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Key regions: France, Brazil, Germany, United Kingdom, United States
The Traditional Retail Banking market in Australia & Oceania has been experiencing significant changes and developments in recent years.
Customer preferences: Customers in the Australian and Oceanian region are increasingly seeking more convenient and efficient banking services. With the rise of digitalization and technological advancements, there is a growing preference for online and mobile banking options. Customers are looking for seamless digital experiences, personalized services, and round-the-clock accessibility to their banking needs.
Trends in the market: In Australia, there is a noticeable trend towards the closure of physical bank branches as more customers opt for digital banking channels. This shift is driven by cost-cutting measures by banks and the changing preferences of tech-savvy consumers. On the other hand, in some Oceanian countries where access to digital infrastructure is limited, traditional brick-and-mortar bank branches still play a crucial role in serving customers.
Local special circumstances: Australia, being a developed country with a high level of digital adoption, is at the forefront of digital banking transformation. The market is highly competitive, with both traditional banks and digital-only players vying for market share. In contrast, some Oceanian countries face challenges such as limited internet connectivity and geographical barriers, leading to a slower adoption of digital banking services.
Underlying macroeconomic factors: The overall economic stability and growth in Australia have contributed to the rapid evolution of the traditional retail banking sector. As the economy continues to expand, banks are investing more in digital infrastructure and innovative technologies to meet the changing needs of customers. In Oceanian countries, economic factors such as GDP growth, inflation rates, and foreign investment play a significant role in shaping the traditional retail banking landscape.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.Additional Notes:
The market is updated twice per year in case market dynamics change.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)