Financial and Insurance Services
Finance and Insurance is made up of banks, finance brokers and advisors, investors, mortgage brokers, credit cards, credit unions, health, life and general insurance companies, building societies, superannuation funds and pawnbrokers.
The sector includes 120,284 businesses and employs 445,121 people.
New South Wales has the largest share of the workforce and the jobs are concentrated in capital cities.

AI and Blockchain provide more ways to increase efficiency in an automated banking and finance operational environment. This is good for organisations but not so good for the workforce in the sector.
The automation of banking and insurance with the shift from high street banking to online banking, from counter to ATM, from cash to card, has changed the relationship with customers. Plus malpractice in the banking and insurance industry has damaged respect and trust for financial institutions in society.
AI is a challenge to financial services of all kinds, offering better advisory options than financial planners, mortgage and insurance brokers. AI powered chatbots can deliver tailored financial recommendations based on the results of data, reports and investment statistics from across the planet.
And Cryptocurrency is another issue for traditional fiat currency and the banking industry, offering a new mechanism for exchange.
Employment: 445,121
Organisations: 120,284
-
Employing:
56%
-
Non-employing:
44%
Remuneration
-
Avg Salary:
$83,032

Categories
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Banks & Financial Asset Investing
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Building Societies
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Credit Unions
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Deposit Taking Financiers
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Non-Financial Asset Investors
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Finance Broking
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Services to Finance & Investment nec
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Services to Insurance
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Life, Health, General and Superannuation
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Banks & Financial Asset Investing
Activities: Trading bank, Savings bank, Trust, Foundation, Holding company, Unit trust-
Technology
AI, Blockchain, Digital ID -
Other issues
Industrialisation of banking, Cryptocurrency, Digital ID
Artificial Intelligence (AI)
The Implementation of AI In Banking & Insurance -
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Building Societies
Activities: Building society-
Technology
AI, Blockchain, Digital ID -
Other issues
Cryptocurrency, Digital ID
-
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Credit Unions
Activities: Credit union-
Technology
AI, Blockchain, Digital ID -
Other issues
Digital ID
-
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Deposit Taking Financiers
Activities: Merchant bank, Commercial finance, Money market dealers,-
Technology
AI, Blockchain, Digital ID -
Other issues
Cryptocurrency, Blockchain, Digital ID
Artificial Intelligence (AI)
AI & Machine Learning in Finance: AI Applications in the Financial Industry -
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Non-Financial Asset Investors
Activities: Cooperative Housing society, Credit Card issuing-
Technology
AI, Digital ID -
Other issues
Digital ID
-
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Finance Broking
Activities: Futures broking, Stock broking, Trading-
Technology
AI, Blockchain, Digital ID -
Other issues
Cryptocurrency, Digital ID
Artificial Intelligence (AI)
AI & Machine Learning in Finance: AI Applications in the Financial Industry -
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Services to Finance & Investment nec
Activities: Clearing house, Mortgage broker, Financial consultant, Stock exchange, Credit card, Cooperative housing,-
Technology
AI, Blockchain, Digital ID -
Other issues
Online service, Digital ID
-
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Services to Insurance
Activities: Actuarial service, Claim assessment, Insurance broking-
Technology
AI, Blockchain, Digital ID -
Other issues
Climate change, Digital ID
-
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Life, Health, General and Superannuation
Activities: Life insurance, Health insurance, Funeral benefit, Dental insurance, Accident, Fire, Household, Car, Travel, General insurance, Superannuation-
Technology
AI, Blockchain, Digital ID -
Other issues
Digital ID
Artificial Intelligence (AI)
How A.I. Is Transforming the Insurance Industry -
Data courtesy
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