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Sector Analysis
Retail Banking Country Snapshot: Singapore
Singapore has an advanced financial services market. Consumers are generally conservative in choosing a provider, with a bias towards those they perceive to offer financial stability and a longstanding reputation. Singaporean consumers prefer the branch for nearly all of their banking requirements. NPS scores are low across all four products compared with other markets in the region. Channel usage patterns indicate that Singaporean consumers are less engaged with their banks than consumers in other regional markets.
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Sector Analysis
Retail Banking Country Snapshot: UAE
UAE has a well-diversified and sound financial system that plays an important role in the economy. The retail banking sector is rapidly growing due in part to the country’s increasing expatriate population. Product ownership rates are high, particularly for current and savings accounts. Emirati consumers retain a traditional attitude towards provider choice, favoring banks with which they have a prior relationship. Product application is still largely conducted via branches, meaning there is considerable scope for providers to encourage greater use of digital...
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Sector Analysis
The Cards and Payments Industry in Saudi Arabia: Emerging Trends and Opportunities to 2019
This report provides market analysis and insights into Saudi Arabia's cards and payments industry, with current and forecast values for main payment instruments including: debit cards, credit cards and charge cards. In addition to a full assessment of the competitive landscape, the report also contains a analysis of the overall payments market, prepaid cards market, as well as an overview of Saudi Arabia's key alternative payment instruments.
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Sector Analysis
Consumer Payments Country Snapshot: France
Issuers are getting contactless cards into the hands of consumers, but many are either unconvinced of the technology’s benefits or concerned about security. Payment providers will need to invest in educating consumers on the benefits of contactless technology and strengthening the technology’s value proposition. E-commerce continues to account for the vast majority of online purchases in France. However, m-commerce is gaining ground, with its share of online purchases quickly growing from 1% in 2010 to 12% in 2014. Payment providers...
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Sector Analysis
Retail Banking Market Insights: Norway
The banking sector in Norway is concentrated, with the top three providers accounting for 59% of main current accounts. Norwegian consumers tend to choose providers on the basis of reputational factors and an existing relationship. 11% consumers in Norway have switched their accounts in the last 12 months, which is the highest in the region. However, it is still below the global average. Norwegian savers are cautious, with around two-thirds saving to protect themselves against unforeseen events and over a...
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Analyst Opinions
UK IFAs, Investment Managers, & Platforms
The attractiveness of platforms is first and foremost driven by the investment fund range they offer. Another key consideration is investment fund returns. Beyond products and performance, low costs are important to advisors. Investment product providers are regularly reviewed by IFAs. 30% review their investment product providers quarterly and 45% do so annually. Platform sales account for a growing percentage of gross retail fund sales. 94% of advisors use platforms, with the majority relying on more than one. The three...
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Sector Analysis
2016: Key Trends in Consumer Payments
Strong emphasis will be placed on positioning mobile wallets as a mainstream alternative to cash and cards, with building merchant acceptance levels a top priority in the near term. Registration incentives, and usage rewards will be commonly used tactics to drive consumer uptake within the space. Regulators and industry standard-setting bodies will issue more explicit rules and guidelines for online and mobile payment security. The sharing of cyber security threat data between the government and businesses will form a crucial...
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Sector Analysis
Retail Banking Country Snapshot: Spain
The banking sector in Spain is concentrated, with the top three providers accounting for 51% of main current accounts. Spanish consumers tend to choose providers on the basis of branch location and reputational factors. Switching rates are low in Spain compared to the global average of 17%. Pull factors prompt consumers to switch providers. Spanish savers are cautious, with around two thirds saving to protect themselves against unforeseen events and one third saving for retirement. A desire for value for...
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Sector Analysis
Wealth in Singapore: Sizing the Market Opportunity
Singapore is one of the world’s pre-eminent offshore investment centers, with 81% of the wealth invested in funds sourced from non-residents. However, the onshore market is a major source of assets under management (AUM) in its own right, with 1.0 million affluent individuals despite the city state’s small population. As a regional trading hub Singapore’s growth rates are closely tied to the health of regional powerhouses such as China, India, and Indonesia; however, even with growth slowing in some of...
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Sector Analysis
Wealth in Turkey: Sizing the Market Opportunity; Sizing the wealth market in Turkey and its growth potential.
While growth in Turkey’s economy has slowed thanks to a number of economic and geopolitical challenges, the country’s small affluent population will continue to increase at a healthy rate. The retail savings and investments market is dominated by deposits, though stronger growth is predicted for the smaller asset classes such as equities and mutual funds. The offshore market remains important, accounting for around 25% of HNW portfolios, with tax efficiency and client anonymity the primary drivers for holding assets overseas.
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