Financial Services: Market Research Report

December 2011 | 191 pages | ID: F6CAE6B373EEN
Global Industry Analysts, Inc

Abstracts

The global outlook series on Financial Services provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings.

The report critically examines major market trends and issues, identifies major segments, highlights the indispensable need for IT in the financial services industry, and investigates the implications of globalization.

The reader also stands to gain a prelude to topics such as ATM and Debit Card, Credit Cards, Online Credit Card Payments, Master Cards, and Visa Cards, among others.

Regional markets briefly abstracted and covered include US, Canada, Germany, Italy, Russia, UK, Japan, Australia, China, India, Taiwan) Brazil and Chile among several others.

The report offers a compilation of recent product launches, mergers, acquisitions, and strategic corporate developments.

Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 289 companies worldwide.

Contents

1.OVERVIEW

Financial Services: A Backdrop!

Table 1. Global Financial Services Market (2011): Percentage Breakdown of Assets Under Management by Type - Conventional Investment Management Assets, Non-Conventional Investment Management Assets and Private Wealth

Table 2. Global Financial Services Market (2011): Percentage Breakdown of Conventional Investment Management Assets by Region –US, Europe, Japan and Others

Importance of Financial Services to the Economy
Industry Landscape: Lot of Churning Underway
Competition Peps Up Investor Choice
IT Spending in Financial Services Markets: A Quest for Efficiency and Value
Banking Industry: Endeavoring to Re-Build Customer Trust
International Banks Seek to Capture Emerging Markets
Technology, Consolidation & Deregulation Characterize the Banking Industry
Insurance Sector Rebounds from Recession
Recession Triggers Demand for Low-Risk Asset Categories
Challenges Confronting the Financial Services Sector
Financial Services Industry- Outlook

Table 3. World Recent Past, Current and Future Analysis for Financial Services by Geographic Region – US, Japan, Europe and Rest of World Markets Independently Analyzed with Assets Under Management (AUM) in US$ Billion for Years 2010 through 2015

Table 4. World 5-Year Perspective for Financial Services by Geographic Region – Percentage Breakdown of Assets Under Management (AUM) for United States, Japan, Europe and Rest of World Markets for the Years 2011 & 2015

2.MARKET TRENDS & ISSUES

Financial Services Industry Goes Online
Internet Banking: An Essential Banking Service

Table 5. World Market for Internet Banking (2011) – Percentage Share Breakdown of Number of Customers by Region- Asia-Pacific, Europe, US, Latin America, Japan and Rest of World

Personalization and Communication Add Value to Online Banking
Heading Towards a Checkless Banking Society
Debit Cards Erode Credit Cards Revenues

Table 6. US Debit Card Market (2011): Percentage Breakdown of Cards in Use by Product Segment- Signature (Offline) and PIN (Online)

EMV Migration: Still a Long Way to Go
Bancassurance - A Perfect Distribution Channel in Asian Markets
Growing Demand for Independent Financial Planners
Industry Restructuring Trends in the Past
European Banking Sector
Banking Sector in Asia-Pacific Region
Retirement Financial Planning Sector Looks Promising
Attractive Reward Programs to Gain Consumer Interest in the Banking Sector
Mergers & Acquisitions: Banking on Size
Consolidation Spree: Beyond Growing Big
Realities of Business in ‘Wired’ World: Importance of IT for the Financial Services Industry
Financial Industry Turmoil: Are Informed Decisions a Way Out?
Growing Importance of Regulatory Compliance
Skyrocketing Value Migration: ‘New’ Value Chains Revolutionize Operations
Fruits of Globalization
Transnational Foray Spearheads Globalization of Financial Services
Emerging Markets Get Overseas’ Financial Muscle & Efficiencies
Outsourcing Financial Services: Boosting the Overall Industry’s Profits
Outsourcing Contracts Continue to Shrink on Account of Recession
Risks and Challenges
Legal Accounting and Regulatory Reforms Dampen Industry Morale
Soaring Financial Crimes Jeopardize Industry’s Creditworthiness
International Financial Regulation and Stability
Reasons for Domestic Regulation of Banks
Competitive Pressures on Capital
The Design of International Capital Requirements

