This chapter provides overviews of financial services products, the benefits they offer and the associated marketing challenges. It introduces the main types of Islamic financial services which have recently become more widely available. This chapter examines the factors that will influence decisions about the development of the product element of the marketing mix. It deals specifically with aspects of the product range strategy and the process of new product development in the financial services sector. Products are only purchased because they provide these benefits to the consumer. Consumers increasingly want a simpler banking experience. Consumers want their banks to know them, look after their best interests and provide the best financial solutions for their specific needs in real time. Consumer needs, wants and expectations are a major influence on product management. Developing new products is an important aspect of product management because it ensures that the range is up to date, innovative and meets changing consumer needs.