|
|
 |
|
Viewing report
|
|
|
|
Banking on Change: UK Current Accounts
Datamonitor, Aug 2010, Pages: 82
This report considers the latest developments in the UK Current Account market and looks at whether competition is returning to the market after the fallout from the credit crunch. It investigates key market issues such as regulation and consumer attitudes towards their current accounts as well as the impact of new entrants. It concludes with a consideration of the future direction of the market.
Scope
- Analyses consumer attitudes and behavior regarding their current account.
- Presents competitor data in terms of market share but also in terms of overdraft usage and tenure of account holding.
- Considers the impact of current and future regulatory measures on the market.
- Investigates the likely impact of new entrants into the sector.
Highlights of this title
'Free' banking is expected to remain available to current account holders for at least the next two years. The large banks are currently more concerned about rebuilding their battered reputations after the financial crisis than bringing in a blanket fee-paying model across their account offering.
Consumers have looked to reduce their reliance on their overdraft facility. The regularity of overdraft usage declines with age as the wealth that consumers accrue through their lifetime reduces their need to borrow. The percentage of current account holders without an overdraft facility grew by 17.7 percentage points between 2009 and 2010.
Current account switching remains low, with only around 7% having switched their account in the last year. However, this has not prevented current account providers from trying a variety of different methodologies to tempt consumers to switch from their rivals. The most prominent method being a cash incentive.
Key reasons to purchase this title
- Gain insight on consumer behavior from The proprietary Financial Services Consumer Insights and Retail Banking Consumer Surveys.
- Use The competitor share metrics to benchmark your performance against that of your competitors.
- Read about industry opinions on the best time to acquire younger consumers.
Customers who bought this item also bought
UK Current Accounts 2008
Debit Cards as Profit Drivers - 4th Edition
Strategic Excellence in Payment Card and Bank-wide Loyalty Schemes- 3rd edition
Packaged Accounts - Bundling Boosts Business
Reg E and Overdrafts: How Financial Institutions Can Use Mobile to Increase Profits Post Reg E
Debit Cards - Global Strategic Business Report
UK Plastic Cards 2009
UK Plastic Cards 2010
Payments Regulation and Consumer Expectations: How to Best Manage the Changes Ahead
Tesco Bank and Virgin Money: Can Banking without the Banks Work?
|
|
|
|
