Market Overview

Key Trends in Retail Banking 2018 - Major Banks will Continue to Downsize Their Branch Network - ResearchAndMarkets.com

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The "2018:
Key Trends in Retail Banking"
report has been added to ResearchAndMarkets.com's
offering.

Several trends will drive developments in retail banking in 2018,
including factors as diverse as changes to the regulatory environment,
the development of open banking, improvements in digital servicing, and
the reconfiguring of branch networks.

This report identifies seven key trends that will shape the retail
banking market in 2018, to which providers will need to respond and
adapt.

It offers insight into:

  • The likely impact of technological developments on the retail banking
    industry in 2018.
  • Changes in the competitive and regulatory environments.
  • Which providers are making the most headway in responding to and
    taking advantage of the these trends.

Key Findings

  • Growth in open banking will be limited in 2018, with consumer
    resistance and slow progress by the largest banks being the main
    barriers. However, regulators around the world are establishing open
    banking frameworks that will boost adoption in the longer term.
  • Major banks will continue to downsize their branch network in response
    to declining footfall and a desire to cut operating costs. Remaining
    branches will be repurposed to focus on advice provision and other
    added-value activities.
  • Providers will increase efforts to improve their digital onboarding
    capabilities, using mobile image capture to automate the Know Your
    Customer process. An increasing number of providers will offer fully
    digital application procedures for complex products such as mortgages.

Companies Featured

  • Aldermore
  • Amazon
  • Bank of America
  • Chase
  • CYGB
  • Electronic IDentification
  • Funding Circle
  • Habito
  • HSBC
  • ID Now
  • iProov
  • KBC
  • Klarna
  • Lufax
  • Marcus
  • Monzo
  • N26
  • Nationwide
  • Orange Bank
  • Oval Money
  • Quicken Loans
  • Revolut
  • Shawbrook Bank
  • Starling Bank
  • Tic:Toc
  • TransferWise
  • Virgin Money
  • Wells Fargo

For more information about this report visit https://www.researchandmarkets.com/research/3d62l9/key_trends_in?w=4

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