What is Digital-Led Retail Banking Market?
Retail banking is generally known as consumer banking and thereby refers to the services that the various banks provide for their individual customers. Retail businesses include checking and savings accounts, mortgages, credit cards, and auto loans. Digitally managed retail banking refers to retail banking such as account opening, money transfers; and loans and debit cards, including only via the online method. The digital retail business offers convenience and access to a whole new level by providing integrated account services in an easy-to-use manner. The main advantages of the digitally managed private customer business include fast customer acquisition, an improved customer experience, faster development of new and innovative products and services, lower operating costs, and less dependency on a costly property, plant, and equipment.
The market study is being classified by Type (Software and Service), by Application (Transactional Accounts, Savings Accounts and Loans) and major geographies with country level break-up.
Starling Bank (United Kingdom), BNP Paribas (France), Revolut (United Kingdom), N26 (Germany), Babb (United Kingdom), Citigroup (United States), Zopa (United Kingdom), Ffrees (United Kingdom), Fidor Bank (Germany), Iam Bank (United States), Atom Bank (United Kingdom) and Monzo (United Kingdom) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Players will contribute to the maximum growth of Global Digital-Led Retail Banking market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Digital-Led Retail Banking market by Type, Application and Region.
On the basis of geography, the market of Digital-Led Retail Banking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Rapid Adoption of Online & Mobile Banking Platforms
- The Rising Number of Internet Users and Adoption of Smartphones
- Digitalizing Of Organizational Business Functions to Serve Changing Customer Preferences and Enhance Operational Efficiency
- An Upsurge World Banking Institutes Are Shifting Toward Digital Channels to Deliver Their Services by Collaborating With Fintech Companies to Develop More Customer-Centric Products and Provide an Excellent Customer Experience
- Rising Security Issues of Internet Infrastructure
- Technological Advancement in Online and Mobile Banking
- Increasing Awareness about the Benefits of Online and Mobile Banking among Consumers
- The Threat of Data Hacking
Market Leaders and some development strategies
On 3rd September 2018, BNP Paribas had acquired ABN AMRO Bank (Luxembourg) S.A. and its fully owned subsidiary ABN AMRO Life S.A. This deal was hereby approved by the various competent regulatory authorities.
On 26th March 2018, Citibank had launched its new mobile skills on the Citi Mobile App for iPhone so as to serve a full spectrum of client requirements countrywide.
Key Target AudienceProviders of Digital-Led Retail Banking, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
Customization in the Report Available:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase