Financial Product versus Financial Service

A Financial Product is a tangible and discernible item produced by a Financial Service organization.

Examples of products:

Financial Contracts
Information Technology Artefacts (ATM machines, POS, Credit Cards)

A Financial Service is a less concrete item (service) that is either offered on its own right or as a significant element of a tangible financial product.

For example:

Consulting with clients on appropriate financial products for specific purposes
Providing advice on risk management / portfolio management