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Fatpos Global

Retail banking Market Competitive Analysis with Size & Share Research and Forecast to 2030

September 8th, 2021 9:15 AM

Retail banking, also known as consumer banking, is a form of mass-market banking in which individual consumers use smaller commercial banks’ local branches. It provides savings and checking accounts, mortgages, personal loans, debit/credit cards, and certificates of deposit, among other services. Individuals and families can use retail banking to get financial services. The primary aim of retail banking is to provide consumer credit for the purchase of homes, vehicles, and other products. Customers can also open a checking account, a current account, an ATM card, a credit card, a savings account, or a certificate deposit. Anti-money laundering procedures require all banks to thoroughly scrutinize all of the documents they approve when offering retail banking services. Customer satisfaction is critical for retail banking sustainability, which has resulted in increased customer support across the industry. Transactional Accounts, Savings Accounts, Debit Cards, Credit Cards, Loans, and Others are the various types of items. Hardware, software, and services are examples of retail banking applications.

Global Retail Banking to surpass USD million by 2030 from USD million in 2020 at a CAGR of 6.9 % in the coming years, i.e., 2021-30. Over the next few years, the Retail Banking Market is expected to be driven by a rising emphasis on consumer connectivity and enhanced monitoring capabilities. In addition, retail banks’ provision of easy access to credit is expected to fuel the market in the coming years. Furthermore, banks are concentrating more on improving the customer experience by offering lower interest rates. During the forecasted years, this is expected to fuel the market.

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  • Market size & share analysis
  • Top market players with sales, revenue, and business strategies analysis
  • Market growth drivers and restraints
  • Market opportunities & challenges
  • Research methodology

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Global Retail Banking Market: Key Players

  • Barclays
  • HSBC Group
  • Bank of America Leasing & Capital, LLC
  • Deutsche Bank
  • Mitsubishi UFJ Financial Group
  • Citigroup, Inc.
  • BNP Paribas Leasing Solution
  • JPMorgan Chase & Co.
  • China Construction Bank
  • Other Prominent Players

Global Retail Banking Market: Segments

PSBs segment to grow with the highest CAGR during 2020-30

Global Retail Banking Market is segmented by type into Public Sector Banks (PSBs), Private Sector Banks, and Foreign Banks. PSB segment held the largest market share in the year 2020. PSBs have a greater market share because they have developed a reputation in the marketplace. These banks are expected to gain a greater market share in the coming years as their balance sheets improve, they become more competitive, and their governance improves.

Hardware segment to grow with the highest CAGR during 2020-30

Global Retail Banking Market is segmented by Solution into Hardware and Software. Over the forecast period, the Hardware segment is projected to expand at the fastest pace. Automated Teller Machines (ATMs) are retail banking hardware solutions. They’re commonly used and have a loyal following. Retail banks have common tech solutions such as card processing, payment processing, electronic commerce solutions, and check processing.

Retail segment to grow with the highest CAGR during 2020-30

Global Retail Banking Market is segmented by service into Transactional Accounts, Savings Account, Debit and Credit Cards, Loans and Others. Retail segment held the largest market share in the year 2020. Retail banks’ provision of easy access to credit is expected to fuel the market in the coming years.

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Market Dynamics

Drivers

Enhanced monitoring capabilities and easy credit access

Surging demand of Retail Banking from numerous end-user industries is the key factor contributing in market growth. Over the next few years, the Retail Banking Market is expected to be driven by a rising emphasis on consumer connectivity and enhanced monitoring capabilities. In addition, retail banks’ provision of easy access to credit is expected to fuel the market in the coming years. Furthermore, banks are concentrating more on improving the customer experience by offering lower interest rates. During the forecasted years, this is expected to fuel the market.

Restraint

Increased market regulation and rise in loan losses

There are a variety of restrictions and obstacles that could stymie business expansion. Market restrictions are likely to be imposed by factors such as increased regulation and a rise in massive loan losses.

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Global Retail Banking Market report also contains analysis on:

Retail Banking Market Segments:

  • By Type:
    • Public Sector Banks (PSBs)
    • Private Sector Banks
    • Foreign Banks
  • By Solution
    • Hardware
    • Software
  • By Service
    • Transactional Accounts
    • Savings Account
    • Debit and Credit Cards
    • Loans
    • Others

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About us

Fatpos Global is a consulting and research firm focused on market research, business services, and sourcing. We have trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness.

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