Technological Trends in the Retail Banking Market Outlook: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Retail banking is also known as consumer banking in which large commercials banks operate conduct mass market banking using local branches as a mean of interaction between the large bank and the final consumer. The benefit of retail banking is that it let’s established banks to interact with final consumers in an efficient manner and also improves the final reach of the bank. The growth of the retail banking segment was considerably high in the recent years especially in the Asia Pacific region because banking as core sector entered various countries only after the 1990s. The future of the retail banking sector is very uncertain which can be characterized by slowing growth rate of the open banking segment primarily due to consumer resistance. Studies prove that the consumers that are availing their services are losing faith in their country’s banking system. This is due to various scams and frauds that are being done right under the authority’s nose. Largest banks are the main target for these frauds and scams which are often quite slow in adopting newer modes of regulatory standards due to their widespread retail network and highly decentralized network of operations. However, some of the major banks have recently identified this hindrance and are coming up with adequate mechanism which is considerably swift in adopting new regulatory framework. According to the study, ‘2018: KEY TRENDS IN RETAIL BANKING’, some of the major banks and organisations that operate in the retail banking segment include ldermore, Amazon, Bank of America CYGB Electronic IDentification Funding, Circle Habito, HSBC, ID Now,iProov, KBC, KlarnaLufax, Marcus Monzo, N26 Nationwide Orange Bank. Retail banks are undergoing major technological transition and require a robust mechanism that can ensure that tackling stiff competition that they are facing from rising Fintech firms. Fintech firms are using new innovative technology into the financial business aspects not only banking but also insurance. Some banks have realized their inability to compete with innovative Fintech firms are offering them an opportunity to collaborate with the large banks which could prove to be beneficial for the small firms also which take advantage of the large banks network. Banking companies are focusing on technology aspects especially in the automation of procedure. Not only this but they are also focusing on big data analytics and constructing a technological platform to support the entire infrastructure. Since the consumers are increasing usage of mobile applications, banks are also trying to roll back on the number of retail outlets in order to reduce their operating cost and are shifting to online operations. Banking companies and large organisations that are operating in this segment are developing Artificial Intelligent powered machines that can learn from the entire process and later conduct the activity on its own. The big companies in this segment hold huge market share and competition is highly consolidated with only a few companies enjoying major market share of the industry. All the major banks which are also unable to undergo the technological changes and are unable to adapt to the dynamic environment shall face challenges in the future. The new entrants shall need to establish themselves with required technological infrastructure in order to gather market share which would ultimately lead to their success. To know more, click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/banking/2018-key-trends-retail-banking/150274-93.html Related Reports https://www.kenresearch.com/banking-financial-services-and-insurance/banking/retail-banking-country-snapshot-spain-2016/91914-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/banking/retail-banking-country-snapshot-poland-2016/83621-93.html Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com +91-9015378249 Tags: Retail Banking Market Forecast, Retail Banking Market Future Outlook, Retail Banking Market Growth, Retail Banking Market Key Trends, Retail Banking Market Major Players, Retail Banking Market Overview, Retail Banking Market Research Report, Retail Banking Market Revenue, Retail Banking Market Share, Retail Banking Market Size, Retail Banking Market Swot Analysis