BFSI Domain

BFSI Domain

BFSI Industry – Domain Knowledge

Looking for knowledge and key business information on the BFSI industry?

TechnoFunc brings to you BFSI industry overview, business model, value chain, competitive landscape, and latest trends. The Term BFSI is an acronym for Banking, Financial Services and Insurance and popular as an industry term for companies that provide a range of such products/services and is commonly used by IT/ITES/BPO companies and technical/professional services firms that manage data processing, application testing and software development activities in this domain. Banking may include core banking, retail, private, corporate, investment, cards and the like. Financial Services may include stock-broking, payment gateways, mutual funds etc. Insurance covers both life and non-life.

Learn the various dynamics and challenges in the domain knowledge for BFSI Industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting! 

Banking Operations: Understanding Various Transactions & Activities

Banking Operations: Understanding Various Transactions & Activities

Banks perform a variety of operations ranging from basic or primary functions like day to day transactions at a branch to others that maybe the agency or general utility services in nature. The transactions that are incidental to revenue/sales or sustaining the business are an important element of the banking industry value chain. In this article, we will look at the key operations performed in the course of banking.

Overview of Finance Domain

Overview of Finance Domain

"Finance Domain” term is generally used to refer to the skills and jobs that fall under the finance industry or financial services. There is a potential source of confusion regarding what we refer to with the term Finance Domain. On the one hand, there is a function called finance that is common to all business enterprises, in every industry, and on the other hand, we have financial institutions. The knowledge of the finance domain enables possible career paths within the financial services industry or with financial institutions.

Why Learn Finance Domain?

Why Learn Finance Domain?

If you are running a business, managing an IT project, designing, or improvising any business process, it’s very much likely that you will have to deal with financial concepts and financial lingo. Modern processes are integrating every aspect of the business from in receiving, warehousing, inventory control, production, sales, delivery, billing, and collection, in fact, the entire suite of accounting and management. Learn why you need to master finance.

Banking Operations: Understanding the Regulatory Framework

Banking Operations: Understanding the Regulatory Framework

When a bank fails, the depositors suffer as much or more than the bank’s owners. Failure of one large bank can trigger losses across the boundaries of nations. This makes the banking industry an excellent candidate for government regulations. Bank’s lending policy directly impacts the economy, especially during economic downswing & upswings. Acting overly cautious, they restrict funds availability, and taking more risks can create the inflationary boom. Let us explore various banking regulations and how they safeguard our interests as consumers.

Overview of Insurance Sector

Overview of Insurance Sector

The insurance industry comprises companies and people who develop insurance policies and sell, administrate, and regulate them. Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. The insurance Industry manages the risk to people and businesses from the dangers of their current circumstances. Insurance policies are a safeguard against the uncertainties of life.

Importance of Insurance

Importance of Insurance

Insurance policies are a safeguard against the uncertainties of life. Insurance policy helps in not only mitigating risks but also provides a financial cushion against adverse financial burdens suffered. From a macro perspective Insurance industry turns capital accumulates as premiums into productive investments thereby promoting trade and commerce activities which result in the sustainable economic growth of the economy.

Types of Insurance

Types of Insurance

Insurance is categorized based on risk, type, and hazards. Logically, any risk that can be quantified can potentially be insured. Understand the importance of insurance and the different types of insurances like Life Insurance or Personal Insurance, Property Insurance, Marine Insurance, Fire Insurance, Liability Insurance, Guarantee Insurance.

Sectors of Insurance Industry

Sectors of Insurance Industry

The insurance industry classifies the different products it offers by sector. The insurance sector is made up of companies that offer risk management in the form of insurance contracts. There are four main insurance sectors: Life & Health Insurance Industry, General Insurance Industry, Specialty Insurance Industry & Reinsurance Industry. This article describes the current insurance industry sectors and their associated activities, products, and services.

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