### social organization | institution:

Financial institution
* Allow foreign banks and brokerage houses to establish subsidiaries.
* Many financial institutions collect information about their customers as a regular part of business
  - focus their attention solely on large, established companies
  - have basic, low-cost accounts
  - keep their savings rates low to protect their best interests
  - offer free checking to the elderly, disabled, or students
  - require employees to change passwords every month
* Most financial institutions advertise and offer home mortgages.
* Most financial institutions have a board of directors
  - statistical information to build mathematical models
* Most financial institutions offer a variety of accounts, some with little or no fees
  - of accounts-some with little or no fees
  - special accounts for children
  - the same basic services when it comes to checking and savings
  - provide customer service in order to achieve higher profits
  - serve as paying agents for savings bonds
* Some financial institutions allow the same account number on savings and checking accounts
  - are both issuers and acquirers
  - become transactions
  - deduct a charge or fee from foreign currency payments
  - operate as both lenders and brokers
  - welcome children's accounts and can make saving fun and educational
* are a natural environment to sell annuities
  - banks, unless otherwise specified
  - eligible to be designated as public depositories
  - employers of a large number of mathematics graduates
  - especially vulnerable because of their reliance on dates
  - important for every business venture
  - in a service industry where there are certain fixed operating costs
  - responsible for pledging collateral as requested by agencies
  - service companies
  - the community hubs of information technology today
  - unusual in that their primary commodity is money and credit
  - very concerned about protecting the privacy of their customers
  - wholesalers
* can offer attractive convenient ways for individuals to save and invest
  - take the form of intermediaries or banks
* collect a great deal of personal information about their customers.
* deal with the management and functions performed by financial firms.
* do a great deal of work compiling statistics on performance.
* earn a profit by paying depositors less than they charge borrowers.
* encourage instant gratification and over-extended credit.
* engage in what is known as maturity transformation.
* form the largest group of creditors and petitioners.
* have customer relationships and multiple channels
  - many employees working away from offices
* have procedures designed to maintain accurate and complete information
  - to prevent unauthorized access to customer information
  - responsibility
* help protect customers against criminal use of their information.
* lend money that is on deposit to businesses
  - to make money
* make more money by having the lowest bad loan rate they can achieve.
* offer a variety of financial services
  - wide range of mortgage rates, terms and conditions
  - different interest rates
  - online banking, stock quotes, and trading
  - several types of checking accounts
  - special accounts for savers called savings accounts
* operate as micro units within a competitive, international structure
  - without any social or environmental guidelines
* own almost all debt.
* play a crucial role in the development of the agrofood sector
  - important roles
* provide assistance
  - development assistance
* provide economic assistance
  - full services
  - investment and venture capital
* report daily whereas enterprises report on a monthly basis.
* serve customers
  - many types of clients
* tend to pool loans they originate for sale into the secondary market.
* use data to estimate mortgage demand
  - financial engineering to create complex derivative instruments
  - four variables to determine the amount of interest paid on deposits
  - it to manage investments
* value financial assets whenever making loans to businesses or consumers.