“The traditional retail banking providers continue to retain a dominant share of the market, despite the threat posed by challenger banks and innovative FinTech firms. However, the implementation of Open Banking by 2018 poses another threat, by making it easier for consumers to identify where they could get better value elsewhere. This could lead to higher rates of switching, but is likely to have the biggest impact on providers themselves ...
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Overview
Overview
This report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Overview
Executive Summary
Issues and Insights
Market
Market
Mintel provides a range of market information across categories including: forecasting and share information; internal and broader market environment information; and the issues that affect the market in question.
The Market – What You Need to Know
Market Overview
Consumer
Consumer
Mintel conducts exclusive and original consumer research for reports, bringing up-to-date and unique insight to topical issues. This research examines the impact of social, economic, cultural and psychological influences on consumers.
The Consumer – What You Need to Know
Product Ownership and Cross-sales
Interest in Personalised Banking Services
Overall Satisfaction with Main Provider
Satisfaction with Retail Banking Services
Attitudes towards Retail Banking Services
Brand/Company
Brand/Company
Our brand research provides data and informed analysis across a number of consumer metrics including usage, satisfaction, recommendation, momentum and trust. It also explores consumer attitudes towards brands and examines the reasons behind these.
Companies and Brands – What You Need to Know
Market Share
Company Strategies
Brand Communication and Promotion
Data
Data
Reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
Appendix – Data Sources, Abbreviations and Supporting Information
Appendix – Banking Channels – Frequency of Use
31st August 2017
“The opportunities presented by Open Banking will stretch beyond the financial services industry. Retail, utility, leisure and travel companies are among those which could benefit from the release of open APIs by plugging in to banks’ marketplaces to create bespoke offers”. 
30th June 2017
“With the likes of Monzo, Starling and B having already launched app-based current accounts, there is a risk that delaying its own offering means Atom will already have been left behind by its fellow digital challengers.”
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Cross-selling in retail banking driven by customer inertia
