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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)
Key regions: France, Brazil, Germany, United Kingdom, United States
Sweden's Traditional Retail Banking market is experiencing a shift in customer preferences, trends, and local special circumstances that are shaping its development.
Customer preferences: Customers in Sweden are increasingly leaning towards digital banking solutions, favoring convenience, accessibility, and personalized services. The demand for seamless online banking experiences, mobile payment options, and efficient customer service is driving traditional banks to innovate and adapt to meet these evolving preferences.
Trends in the market: One prominent trend in the Swedish Traditional Retail Banking market is the rise of neobanks and fintech companies offering innovative digital banking solutions. These new entrants are challenging traditional banks by providing user-friendly interfaces, quick account setup, and competitive interest rates. As a result, traditional banks are investing in digital transformation to stay competitive and retain customers in this rapidly evolving landscape.
Local special circumstances: Sweden's unique regulatory environment, characterized by a high level of digital infrastructure and tech-savvy population, is creating a conducive atmosphere for the growth of digital banking services. The country's cashless society and widespread use of electronic payments are pushing traditional banks to enhance their digital offerings and branch services to cater to changing consumer behaviors.
Underlying macroeconomic factors: The strong macroeconomic stability in Sweden, coupled with low-interest rates and a competitive banking sector, is influencing the Traditional Retail Banking market. As the economy continues to grow and consumer confidence remains high, traditional banks are focusing on expanding their digital capabilities, improving customer experiences, and streamlining operations to remain profitable and sustainable in the long run.
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)