Banking, financial services and insurance (BFSI) is the industry’s umbrella term for companies that provide a range of such financial products or services. This includes universal banks that provide a range of financial services or companies that operate in one or more of these financial sectors. BFSI comprises commercial banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and other smaller financial entities.
The Banking part of BFSI may include core banking, retail, private, corporate, investment and cards. Financial services may include stock-broking, payment gateways, mutual funds. Insurance covers both life insurance and general insurance.
This term is commonly used by information technology (IT), information technology-enabled services (ITES), business process outsourcing (BPO) companies and technical/professional services firms that manage data processing, application testing and software development activities in this domain.
Sanskar Educational Group offers 3-year Graduation Level Vocational Course in Banking, Financial Services and Insurance (BFSI) with an intake of 60 students in affiliation with Dr. A.P.J Abdul Kalam Technical University (AKTU), Lucknow. The Course is designed in a way that incorporates the work and skill requirement for financial services industry and intends to train the students so that they can be work-ready with required skills and competencies of BFSI services.