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Insight Report: Current Accounts - Emerging Trends, Product Insights and Case Studies - Product Image

Insight Report: Current Accounts - Emerging Trends, Product Insights and Case Studies

  • ID: 2886707
  • July 2014
  • 76 Pages
  • Timetric
Overdraft facilities have been a key driving factor for increasing banks’ revenues and profits, with charges or interest rates levied on the amounts withdrawn

FEATURED COMPANIES

  • Absa Bank
  • Barclays
  • Commerzbank
  • GLS Bank
  • Itau
  • Postbank
  • MORE

The report discusses the various trends relating to current accounts – also known as checking accounts – across the world, and the strategies adopted by banks to increase profitability:
- It highlights emerging trends in the current account markets in America, Europe, Asia-Pacific, and the Middle East and Africa
- It discusses key drivers fueling demand for current accounts, and key issues and challenges faced by banks across various regions.
- It provides analytical insights into the key emerging trends of the current markets arising because of the regulatory and economic developments in these regions
- It provides a competitive assessment of the current accounts offered by the leading lending banks in key developed and emerging economies.

Summary
Due to changes in regulatory frameworks and competitive dynamics, retail banking and its current account business have changed gradually during the last decade. Despite initiatives taken by banks to retain customers, the current accounts market in developed economies recorded growing instances of account switching. Improved customer service, attractive reward programs and financial incentives offered by READ MORE >

Overdraft facilities have been a key driving factor for increasing banks’ revenues and profits, with charges or interest rates levied on the amounts withdrawn

FEATURED COMPANIES

  • Absa Bank
  • Barclays
  • Commerzbank
  • GLS Bank
  • Itau
  • Postbank
  • MORE

1 Executive Summary
2 Global Snapshot – Current Account Market Dynamics
2.1 Assessment of Market Trends
2.2 Key Drivers
2.3 Challenges
3 The Americas
3.1 Emerging Trends
3.2 Product Comparison
3.2.1 Product comparison – the US
3.2.2 Production comparison – Canada
3.2.3 Product comparison – Brazil
3.3 Strategies
4 Europe
4.1 Emerging Trends
4.2 Product Comparison
4.2.1 Product comparison – the UK
4.2.2 Product comparison – Germany
4.3 Strategies
5 Asia-Pacific
5.1 Emerging Trends
5.2 Product Comparison
5.2.1 Product comparison – Australia
5.2.2 Product comparison – India
5.3 Strategies
6 The Middle East and Africa
6.1 Emerging Trends
6.2 Product Comparison
6.2.1 Product comparison – UAE
6.2.2 Product comparison – South Africa
6.3 Strategies
7 Case Study
7.1 First Direct – Upfront Incentives Encourage Customers to Switch to its Current Accounts
7.2 Bank of America – “Keep the Change” Initiative to Acquire Customers
7.3 T-Mobile – Mobile-Based Checking Accounts in the US
7.4 Union Bank – Empowering Customers to Create their own Current Accounts
7.5 HDFC Bank – Implementation of Effective Customer Segmentation and Distribution Strategies
7.6 Absa Bank – Introduction of Packaged Current Accounts
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 Disclaimer

List of Tables
Table 1: Global Current Market Snapshot – Emerging Trends and Strategies Adopted
Table 2: Economic Conditions in Key Markets, 2009 and 2013
Table 3: Debit Cards – Volumes in Key Countries (Million), 2009–2018
Table 4: New Businesses Registered in Key Countries, 2009–2012
Table 5: Unbanked Populations in Key Developing Economies, 2013
Table 6: Open-Loop Prepaid Cards Segment Value (US$ Billion), 2009–2018
Table 7: Canada – Current Accounts With Low Charges
Table 8: The US and Canada – Online and Mobile Penetration, 2013
Table 9: The US – Checking Account Types, March 2014
Table 10: The US – Basic Checking Accounts, March 2014
Table 11: The US – Premier Checking Accounts, March 2014
Table 12: The US – Student Checking Accounts, March 2014
Table 13: Canada – Checking Account Types, March 2014
Table 14: Canada – Everyday Banking and Checking Accounts, March 2014
Table 15: Canada – Unlimited Banking Current Accounts, March 2014
Table 16: Brazil – Current Account Types, March 2014
Table 17: Brazil – University Current Accounts, March 2014
Table 18: Brazil – Business Current Accounts, March 2014
Table 19: The UK – Current Account Types, 2014
Table 20: The UK – Basic Current Accounts, March 2014
Table 21: The UK – Graduate Current Accounts, March 2014
Table 22: Germany – Current Account Types, 2014
Table 23: Germany – Basic Current Accounts, March 2014
Table 24: Germany – Premium Current Accounts, March 2014
Table 25: The UK – “With Benefits” Current Accounts
Table 26: Asia-Pacific – Current Accounts With Low Banking Charges
Table 27: Australia –Transaction Account Types, March 2014
Table 28: Australia – Everyday Banking, March 2014
Table 29: Australia – Everyday Business Accounts, March 2014
Table 30: India – Current Account Types, March 2014
Table 31: India – Regular Current Accounts, March 2014
Table 32: India – Agri-Current Accounts, March 2014
Table 33: Asia-Pacific – Current Accounts for Specific Customer Segments
Table 34: The Middle East and Africa – Economic Indicators, 2013–2018
Table 35: The UAE – Current Account Types, March 2014
Table 36: The UAE – Current Accounts, March 2014
Table 37: The UAE – Business Current Accounts, March 2014
Table 38: South Africa – Current Account Types, March 2014
Table 39: South Africa – Basic Current Accounts, March 2014
Table 40: South Africa – Small Business Current Accounts, March 2014
Table 41: The Middle East and Africa – Specific Current Accounts for High-Income Customers
Table 42: The Middle East and Africa – Specific Current Accounts for Students and Young People
Table 43: HDFC Bank – Current Accounts for Specific Customer Segments

List of Figures
Figure 1: Percentage of Respondents Forming New Primary Relationships With Banks, 2013
Figure 2: The US – Free Checking Accounts (%), 2009–2013
Figure 3: The Americas – Open-Loop Prepaid Card Growth Rates, 2009–2018
Figure 4: Europe – Users of Mobile Banking, July 2013

Overdraft facilities have been a key driving factor for increasing banks’ revenues and profits, with charges or interest rates levied on the amounts withdrawn

JPMorgan Chase Bank
Wells Fargo
Citibank
Bank of America
U.S. Bank
RBC Royal Bank
TD Canada Trust
CIBC
Scotiabank
Bank of Montreal
Banco do Brasil
Bradesco
HSBC Bank Brazil
Itau
Barclays
HSBC
RBS
Lloyds Bank
Santander
Deutsche Bank
Commerzbank
GLS Bank
Postbank
National Australia Bank
Westpac
The Australia and New Zealand Bank
Commonwealth Bank
Suncorp Bank
HDFC Bank
Axis Bank
ICICI Bank
ING Vysya Bank
Kotak Mahindra Bank
Abu Dhabi Commercial Bank
Union National Bank
Dubai Islamic Bank
Emirates NBD
Barclays Bank UAE
Nedbank
Absa Bank
First National Bank
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