What is another word for Nondepository Financial Institution?
Pronunciation: [nˌɒndɪpˈɒsɪtəɹˌi fa͡ɪnˈanʃə͡l ˌɪnstɪtjˈuːʃən] (IPA) 
A Nondepository Financial Institution refers to businesses that provide financial services without accepting deposits from clients. Synonyms for this term include non-bank financial intermediaries, financial service providers, and shadow banks. Other phrases that can be used to describe such institutions include investment banks, securities firms, hedge funds, insurance companies, and pension funds. These institutions play a significant role in providing financing, investment, and insurance services to businesses and individuals. Non-bank financial intermediaries, in particular, have become increasingly popular in recent years, given changes in regulatory requirements and the evolving nature of modern financial markets.
