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Company Insights
Bank Mandiri - Digital Transformation Strategies
Bank Mandiri Digital Transformation Strategies Report Overview Bank Mandiri is tapping into key disruptive technologies, including AI, big data, cloud, and digital banking, among others, to digitally transform its operations. The annual ICT spending of Bank Mandiri was estimated at $678.6 million for 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Bank Mandiri was established on October 2, 1998. In July 1999, four state-owned banks—namely Bank Exim, Bank Dagang Negara,...
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Company Insights
Bank Syariah Indonesia - Digital Transformation Strategies
This report provides insight into Bank Syariah Indonesia's fintech activities, including its digital transformation strategies, its innovation programs, and its technology initiatives. Bank Syariah Indonesia was established in 2021 following the merger of three Islamic banks: Bank BRI Syariah, Bank Syariah Mandiri, and Bank BNI Syariah. The new entity provides Sharia-based financial solutions to both individual and business customers in Indonesia. It offers savings accounts, hajj and umrah savings services (savings in Rupiah or US$ for the hajj and umrah...
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Company Insights
Macquarie Bank - Digital Transformation Strategies
Macquarie Bank Digital Transformation Strategies Report Overview Macquarie Bank is tapping into key disruptive technologies, including artificial intelligence, big data, cloud, digital banking, online payments, mobile payments, and cybersecurity to digitally transform its operations. The annual ICT spending of Macquarie Bank is estimated at $212.0 million for 2022. A major share of this spending is earmarked for acquiring software, network and communications, and ICT services from vendors. Macquarie Bank is the banking subsidiary of the Macquarie Group, an Australian company...
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Analyst Opinions
Sweden Retail Banking Analysis by Consumer Profiles (Older Gen Z, Gen X, Boomer, Younger Millennial and Millennial)
Sweden Retail Banking Analysis Report Overview The following personas have been created through a cluster analysis (Calinski-Harabasz criterion) of GlobalData’s 2022 Financial Services Consumer Survey, to understand Swedish survey respondents and their attitudes, preferences, and unmet needs.  The following are some of the key highlights of the Sweden retail banking market: One of the strongest retention areas of the bank includes the satisfying products and services offered to the Older Gen Z. Boomer is the oldest persona of the Swedish...
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Company Insights
TD Bank - Enterprise Tech Ecosystem Series
TD Bank Digital Transformation Strategies Report Overview The Toronto-Dominion Bank (TD Bank) has been focusing on using artificial intelligence, mobile, cloud, big data, and fintech to digitally transform its operations. The annual ICT spending of TD Bank was estimated at $1.5 billion for 2022. A major share of this spending is earmarked for acquiring software, consulting, and hardware from vendors. TD Bank provides retail and corporate banking, wealth management, and related financial solutions. It offers accounts, cards, certificates of deposits,...
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Analyst Opinions
Retail Banking Country Snapshot: Malaysia 2016
Malaysia is a mature market, albeit still developing in many aspects. Our research shows that the country’s consumers are very similar to those in developed nations in terms of embracing the convenience brought to banking through digital platforms – and banks in Malaysia have been quick to act on this potential. With a healthy economy and a bright outlook over the next few years, the market presents significant opportunities for providers across the retail banking spectrum.
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Analyst Opinions
Retail Banking Country Snapshot: Taiwan 2016
Taiwan has an advanced but overcrowded financial services market. Ownership of the key financial products is widespread, with consumers favoring providers that have a good reputation and with which they have an existing relationship. Although internet and mobile services are comprehensively available, local consumers still demonstrate a preference towards the branch channel over digital, in part due to Taiwan’s urban structure facilitating branch access.
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Analyst Opinions
Retail Banking Country Snapshot: Australia 2016
The Australian financial services market is highly developed, although it is largely dominated by its big four – Commonwealth Bank (CBA), NAB, Westpac, and ANZ, which each own a number of other banks with strong brands in the market such as St.George, Bank west, and Bank of Melbourne. The country has a very large banked population who favor providers with good reputations and competitive rates. Although a sizable minority of consumers have already used fintech or alternative providers, such as...
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Analyst Opinions
Retail Banking Country Snapshot: Germany 2016
Local and co-operative banks, such as the Sparkassen and Volksbanken Raiffeisenbanken, dominate the retail banking market in Germany, with private commercial banks having a much smaller presence. Consumers strongly favor providers with good reputations, and personal recommendations are particularly important to younger age groups. Branches remain the most used acquisition channel across all products, although satisfaction levels for ongoing interactions are higher for digital than human channels.
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Analyst Opinions
Retail Banking Country Snapshot: China
The Chinese banking market is opening up to new entrants in order to encourage greater competition within the sector, and investment in banking infrastructure is likely to speed up digital expansion. The market for financial services in China is concentrated, with an oligopoly of five banks that service 72% of the market. Younger age groups use branches more often, meaning there is considerable scope for providers to encourage greater use of digital channels.
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