New York, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "United Kingdom (UK) Retail Banking 2020 - Review, Forecasts, and Future Opportunities" - https://www.reportlinker.com/p05948610/?utm_source=GNW
A V-shaped recovery is expected and could potentially see growth post-COVID-19 follow similar trends and rates to those pre-COVID-19.
Following a decade of austerity, a return to this policy to reduce the deficit and debt incurred during the COVID-19 period is unlikely due to the political consequences for the government. Plans to level up and rebalance the economy are expected to continue on track, while tax cuts and the relaxation of regulation and red tape are expected to boost growth and kick-start the economy.
This report explores trends in the retail banking sector and offers insight into consumer preferences and behaviors.It highlights some of the most important data points available on the performance of the sector comparable to other markets, as well as the performance and perception of firms within the industry.
New trends and innovations are also noted, as are the implications of COVID-19 for the sector.
Scope
- The largest five providers of credit cards have seen their share of the UK credit card market remain at 69% over the last eight years.
- Barclays and Bank of Scotland consistently rank lowest of all competitors measured with regards to digital channel usage while ranking highly for branch usage.
- Nationwide and First Direct have invested heavily in digital infrastructure and consequently rank highest across primary activities such as checking current account balances or sending money to others.
- Younger and more affluent users prefer and are open to using a wider range of service providers than older and less affluent users.
Reasons to Buy
- Identify factors affecting growth prospects across the deposit, credit card, personal loan, and mortgage markets.
- Track competitor gains and losses in market share, as well as consumer perceptions of competitors’ performance.
- Learn about how channel preferences have evolved in recent years.
- Discover changes in attitudes towards digital-only banks.
- Explore the importance placed on the various attributes of financial service providers analyzed by age and income.
Read the full report: https://www.reportlinker.com/p05948610/?utm_source=GNW
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United Kingdom (UK) Retail Banking 2020 - Review, Forecasts, and Future Opportunities
Summary Growth in the UK retail banking sector has been consistent over the past decade following the global financial crisis, although COVID-19 will significantly alter trajectories and forecasts in 2020 and 2021.
| Source: ReportLinker