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Precise Market Analysis for Retail Banking Sector in the United States

Thursday, November 24, 2016 0:30
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Albany, New York, November 24, 2016: A brief discussion on the U.S. market can be found in a recently added research report available in Market Research Hub’s vast archive. The report titled, “Retail Banking Country Snapshot: US 2016” reviews the retail banking sector in the US, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from retail banking insight survey.

Request For a Free Sample Report:  http://www.marketresearchhub.com/enquiry.php?type=S&repid=871902

The U.S. banking industry is experiencing a renewed interest in retail banking and broadly defined as the range of products and services provided to consumers as well as small businesses. The research study finds that, the country has a very large banked population which favor providers with good reputation and competitive rates. Usage of online financial services has taken over branches for a number of basic banking tasks and it is growing for complex interactions, mostly among younger consumers in the U.S.

Retail-banking customers are now changing their behavior and making greater use of multiple channels and moving to digital or direct access. Banks have encouraged these changes by offering customers more ways to connect. As more customers use digital-banking channels, the more they actually use branches and call centers. This personalized, high-quality service has built deep trust among customers, in some cases it leads to lower price elasticity even in commoditized products like mortgages. Factors related to payment flexibility and redrawing facilities are also a key to the country’s retail banking sector. Supervisory activities are also focused in the report for strengthening the banking sector. 

Moreover, this shifting behavior presents a threat and a rare opportunity for the retail banking sector. Thus, banks are now moving to take a next step by upgrading their digital channels with chatbots and other functionality to assist query resolution.

Key players in U.S. Retail Banking includes:
•    Bank of America
•    Citibank
•    US Bank
•    PNC Bank
•    Wells Fargo
•    JP Morgan Chase
•    Capital One
•    BB&T
•    Huntington Bank
•    Moven
•    Lending club and others.

Access Full Report on Retail Banking Country Snapshot: US 2016 with TOC: http://www.marketresearchhub.com/report/retail-banking-country-snapshot-us-2016-report.html 

The key findings analyzed in the report tells that, top six banks hold less than half of the market and top two providers including Bank of America and JP Morgan both are recorded for prominent increases over the last year. Whereas, Wells Fargo market share dropped by 2 points over the same period. New entrants in the country such as Ally Bank, Moven, Simple and Discover Bank, have launched current account propositions. Due to this, competition has boosted customer mobility and made it easier for new entrants to acquire customers. The buyer will also get to know the exact impact of new entrants and distribution channel will have on the market.

About Market Research Hub:
 

Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

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