This article has been translated from English to Gen Z Slang.
Financial Institution (FI) is basically a fancy way to say all those money peeps working in both private and/or public financial markets. 💸
A financial institution is like that one friend who’s got it all—they hand out a bunch of deposit, lending, and investment goodies, whether you’re just a person chilling, a big-shot business, or both. 🙌
Since this term is like a massive umbrella covering all sorts of money moves, it gets split up for regulation and other grown-up stuff. 🔍
You can put these money squads into squads like: central banks, retail and commercial banks, internet banks, credit unions, savings and loan associations, investment banks, investment companies, brokerage firms, insurance companies, and mortgage companies. 📊✨