What is a traditional financial institution?

1. Financial institutions refer to financial intermediaries engaged in financial services, which are part of the financial system, and financial services, banks, securities, insurance, trusts, funds and other industries correspond to this.

2. Traditional financial institutions mainly refer to financial activities with only three traditional businesses: deposit, loan and settlement. The generalized life cycle cost also includes the use cost and abandonment cost of consumers after purchase. Simply put, finance is the financing of funds. Finance is the general name of currency circulation, credit activities and related economic activities. Finance in a broad sense refers to all economic activities related to the issuance, storage, exchange, settlement and financing of credit currency, even including the sale of gold and silver. Narrow sense of finance refers to the financing of credit currency.