5 Ways the Financial Services Industry Makes the World go Round

LONDON, June 20, 2011 -

Financial services are everywhere. We rely on them to look after
our money, to provide finance for the homes we live in, to help us
save for the future and to fund the organisations we work for.
Financial services also enable the trade that has been a major
factor in rising global prosperity. Here, TheCityUK ( href="www.thecityuk.com/">www.thecityuk.com/)
looks at just how financial services have changed our world.

1. Providing homes to live in

A century ago, nine out of ten homes were rented from private
landlords. Today, more than two-thirds of homes in the UK are owned
by the people who live in them. href="www.thecityuk.com/">UK financial services have
helped millions of people to buy their homes and continue to
support the growing numbers of private landlords and housing
associations that provide quality rental properties in Britain.

1. Saving for the future  

Some people put money away for a rainy day. Others want to save
up for expensive items such as a new kitchen, a car, a holiday or
the deposit for a home. And many save over the longer term to
provide funds for their retirement. Whatever you do, competition in
the financial services industry has created a huge range of choice
when it comes to making sure your savings are working for you.

1. Backing business and enterprise

From the bank account for their day-to-day expenditure to
insurance cover for their assets and funds to help them grow, most
businesses would find it hard to function without financial
services. The financial
services industry has developed many ways of providing such
support, which helps create jobs and provide the goods and services
we all take for granted.

1. Supporting international commerce

As improved communications and logistics have helped even the
smallest businesses explore new markets and win customers from
thousands of miles away, financial services have developed to
facilitate this cross-border trade in areas ranging from exchange
rates and payments to the more intricate complexities of
globalisation.  

1. Aiding the aging population

Longer life expectancy is an unqualified good thing, but the
world’s economies will be affected and must adapt to handle it.
Societies face a growing bill for pensions and healthcare.
Financial services will help people to save for their retirement so
that they do not fall behind as average incomes increase.

Financial services for tomorrow

Financial services help provide homes and pensions, support jobs
in business and commerce, and have contributed to raising standards
of living to levels that would have seemed unattainable even a
century ago. Learn more about UK financial services and how they
continue to change your world at href="www.thecityuk.com/">www.thecityuk.com/

About TheCityUK

TheCityUK is the independent
membership body promoting UK-based financial and related
professional services. It was created with the support and initial
financial backing of the City of London Corporation.

TheCityUK is the cross-sector voice for the UK financial
services community working to build a deeper pool of support across
the UK, promoting UK financial services overseas and contributing
to the regulatory and trade policy debate.

The purpose of the organisation is to partner prosperity -
supporting the competitiveness of UK financial services and
protecting their considerable economic contribution. TheCityUK
co-ordinates and facilitates the contribution of its members to
drive and deliver its priorities.

Its UK-wide membership covers all sectors in financial services
and related professional services. It is independent and
politically neutral.

For further information please see href="www.thecityuk.com/">www.thecityuk.com/

Contact: Tim Skelton-Smith, TheCityUK, Head of Marketing Communications, +44(0)20-7776-8970, tim.skelton-smith at thecityuk.com