3.A SEGMENTAL PERSPECTIVE

Banking
A Rudimentary Overview

Table 7. Top 15 Banks in the World in Terms of Assets (2011): Value in US $ Billions for BNP Paribas, HSBC Holdings, Deutsche Bank, Mitsubishi UFJ, Barclays PLC, and Others

Retail Banking: The Transformation
Multi-Channel Banking – The New Mantra for Banking Sector
Mobile Internet & Advanced Technologies Propel Mobile Banking Market

Table 8. Global Mobile Banking Market (2011): Percentage Share Breakdown of Number of Users by Region- US, Canada, Europe, Asia-Pacific, and Rest of World

Table 9. Percentage of 3G and Smartphone Customers Using Mobile Banking Services (2009): Breakdown for Web Browser, Client Application and SMS-Based Service

Mobile Banking – Serving the Un-Banked

Table 10. Mobile Phone Penetration in Select Countries

Online Banking to Witness Rise in Online Security Threats
Capital Markets
Private Equity

Table 11. Worldwide Private Equity Market (2011): Percentage Breakdown of Investment by Region – Europe, US and Rest of World

Insurance
Market Perspective

Table 12. Global 5-Year Perspective for Insurance Industry by Geographic Region – Percentage Share Breakdown of Annual Premium for US, Canada, Europe, Asia-Pacific (including Japan), Latin America, and Rest of World Markets for Years 2011 & 2015

Table 13. Global Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Table 14. Insurance Penetration in the Global Market (2011): Breakdown of Market Penetration Rates (in %) by Select Countries

Table 15. Insurance Density in the Global Market (2011): Breakdown of Premiums Per Capita (In US$) by Select Countries

Table 16. Top-10 Insurance Companies in the Global Market (2010): Breakdown of Revenues in US$ Billion by Leading Players

Renewed ‘Life’ in the Market…

Table 17. Global Market for Life Insurance (2011) – Percentage Share Breakdown of Annual Premiums by Region/Country - USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America, and Rest of World Markets

Non-Life Insurance- A Synopsis
Rising Healthcare Costs Prop Up Health Insurance Volumes

Table 18. US Annual Healthcare Expenditure (In US$ Billion) for Years 2007 Through 2015

Reinvestments Elevate Profit Expectations
The Changing F(P)ace of Insurance Services
Insurance Industry and Major Concerns
Mutual Funds
Outlook

Table 19. World Market for Mutual Funds (2011 & 2015): Percentage Share Breakdown of Assets Under Management (AUM) Value by Geographic Region – US, Canada, Europe, Asia-Pacific, Latin America and Rest of World

Key Statistics

Table 20. Global Mobile Banking Scenario (2010 & 2011): Breakdown of Usage by Country- US, China, Brazil and Kenya

Table 21. Global Market for Private Banking (2011): Percentage Breakdown of Share by Region- Switzerland, UK and Ireland, Caribbean Islands and Panama, Singapore, US and Others

Table 22. Leading Thrift Banks Worldwide (2008): Percentage Breakdown of Market Share by Banks - Citigroup, HSBC, HBOS and Others

Table 23. Global Leading Consumer Finance Firms (2008): Percentage Breakdown of Market Share Based on Revenues Generated for Citigroup Inc., HSBC Holdings PLC, Bank of America Corp, J.P.Morgan Chase and Co and Others

4.ATM AND DEBIT CARD INDUSTRY

Overview
Transition of ATMs into Multi Functional Machines
Emerging Markets to Lead the Way

Table 24. Global Automated Teller Machines Market (2011): Percentage Share Breakdown of Installed Base by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East & Africa, and Latin America

