The banking industry is a sector that provides financial services to individuals, businesses, and governments. It includes various institutions such as commercial banks, credit unions, and investment banks, which offer services like savings accounts, loans, and investment management. These institutions play a crucial role in the economy by facilitating transactions and providing access to capital. Banks operate by accepting deposits from customers and using those funds to lend to others, earning interest in the process. They are regulated by government entities to ensure stability and protect consumers. The industry also adapts to technological advancements, leading to the rise of online banking and fintech companies.