Matti Lepällä

Secretary General/CEO, PensionsEurope
Photo by Umberto

The Role of Banks vs. Non-Bank Financial Institutions in the Financial Ecosystem - The Pension Funds Perspective

The financial ecosystem is composed of both banks and non-bank financial institutions (NBFIs), each playing a crucial role in ensuring financial stability and economic growth. While banks are traditionally the dominant players in financial intermediation, NBFIs—including pension funds, investment funds, and insurance firms—have gained prominence in recent years.