Impact of Recession of Payment Cards Market
Card Associations Intensify Campaign for Prepaid Cards
Non-Banking Agencies to Counter the Dominance of Associations

5.CREDIT CARDS INDUSTRY

Overview
Industry Experiences Rough Weather During the Recent Recession
Accelerated Growth in Credit Card Markets of Emerging Nations

Table 25. Global Credit Card Market (2010 & 2011)- Breakdown of Annual Number of Cards in Use by Region-US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World

New Technologies for Protection against Fraud
New Credit Card Trends Post Recession
Credit Cards Make a Come Back, Competition Heats Up
Customers Confronted with Higher Credit Rates Even as Competition Increases
Companies Resort to Richer but Complicated Rewards
Credit Card Issuing – Future Trends
Multifunction Cards
Mobile Payments
Contactless Card

6.MASTERCARD & VISA

Long-term Prospects better for Visa and MasterCard

Table 26. Global Market Share of Leading Credit Card Companies by Purchase Volume (2010

7.MERGERS AND ACQUISITIONS

8.STRATEGIC CORPORATE DEVELOPMENTS

9.PRODUCT/SERVICE LAUNCHES

A REGIONAL MARKET PERSPECTIVE

1.THE UNITED STATES

Banking
How the Financial Crunch Stalled the Banking Industry

Table 27. US Banking Industry: Breakdown of Revenues in US$ Billion for 2010 through 2015

Recent Banking Trends in the US
Recession Fuels Demand for Mobile Banking Services
Gen Y – A Key Demographic Segment
The ‘Retail’ Makeover: Enhances Banking Experience
Insurance Products
Current Market Scenario

Table 28. US Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Life and Health Insurance
Life Insurance
Health Insurance
Market for Payment Cards
Credit Card Spending in the US Increases Post Recession

Table 29. Usage Pattern of Credit Cards in the US (2011): Percentage Share Breakdown by the Reason Cited

Table 30. Leading Credit Card Companies in the US (2010): Percentage Breakdown of Market Share by - Visa, MasterCard, American Express and Discover in terms of Cards in Circulation

The CARD Act
A Mixed Impact of the CARD Act on the US Credit Card Market
Standardization of EMV Technology in the US – Still a Long way to Go
Market Booming for US Debit Card Sector
Debit Cards for Healthcare Benefits Plan Administration
Key Statistics

Table 31. Leading Financial Services in the US (2011): Percentage Breakdown of Revenues by Sector – Bank, Insurance, Diversified Financials, and Securities

Table 32. Asset Allocation of Pension Funds in the US (2011): Percentage Breakdown by Type –Equities, Bonds and Others

Top 10 US Banks Ranked by Number of ATMs Owned in 2009
Top 5 US Credit Unions Ranked on the Basis of Value of Assets Held in 2009

Table 33. Leading Credit Issuance Firms in US (2009): Percentage Breakdown of Market Share by Premiums for Assurant Inc., American international Group, Allianz SE, QBE Insurance Group Ltd, Old Republic Intl and Others

Table 34. Leading Issuers of Financial Guarantees in the US (2009): Percentage Breakdown of Market Share by Premiums for Firms - MBIA Inc, Ambac Financial Group Inc, Financial Guaranty Insurance Co., Syncora Holdings Ltd, Radian Group Inc., and Others

Table 35. Leading Issuers of Fire and Allied Line Insurance in the US (2009): Percentage Breakdown of Market Share by Firms - American International Group, Assurant Insurance Group, FM Global Group, Bank of America Group, Travelers Group, Citizens Property Insurance Corp, Wells Fargo Insurance Group, Allianz of America, Great American P and C Insurance Group and Others

Table 36. Top Banks in the US - Ranked by Assets held as at the Second Quarter of 2010 (in US$ Billions)

