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