Serving recent migrants among niches targeted by new digital banks
Albany, NY -- (SBWIRE) -- 07/24/2017 -- "New Entrants: Mapping the Landscape", report examines some of the most interesting and significant new entrants in the UK, the US, and Europe. This report is based on interviews with industry figures and secondary research.
Market conditions around the world have not historically been particularly friendly to new banking entrants. Stringent regulations have presented formidable barriers to entry, and only a minority of consumers express enthusiasm for banking with new providers. However, regulators in the UK, EU, and elsewhere are trying to make it easier for new providers to enter the market, and a number of new banks have commenced operations, with the UK proving a particularly popular location.
The report offers insight into -
- How regulators around the world are trying to create a more accommodating environment for new entrants.
- The key propositions and characteristics of the most noteworthy new entrants in the UK and beyond.
- What strategies new entrants should employ to maximize their chances of success.
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- Consumer mobility in developed markets is low, and switching rates in the UK are falling. Only a small proportion of consumers are willing to use digital-only banks, and adoption will be slow in the short term.
- Regulators in the UK and EU are initiating open banking policies to promote competition, and many authorities have set up regulatory sandboxes to make it easier for start-ups to test their propositions.
- The UK is the single most popular market for new financial providers, with entrants such as Starling Bank, Monzo, and Atom Bank all having launched in the last few years.
Reasons to buy
- Discover how receptive consumers in global markets are to new entrants, and how the regulatory environment is changing.
- Learn about the key new entrants in the UK, France, Germany, and the US and what sets them apart from their competitors.
- Assess the future prospects of these providers.
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