Table 37. Leading US Book Runners (2010): Percentage Breakdown of Market Share for BAML Capital Partners, J.P. Morgan, Citi , Deutsche Bank, Wells Fargo and Co., BNP Paribas, Credit Suisse , Barclays Bank PLC, Goldman Sachs, RBS and Co and Others

Table 38. Leading Surety Insurance Firms in the US (2009): Percentage Breakdown of Market Share for American International Group, Lloyd's, Zurich Financial Services N.A. Group, Nationwide Group, ACE INA Group, Markel Corporation Group, W.R.Berkeley Group, CAN Insurance Companies and Others

Table 39. US Leading Credit Card Issuers (2010) Based on Purchase Volumes in Billions of US$

2.CANADA

Canadian Securities Industry
Alternative Trading Systems (ATS)
Access to Capital for Businesses and Governments
Market Trends
The Increasing Importance of the Canadian Securities Industry
Key Statistics

Table 40. Asset Allocation of Pension Funds in Canada (2011): Percentage Breakdown by Type – Equities, Bonds and Others

Table 41. Canadian Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Table 42. Leading Life Insurance Firms in Canada (2008): Percentage Breakdown of Market Share by Great-West Life Assurance Co., Manufacturers Life Insurance Co. , Sun Life Assurance Company of Canada, Canada Life Financial Corp and Others

3.EUROPE

Organization of European Asset Management Industry

Table 43. European Recent Past, Current and Future Analysis for Financial Services by Geographic Region – France, Germany, Italy, UK and Rest of Europe Markets Independently Analyzed with Assets Under Management (AUM) in US$ Billion for Years 2010 through 2015

Table 44. European 5-Year Perspective for Financial Services by Geographic Region – Percentage Breakdown of Assets Under Management (AUM) for France, Germany, Italy, UK and Rest of Europe Markets for the Years 2011 & 2015

FSAP: Leapfrogging the Fragmented Euro Markets
Wholesale Financial Services in EU27
Insurance Companies and Pension Funds- Largest Institutional Investors

Table 45. European 5-Year Perspective for Insurance Industry by Geographic Region – Percentage Share Breakdown of Annual Premiums for France, Germany, Italy, UK, Spain, Russia, Rest of Europe Markets for Years 2011 & 2015

Life Insurance
Non-Life Insurance

Table 46. European Property & Casualty and Accident Insurance Market (2011): Breakdown of Premiums by Type of Product

Banking
Mobile Banking on a Growth Trajectory

Table 47. Penetration (%) of Internet Banking & Mobile Banking in Select European Countries (2010)

Europe Leads in Bancassurance
European Retail Financial Services: Bracing up for Imminent Regulatory and Compliance Requirements
Key Statistics

Table 48. European Banking Industry: Breakdown of Revenues in US$ Billion for2010 through 2015

Table 49. Leading Insurance Firms in Greece (2008): Percentage Breakdown of Market Share by Premiums for Ethniki AAEGA, Interamerican EEAZ, Agrotiki Insurance and Others

Table 50. Leading Insurance Firms in Hungary (2008): Percentage Breakdown of Market Share by Premiums for Allianz, Generali Providencia, Groupama Garancia and Others

3A.GERMANY

Market Primer on Banking
Insurance: Market Overview

Table 51. German Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Insurance Penetration in German Households

3B.ITALY

Highly Fragmented Banking Market
Insurance: Looking up Again

Table 52. Italian Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Banks in the Italian Insurance Business

3C.RUSSIA

Overview

Table 53. Leading Insurance Firms in Russia (2008): Percentage Breakdown of Market Share by Premiums for ALICO, Rosgostrakh Life, Geopolis and Others

3D.SPAIN

Brief Overview Banking Industry
Insurance Industry - A Snapshot

3E.THE UNITED KINGDOM

Market Overview

Table 54. Financial Services Industry in the UK (2011): Percentage Breakdown of Funds Under Management by Type – Institutional (Insurance, Corporate Pension Fund and Others), Retail, Alternative Funds (Hedge Funds, Property Funds, and Private Equity Funds) and Private Client Funds

