Services are economic activities or performances offered by one party to another that are essentially intangible in nature and do not result in the ownership of anything. They are produced and consumed simultaneously and provide value through benefits, experiences, or solutions rather than through physical objects. In the context of financial services, services include activities such as banking, insurance, mutual funds, portfolio management, financial advisory, leasing, and payment services. These services help individuals and organizations manage money, reduce risk, mobilize savings, and facilitate investment and economic growth. Services differ from physical products in several fundamental ways. Physical products are tangible, can be seen, touched, stored, and owned, whereas services are intangible and cannot be physically possessed. A customer buying a product like a mobile phone can examine it before purchase, but a customer buying a life insurance policy or opening a bank account is purchasing a promise of future performance. Products are usually produced first, then sold, and finally consumed, while services are produced and consumed at the same time. For example, a loan appraisal or financial advice is created and consumed during interaction between the service provider and the customer. Physical products can be stored and inventoried, but services cannot be stored for future sale; unused service capacity, such as empty bank counters or idle relationship