A practical guide to financial services : knowledge, opportunities and inclusion

"Financial services and products underpin all aspects of our lives. We rely on bank accounts to deposit money, receive salaries and pay our bills. We use mortgages to purchase our homes, insurance to protect our assets, and pension policies to save for our future. Access to financial services is vital, yet many people are excluded from them. This book promotes financial knowledge and literacy. It focuses on the structure of the financial services industry, its key features, latest developments, and their impact on consumers' access and use of financial services products as well as the risks and financial opportunities. The book discusses a wide range of topics, including the impact of major aspects and changes in banking, such as closure of branches, Open Banking, digitalisation of banking; the rise of Fintech and its impact on products and services in banking, insurance and investment; the changes in the financial advice sector; the cause and effect of financial exclusion on consumers; the Government's role; the regulation of financial services and the types of consumer protection available. It also offers an international perspective, examining the industry in both a global and a UK context. The book is written for consumers, the general public, and university students, so that they can gain a better understanding of this important industry, make effective use of the financial products and services available, and exploit financial prospects to create wealth and build security for themselves and their families."