Unlocking Secrets: Insight from the 2010 UK Retail Banking Survey
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Introduction
The retail banking consumer has endured adverse financial conditions in the UK over the past three years. With tentative signs of optimism slowly returning to the markets, the retail banking consumer’s needs, wants and expectations of the financial sector have changed.
Scope
- Analyses the findings of Datamonitor’s UK Retail Banking consumer survey 2010
- Considers consumer behavior regarding different retail banking products including switching behavior
Unlocking Secrets: Insight from the 2010 UK Retail Banking Survey
Highlights
Debit cards are the current account feature valued most highly by current account holders. Among the other most important features includes Strong anti-fraud measures, online banking facilities, free ATM withdrawals overseas and a good reputation. Conversely, consumers value bundled packages, large overdraft facilities and mobile banking the least.
Reasons to Purchase
- Identity new distribution opportunities by identifying what consumers value the most in a financial service provider
- Make informed decisions by understanding consumer’s behavior and attitudes towards different financial products
- Understand how demographics influence consumer’s attitudes to debt and where the opportunities among different consumer groups lie
