• Banking
• Payment systems
• Financial market
• Securities dealing
• Insurance
• Labour market
• Legislation
• Finance houses
• Social responsibility

Financial industry

The Federation of Finnish Financial Services was formed at the start of 2007 through a merger between

• The Finnish Bankers’ Association,
• Federation of Finnish Insurance Companies,
• Finnish Finance Houses Association, and
• Employers’ Association of Finnish Financial Institutions.

At the start of 2009, the Federation was joined by

• Finnish Association of Securities Dealers

The merger was prompted by an integration process where banks and insurers were coming closer to each other.  As a result, many of the new Federation’s members engage in both banking and insurance business.  Moreover, the products offered by banks and insurers for savers, investors and insurance customers have become increasingly similar.

The Federation’s membership also comprises insurers authorised to provide statutory employee pension cover and workers compensation insurance, two lines that account for a major share of Finnish social security.

Besides the five bodies that have teamed up by now, the Finnish Association of Mutual Funds (FAMF) has also been invited to join as member. The FAMF has decided to recommend its members to join the Federation of Finnish Financial Services (FFFS).  Approved unanimously by both the annual general meeting of the FAMF and the board of the FFFS, the merger is scheduled for 1 September 2009.