Retail Banking Market Scope
Retail Banking is the type of business directed by financial institutions directly with clients. There are various application of retail banking such as savings and transactional accounts, debit cards, credit cards, personal loans, and mortgages. Retail banking institutions need strong credit assessment ability, strong possessing ability, well-organized documentation, professional human resource and constant follow-up. Additionally, Retail banking is also considered as a mass market banking for single clients who make use of local branches of larger commercial banks.
According to AMA, the Global Retail Banking market is expected to see growth rate of 6.4%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Retail Banking market throughout the predicted period.
BNP Paribas (France), Citigroup (United States), HSBC (United Kingdom), ICBC (Canada), JPMorgan Chase (United States), Bank of America (United States), Barclays (United Kingdom), China Construction Bank (China), Deutsche Bank (Germany) and Mitsubishi UFJ Financial Group (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Wells Fargo (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Retail Banking market by Type (Public Sector Banks (PSBs), Private Sector Banks (OGPVSBs) and Foreign Bank (FNB)), by Application (Savings and Checking Accounts, Mortgages, Personal Loans, Debit/Credit Cards and Certificates Of Deposit (Cds)) and Region with country level break-up.
On the basis of geography, the market of 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).
Market Leaders and their expansionary development strategies
On 3rd September 2018, BGL BNP Paribas has acquired ABN AMRO Bank (Luxembourg) S.A. and of its fully owned subsidiary ABN AMRO Life S.A. This deal was approved by the competent regulatory authorities.
On 19th September 2018, BNP Paribas has established global social framework with UNI Global Union. The deal applied for 200,000 Group employees in 73 countries. They will enable the Bank to further improve the quality of life and working conditions. and On 26th March 2018, Citibank has launched new mobile skills on the Citi Mobile App® for iPhone to serve the full spectrum of client requirements countrywide.
Market Trend
- Adoption of Big data Analysis
- Increasing Demand Due to Reduce Operational Task
Market Drivers
- Rapid Access to Credit
- Rising Use of Innovative Strategies
Opportunities
- Upgrades and integration of technology for Retail banking
Restraints
Key Target Audience
Retail Banking Service Provider, Banking Industry, Industry Associations and Experts, Private Research Institutes, Government Regulatory Bodies, Government and Research Organization and Others