited
  • Tata Capital
  • Citigroup
  • AU Small Finance Bank
  • Ujjivan Small Finance Bank
  • ICICI Lombard
  • PNB Housing Finance Ltd

What types of companies are in the financial sector?

Do you know what companies are in the financial services sector? These are the names of companies in this sector:

  • Investment banking firms
  • Money managers
  • Brokerage houses
  • Banks
  • Lenders
  • Insurance companies
  • Tax and accounting firms
  • Credit card companies
  • Payment processing companies
  • Real estate companies
  • Fintech companies

What are the 7 types of financial services?


  • Berkshire Hathaway:

This service was founded in 1839 as Valley Falls Company. Its headquarters is in Omaha, Nebraska. Warren Buffett is its Chief Executive Officer, who belongs to one of the richest individuals in the world. It has a very costly stock. This company trades on the New York Stock Exchange (NYSE).

It was previously a textile manufacturing company. In 1962, he was involved in this company by purchasing shares before assuming complete control some years later. It is famous for its financial success with other companies acquired over the years. GEICO, National Indemnity, and General Re are owned by multinational conglomerates. Due to the combination of these three companies, Hathaway has become a very large insurance company in the United States.

  • American Express:

This service was founded in 1850. Its headquarters is in New York, New York. Stephen Squeri is its Chief Executive Officer. $118.97 billion is the market capitalization as of August 2022.

This old firm delivered freight forwarding services. Later, the service company offered travel services. It was the only company that provided charge cards. American cards are also called Amex, a component of the DJIA. The term stands for Dow Jones Industrial Average.

American Express has been improving its strategies and achieving success despite competing with Visa and MasterCard. These two major rivals have plenty of credit card marketing strategies. This company’s primary focus is to provide credit card offerings. In addition, it can offer other travel services like traveler’s checks.

  • Wells Fargo:

This service was founded in 1852. Its headquarters is in San Francisco, California. Charles Scharf is its Chief Executive Officer. $169.345 billion is the market capitalization as of August 2022.

This one is a global bank that has retail & commercial banking locations across the United States. There are branches in Hong Kong, London, Singapore, and Tokyo.

In the U.S., Wells Fargo has become one of the biggest banks by market capitalization. It belongs to the top hundred large corporations in the United States. Wachovia Bank was acquired by Fargo in 2008.

  • Charles Schwab:

This service was established in 1971. Its headquarters is in Westlake, Texas. Walter Bettinger is its Chief Executive Officer. $138.40 billion is the market capitalization as of August 2022. It played an essential role in the revolution of lowered brokerage commissions. Schwab offered 24-hour quotes and extended customer service hours previously.

This company is the biggest discount broker in America. Bank of America purchased the company in 1983. In 1987, After being engineered a buyback, it took Schwab public. The company currently has total client funds of $7.3 trillion, while the brokerage account is 33.9 million and 1.7 million in banking accounts.

  • PayPal:

This service was founded in 1998. Its headquarters is in San Jose, California. Dan Schulman is its Chief Executive Officer. $108.99 billion is the market capitalization as of August 2022. You should know that PayPal belongs to one of the first fintech companies. Businesses, along with individuals, use this online platform to perform secure financial transactions. The number of active merchant & consumer accounts is 429 million.

It has several bonds already with different financial service companies like Visa, Bank of America, Banorte, Barclays, Citi, HSBC, JPMorgan Chase, ShinhanCard, Wells Fargo, American Express, Discover, Mastercard, FIS, Paymentus, and Synchrony.

  • Goldman Sachs:

This service was founded in 1869. Its headquarters is in New York, New York. David Solomon is its Chief Executive Officer. $116.32 billion is the market capitalization as of August 2022. This company offers economic growth and financial chance. Besides, the company can provide several financial services which have connections with investment banking, securities, investment management, and consumer banking.

The company’s services benefit organizations having mergers and acquisitions, financing, etc. The investment research commodities markets, fixed income, and currency. It also issues Apple cards using a partnership with Apple.

  • Rocket Mortgage:

This service was founded in 1985. Its headquarters is in Detroit, Michigan. Jay Farner is its Chief Executive Officer. $16.99 billion is the market capitalization as of August 2022.

It was previously called Quicken Loans. In 2021, it altered its name. This company delivers 24/7 loan tracking, an online application process, excellent customer service, and so on.



Frequently  Ask Questions :- Financial Services Sector


What are the 4 main types of financial institutions?

Banks, credit unions, insurance companies, and investment companies are the most common financial institutions. These can provide different products as well as services for various purposes like deposits, loans, investments, and currency exchange. Let’s see the four main types of financial institutions.

