Australia Retail Banking Market Share, Key Trends, Emerging Opportunities, Strategies, Drivers, Outlook and Competitive Landscape

Australia Retail Banking Market Size, Share, Emerging

Opportunities, Strategies, Outlook and Competitive

Landscape: Radiant Insights

Summary

The Australian financial services market is highly developed, although it is largely dominated by its big four Commonwealth Bank (CBA), NAB, Westpac, and ANZ, which each own a number of other banks with strong brands

in the market such as St.George, Bank west, and Bank of Melbourne. The country has a very large banked

population who favor providers with good reputations and competitive rates.

Although a sizable minority of consumers have already used fintech or alternative providers, such as peer-to-peer

(P2P) lenders, skepticism about their benefits remains dominant. Usage of online has taken over branches for a

number of basic banking tasks (with mobile hot on its heels), and is growing for complex interactions, particularly

among younger consumers.

Browse Ongoing Reports @ http://www.radiantinsights.com/research/retail-banking-country-snapshotaustralia-2016

Synopsis

Verdict Financial's “Retail Banking Country Snapshot: Australia 2016” reviews the retail banking sector in Australia,

with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both

market-level data and insight from our global Retail Banking Insight Survey.

The report offers insight into:

- How consumers 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.

Key Findings

- The transactional account market is dominated by the big four, largely because consumers favor reputation and

an established brand. However, the existence of a local branch also features heavily in the decision-making

process, likely due to the...