Security: Security is a major challenge in financial services that involves keeping customers' money safe and secured. It is necessary to ensure transactional security while customers use their credit cards, debit cards, or do online banking over the Web or through wireless mobile devices.

Customer satisfaction: Customer satisfaction is also a key factor for financial services. Most banks provide services such as personal loans, home loans, commercial loans, gold loans, mortgage loans, and wealth management consultation. The turnaround period from applying for a loan to getting cash in hand has to be kept as short as possible, to ensure maximum customer satisfaction.

Profit margins: Profit margins are very thin, but are a major requirement for the survival and growth of these organizations. Most often, they operate with their own funds. Sometimes they might even borrow money from other lenders or banks at a lower rate of interest and give the same money to their customers at a higher rate of interest.

Payment processing: Payments can happen over the Web, through mobile devices, using credit/debit cards, and so on. They also need to ensure that transactions are authentic and non-fraudulent by sending notifications on debiting/crediting or duplicate billing in an account, and by escalating and blocking an account when illegal access attempts are made.

Follow regulatory and compliance requirements: Every country has its own local and international trade laws that financial services need to follow. They also need to preserve documents and records for a certain period of time.