Financial services and professional services sector

The financial services sector, differing by country, includes central banks, depository organizations, credit unions, insurance, pension funds, and firms in financial intermediation or asset management. It covers financial enterprises, markets, and payment systems, facilitating investment or consumption funds flow from savings globally. This sector's recent digital transformation has witnessed the emergence of new players such as Fintechs and Insurtechs.

The broader professional services sub-sector encompasses critical services like private security, cleaning services, and Business Process Outsourcing (BPOs). These services play an essential role in supporting the operational needs of the financial sector and other industries, reflecting the sector's complex ecosystem.

Recent ILO initiatives have focused on understanding the impacts of digitalization on the organization of work, safety and health and on skills needs, while also considering employment trends in associated professional services, i.e., the private security sector.

Harnessing the potential of digital technologies to achieve decent work in the financial sector

The report provides a global overview of policies, initiatives and practices regarding decent work as well as employee outcomes in the global financial sector.

Technical meeting on the impact of digitalization in the finance sector

The purpose of the meeting was to discuss challenges and opportunities relating to the impact of digitalization on the future of work in the financial sector, with particular focus on global trends and on policies, strategies and good practices to advance decent work in the sector.

Conclusions adopted by the meeting