Financial Services Sector
The Financial Services Sector provides the financial infrastructure and services that enable individuals, businesses, governments, and other organizations to conduct transactions, obtain credit, manage assets, insure against risk, and participate in the U.S. and global economies. The reliable operation of this sector is essential to economic stability and the functioning of virtually every other critical infrastructure sector.
Overview
The sector includes banks, credit unions, securities and investment firms, insurance companies, payment processors, financial exchanges, clearing and settlement organizations, and other institutions that provide financial products and services. Together, these organizations support the movement and management of enormous volumes of financial transactions and assets.
Modern financial services depend heavily on information technology, communications networks, data centers, energy, and sophisticated cybersecurity systems. Financial institutions are highly interconnected with customers, other institutions, markets, government agencies, and third-party service providers, making operational resilience and the protection of financial and customer information especially important.
Protecting the Financial Services Sector requires cybersecurity, fraud prevention, physical security, business continuity, third-party and supply-chain risk management, and the ability to maintain or rapidly restore critical financial services following a disruption. The U.S. Department of the Treasury serves as the Sector Risk Management Agency for the Financial Services Sector and works with financial institutions and government partners to strengthen sector security and resilience.
