Retail Banking Country Snapshot: Spain 2016

2017-03-10
Price :
Published : Mar-2017
No. of Pages : 49

Retail Banking Country Snapshot: Spain 2016

Summary

“Retail Banking Country Snapshot: Spain 2016” reviews the retail banking sector in Spain, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our Retail Banking Insight Survey.

The Spanish banking sector is highly consolidated, with a handful of large banks controlling a significant market share. Product ownership rates are high, particularly for current and savings accounts, and consumers mostly favor providers they have an existing relationship with. Both younger and older age groups use branches often, meaning there is considerable scope for providers to encourage greater use of digital channels. Internet penetration in Spain is low, and providers thus need to maintain a multi-channel approach or focus on specific geographical areas in the country. Domestic and foreign banks have made investments in low-cost distribution channels such as mobile banking.

The report offers insight into –

– How consumers in Spain take out and use their financial products, and how this has changed in recent years.

– Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.

– The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.

Scope

– The current account market is highly concentrated, and consumers tend to choose providers on the basis of reputational factors and accessibility.

– Branches dominate channel usage in Spain. However, satisfaction with online is the highest and it is the preferred channel for routine transactions. Mobile is mainly preferred by younger consumers who are the most eager users of smartphone apps.

– Trust and Responsibility are the highest rated attitudes, meaning consumers value honesty and the ability to make their own decisions more than anything else.

Reasons to buy

– Futureproof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Spain’s retail banking sector.

– Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.

– Learn about the impact that new entrants and distribution channels will have on the market.

Filed in: Uncategorized
Publisher : GlobalData
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