Retail
Banking Country Snapshot: New Zealand is a new market research
publication announced by Reportstack. New Zealand has a highly
concentrated market for most financial products, with ANZ, ASB, and
Westpac dominating the provision of current accounts, savings accounts,
and mortgages. Consumers are cautious in their choice of provider,
favoring those with strong reputations and nearby branches. Mobile is
now a significant channel for routine transactions, although use is
heavily skewed towards younger age groups. Satisfaction with digital
channels is significantly higher than for branches and call centers.
Key Findings
- Among consumers as a whole, reputation and branch location are the two most influential drivers of choice of current account provider, and are particularly important to post-family consumers. Younger consumers are particularly reliant on personal recommendations.
- Borrowers overwhelmingly prefer direct application for mortgages, with 70% of all current borrowers having chosen this option. However, this has fallen slightly over time, while independent financial advisors and specialist brokers have both claimed a rising share of the market.
- Online is the most heavily used banking channel, with a third of consumers engaging with it every day. Older consumers are as reliant on it as younger consumers. The channel is mature and hence boasts high levels of usability and functionality that appeal equally to all age groups.
To view the table of contents and know more details, please visit Retail Banking Country Snapshot: New Zealand.
Synopsis
“Retail Banking Country Snapshot: New Zealand 2016” reviews the retail banking sector in New Zealand, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our Retail Banking Insight Survey.
The report offers insight into:
- How consumers in New Zealand take out and use their financial products, and how this has changed in recent years.
- Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
- The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Reasons To Buy
- Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting New Zealand's retail banking sector.
- Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
- Learn about the impact new entrants and distribution channels will have on the market.
Companies Mentioned
ASB ANZ BNZ Harmony Heartland Bank Kiwi bank LendMe Lending Crowd Squirrel Money Westpac.
Contact:
Debora White
Manager - Marketing
debora@reportstack.com
Ph: +1-888-789-6604
Reportstack Market Research
###
Key Findings
- Among consumers as a whole, reputation and branch location are the two most influential drivers of choice of current account provider, and are particularly important to post-family consumers. Younger consumers are particularly reliant on personal recommendations.
- Borrowers overwhelmingly prefer direct application for mortgages, with 70% of all current borrowers having chosen this option. However, this has fallen slightly over time, while independent financial advisors and specialist brokers have both claimed a rising share of the market.
- Online is the most heavily used banking channel, with a third of consumers engaging with it every day. Older consumers are as reliant on it as younger consumers. The channel is mature and hence boasts high levels of usability and functionality that appeal equally to all age groups.
To view the table of contents and know more details, please visit Retail Banking Country Snapshot: New Zealand.
Synopsis
“Retail Banking Country Snapshot: New Zealand 2016” reviews the retail banking sector in New Zealand, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our Retail Banking Insight Survey.
The report offers insight into:
- How consumers in New Zealand take out and use their financial products, and how this has changed in recent years.
- Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
- The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Reasons To Buy
- Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting New Zealand's retail banking sector.
- Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
- Learn about the impact new entrants and distribution channels will have on the market.
Companies Mentioned
ASB ANZ BNZ Harmony Heartland Bank Kiwi bank LendMe Lending Crowd Squirrel Money Westpac.
Contact:
Debora White
Manager - Marketing
debora@reportstack.com
Ph: +1-888-789-6604
Reportstack Market Research
###
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