banking industry

The banking industry involves financial institutions that manage money by accepting deposits from customers, providing loans, and offering related services like savings accounts, checking accounts, and payment processing. Banks help individuals and businesses save, borrow, and invest money securely, while also facilitating economic activity. They earn revenue mainly through interest on loans and fees for services. Banks are regulated to ensure safety and stability, making them essential to the functioning of the economy by enabling money flow, credit access, and financial security.