Global Retail Banking Market to Rise at 6.08% CAGR between 2016 and 2020, Increasing Focus on Customer Connectivity Drives Growth

Published Date : Jun 14, 2016

ALBANY, NY, June 14, 2016 A new study on the global market for retail banking has been recently added to the huge repository of The report, titled “Global Retail Banking Market 2016-2020,” presents a comprehensive assessment of this market on the basis of major market trends.

According to the research study, the worldwide market for retail banking is projected to expand at a healthy CAGR of 6.08% between 2016 and 2020. The increasing focus on customer connectivity and the augmenting application of big data analytics in retail banking are expected to boost this market significantly over the forecast period. 

The market report provides an reports of a number of factors influencing the adoption of retail banking across the world. It also presents a study of each of these factors and an estimation of the level to which they are expected to impact the overall growth of this market.

As per the research study, the global market for retail banking is spread across the Americas, Europe and the Middle East and Africa (EMEA), and Asia Pacific (APAC). In 2015, the EMEA region led the overall market with a share of approximately 44%.

The retail banks in EMEA are focusing on improving their business models by utilizing digital channels, restructuring their branch networks, and adjusting customer proposition in the affluent as well as micro, small, and medium enterprises segments. This factor is driving the EMEA retail banking market remarkably. In addition to this, the increasing emphasis on implementing secured financing techniques is likely to propel this regional market substantially during the forecast period, reports the research study.

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In conclusion, analysts have also reviewed the profiles of the major market players to determine the existing market hierarchy. JPMorgan Chase, BNP Paribas, ICBC, Citigroup, and HSBC are leading the market for retail banking across the world. Other prominent participants in this market profiled in this report are Bank of America, Wells Fargo, Barclays, Deutsche Bank, China Construction Bank, and Mitsubishi UFJ Financial Group.

The major players in the retail banking market are finding massive growth potential in the emerging nations, wherein the bank-led financial inclusion model still exists. These markets are anticipated to present new channels of revenue for retail banks in the coming years, notes the market study.

This research report on the global market for retail banking is an attempt to provide a comprehensive assessment of this market, taking its historical as well as its current performance into consideration. Major market trends, driving forces, hindrances, opportunities, challenges, and growth prospects of this market have also been examined at length in this market study.

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