Regions 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
Remuneration
Categories
-
Banks & Financial Asset Investing
-
Building Societies
-
Credit Unions
-
Deposit Taking Financiers
-
Non-Financial Asset Investors
-
Finance Broking
-
Services to Finance & Investment nec
-
Services to Insurance
-
Life, Health, General and Superannuation
Data courtesy
Australian Apprenticeships
australianapprenticeships.gov.au provides information on apprenticeships and traineeships, including factsheets and links.
Quality Indicators for Learning and Teaching
qilt.edu.au provides information about Australian universities, including study experiences and employment outcomes.
MYSKILLS
myskills.gov.au is an online database of Vocational Education and Training options, including information about providers, courses, outcomes and fees.
training.gov.au
training.gov.au for information on training packages, qualifications, courses, units of competency and Registered Training Organisations.
National Centre for Vocational Education Research
ncver.edu.au provides research and statistics about Vocational Education and Training and the links between education and the labour market.
myfuture
myfuture.edu.au is an online career exploration service which includes information on a range of career-related topics.