Difference between revisions of "Financial Product versus Financial Service"
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Revision as of 17:43, 17 February 2020
Financial Product versus Financial Service
A Financial Product is a tangible and discernible item produced by a Financial Service organization produces, including digital file-based output. Examples of products from the Digitization Services Branch:
- Financial Contracts
- Information Technology Artefacts (ATM machines, POS, Credit Cards)
A Financial Service is a less tangible benefit that is either offered on its own right or as a significant element of a tangible financial product:
- Consulting with clients on appropriate financial products for specific purposes
- Providing advice on risk management / portfolio management
