“People who are considering switching banks are the most likely to opt in to sharing their financial data with third parties. This suggests that upcoming Open Banking regulations may help to boost competition in the retail banking sector, as those in the market for a new provider could be won over by personalised deals and a streamlined application process.
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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
Economic and Regulatory Environment
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
Switching Intentions
Consumer Pain Points
Important Factors when Choosing Provider
Barriers to Switching
Open Banking Incentives
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
Competitive Strategies
Advertising and Marketing Activity
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
29th June 2018
“Recently, TSB has faced some major issues with its online banking services, which will likely compound consumer concerns about challenger banks. However, issues like these give brands an opportunity to showcase their customer service, as brands that respond quickly and visibly will reassure and rebuild consumer trust.” 
12th June 2018
"First Direct’s move from offering switchers cash to a choice of gift is a bold change in direction. The gifts on offer appear designed to appeal to tech-savvy individuals, matching the bank’s brand identity. In a world of low interest rates, the move may push more financial brands to offer ...
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Switching bank: more hassle than it’s worth?