  • Banks, Credit Unions, and Savings & Loans:

These accept deposits and let people make different loans like business, personal, & mortgage loans. Besides, these provide checking & savings account services and certificates of deposit (CDs). These also serve as payment agents via credit cards, wire transfers, and currency exchange. Usually, the banks, credit unions include:

  • Commercial or private banks
  • Savings and loans organizations
  • Credit unions
  • Foreign banks
  • Savings banks, industrial institutions, thrifts


  • Investment Companies, Advisors, and Brokers:  

Nowadays, investment companies spend their bonds, stocks, mutual funds, and ETFs. While these companies invest their money in mutual funds, they also invest in stocks, bonds, money market instruments, and so on. Investment advisors and brokers are one of the instances of these financial institutions. A broker’s job is to purchase & se securities by carrying out orders.

  • Insurance Companies:

This type of company is a renowned non-bank financial institution. These deliver services financially to people or corporations. The insurance regulation is maintained primarily at the state level while FIO monitors the industry.

  • Investment Banks:

Companies raise funds with the help of financial institutions when these issue securities & sell them. In addition, these types of banks offer mergers, acquisitions, etc, to companies. These are the names of the top four major players in financial institutions and a few of their details.


What is considered a financial services company?

A financial services organization can provide plenty of investment & services related to finances to the public with the target of managing money. This type of company can foster economic growth by gathering money sources via saving accounts.


What is the difference between financial services and financial institutions?

Usually, traditional banks provide financial goods and financial services. If you are a regular consumer, you are capable of opening a savings account, taking out a loan from the same bank, wire funds, etc. Hence, we consider that bank is a provider of financial services along with the financial services sector.

Several members are available within the financial services sector, which are impossible to be divided into banks. For instance, we can say that investment agencies & stock market brokers aren’t referred to as banks. However, these are still capable of delivering financial services. In fact, their services can be intermediate services instead of end goods.

The difference says that principles economists can employ to make capital goods different from consumer goods. For instance, one orange is good for consumers when they eat it directly. However, if a deli owner makes juice using oranges, it becomes a capital good.


What are financial services also called?

We can call financial services financial intermediation, which indicates a method through which funds are mobilized from many savers. These can be available to every person who requires this, especially to corporate customers.


Who are the major players in financial services?

These are some of the major players in financial services:

      • The financial service sector belongs to the tertiary sector, where a very important role is played by banks. The Central Bank of the nation leads usual banks to grow the financial services industry, including commercial, cooperative, development, and foreign banks.
      • A purchase financier belongs to this financial service sector. His job is to enable consumers to purchase products on a credit basis.
      • Leasing companies through financial and operating leases make sure that you will get assets at affordable prices.
      • Factoring lets sellers get ⅘ th value of sales from financial organizations which undertake factoring services.
  • Underwriters and merchant bankers are a few extra players promoting companies and ensuring dynamic activity in the capital market.
  • Book-builders let companies allot shares to various types of investors.
  • Mutual funds make sure of the investment by the public. It can make sure tax relief to the investor.
  • Credit cards also play a crucial role in financial services. It makes sure plastic money’s circulation on credit by the consumer.
  • Credit rating companies offer various credit ratings for mobilizing public deposits to companies.
  • Housing finance and insurance companies are major players in financial services as they enable you to invest money in the economy. The reason is that these belong to the players in financial services.
  • Asset liability management organization controls actual investment by enabling mutual funds in various organizations.
  • Regular Finance companies and those belonging to non-banking finance companies offer extra funds to the above players for increasing the availability of more activity in the economy.


Who provides financial services in India?

Commercial banks, insurance companies, non-banking financial companies, co-operatives, pension funds, mutual funds, etc., deliver financial services. Many small financial entities offer financial services. We have given here a few names of the best financial institutions in India. These are as follows: Bajaj Finance Limited, Tata Capital Financial Services Ltd, Aditya Birla Finance Ltd, L & T Finance Ltd, Muthoot Finance Ltd, Mahindra & Mahindra Financial Services Limited, HDB Financial Services, Power Finance Corporation Limited, etc.


Are financial services and fintech the same?

You should know that fintech is a term that represents two words, including financial & technology. This term refers to the technology used to offer financial services & products to consumers. It may happen in banking, insurance, investing, etc., which are finance connected.



In conclusion, the financial services sector encompasses a wide array of companies, institutions, and organizations that play a significant role in the global economy. This sector includes banks, insurance companies, investment firms, credit card providers, and other financial institutions. The list of companies within this sector is extensive, reflecting the diverse range of services they offer, such as banking, lending, investing, insurance, and more. By understanding the composition and scale of the financial services sector, individuals and businesses can gain valuable insights into the entities that drive economic growth and financial stability.

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