Direct Applications Gain Ground in Retail Banking in New Zealand, Says Verdict Retail in Its Report Available at MarketPublishers.com14 Nov 2016 • by Natalie Aster
LONDON – At present, New Zealand can boast a highly concentrated market for the most financial products. The provision of current accounts, mortgages and savings accounts is ruled by Westpac, ANZ and ASB.
Consumers are now paying much attention to their choice of a provider, and they prefer those providers that have nearby branches and strong reputations. Younger consumers rely on personal recommendations to the great extent.
Now mobile is heavily used for routine transactions, though younger age groups are the main user of this channel.
Consumers, however, cite a higher level of satisfaction of digital channels than it is for call centers and branches.
Direct applications are turning increasingly popular. Currently, 70% of all current borrowers have this option.
Online services represent the most popular banking channel. Approximately 33% of users utilize them every day.
Insightful research report “Retail Banking Country Snapshot: New Zealand” worked out by Verdict Retail offers a comprehensive guide to the retail banking segment in New Zealand. The study provides a 360-degree overview of this segment.
It sheds light on consumer behavior relative to the use of financial products. The report also investigates recent changes in it. The research study focuses on providers that dominate the local space. It explores the use mobile as well as online channels by consumers.
Reasons to Buy:
- keep abreast of trends as well as development in the retail banking segment in New Zealand;
- see how newcomers and distribution channels impact the local space;
- find out valuable information about consumer behavior and preferences.
Other Markets Scrutinized by Verdict Retail Comprise:
More cutting-edge studies by our partner are available at its page.