Hi Monika,

"Financial domain" is a vague term.  It generally deals with any one of the vertical financial services industries such as:

• Retail Banking
• Commercial Banking
• Consumer Loans
• Mortgage Banking
• Insurance
• Brokerage & Capital Management
• etc.

In job posts, many people use the general term of "financial domain" or "financial services" because these industries, while different, do have many things in common. Therefore a business analyst who was successful in one of those industries will likely do well when switching to another.

For example:

• All these fields tend to be highly regulated with oversight from one ore more governmental agencies.
• Rules and laws governing these fields can change often and can come as a result of new/changes to laws from federal, state, or local level.
• All of these fields deal with some sort of financial data and calculations.
• All of these fields deal with very sensitive customer/consumer information: names, social security numbers, date of birth, addresses, credit reports, assets, income, etc.
• Most of these industries tend to have very complex business models and business rules.

Therefore, the need for competent Business Analysts is even more apparent in any of the financial services companies.

Hope this helps!

- Adrian

Hi Monika,

I am banker by background who had moved to IT & had done Business Analysis for quite some time.There is a lot more than that.An IT company working in banking domain may work into retail/corporate banking.If it is aproduct based company then it would be offering banking products like core banking/retail banking/cash management etc else if it is project based company then it can work on any particular assignment as per customer's needs.

rgds....dinesh