Pioneering Privatization
Retail Financial Sector Primed to Gain from Entry to EMU
Retail Regulation Reforms
Sectoral Perspective
UK – The Largest Insurance Market in Europe

Table 55. UK Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Bastion of Private Pension Funds

Table 56. Asset Allocation of Pension Funds in the UK (2011): Percentage Breakdown by Type – Equities, Bonds and Others

Banking: Strongly Rooted
Consolidation to Spark Up the UK Retail Banking Sector
Fund/Asset Management: Innovative Management ‘Styles’ Sectoral Funds
Securities: A Highly Developed Market

4.ASIA-PACIFIC

The Emerging Market
Bancassurance Growing Swiftly
Credit Cards

Table 57. Online Payment Preferences of Consumers in Asia Pacific as a Percentage of Population

Key Statistics

Table 58. Asia-Pacific 5-Year Perspective for Insurance Industry by Geographic Region – Percentage Share Breakdown of Annual Premiums for Japan, China, India, Australia, Hong Kong, South Korea, and Rest of Asia-Pacific Markets for Years 2011 & 2015

Table 59. Leading Insurance Firms in Indonesia (2008): Percentage Breakdown of Market Share by Premiums for PT Asuransi Jasa Indonesia, PT Asuransi Astra Buana and Others

Table 60. Leading Insurance Firms in South Korea (2008): Percentage Breakdown of Market Share by Premiums for Samsung F and M, Hyundae, Dongfu F and M and Others

Table 61. Leading Insurance Firms in Philippines (2008): Percentage Breakdown of Market Share by Premiums for Malayan Insurance Co., Prudential Guarantee and Assurance, BPI/MS Insurance Corp. and Others

Table 62. Leading Life Insurance Firms in Hong Kong (2010): Percentage Breakdown of Market Share Based on Premiums for AIA, Manulife, HSBC, AXA and Others

Table 63. Leading Life Insurance Firms in Thailand (2009): Percentage Breakdown of Market Share by Premiums for AIA, Thai Life, Bangkok Life, Muang Thai, Siam Comm NY Life and Others

4A.JAPAN

Pension Funds Market
Corporate Pension Assets
Public Pension Assets

4B.AUSTRALIA

Market Overview
Status of the Financial Market
Australia Witnesses Growth in Online Banking Users
Key Statistics

Table 64. Australian Leading Credit Unions (2010): Percentage Breakdown of Market Share by - Credit Union Australia, Savings and Loans, Australia Central Credit Union, Community CPS Credit Union, New South Wales and Police and Nurses Mutual Banking

4C.CHINA

Market Overview – “Now & Then”
Segmental Perspective
Banking
Liberalization Fuels Foreign Investments in Banking
Mobile Banking: A Strategy to Gain Competitive Advantage
Domestic Banks Dominate Online Banking Market

Table 65. Internet Banking Market in China (2011): Percentage Share Breakdown of Trade Value by Corporate and Personal Sectors

Insurance
Insurance: Phased Transition to Liberalization

Table 66. Chinese Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premium by Segment – Life Insurance & Non-Life Insurance

Table 67. Leading Life Insurance Firms in China (2010): Percentage Breakdown of Market Share by Premiums for China Life, Ping An, China Pacific, Tai Kang, Xin Hua, PICC Life, PICC Health and Others

Securities
Government Priorities for a Better Securities Market
Credit Cards
CBRC Regulations to Control Credit Card Sales in China

4D.INDIA

Overview

Table 68. Financial Savings of Households in India (2011): Percentage Share Breakdown by Financial Instruments- Bank Deposits, Insurance, Pension & Provident Funds, Mutual Funds and Others

Financial Services Market in India – Impact of Recession
Destination India for Major Foreign Banks & Pension Funds
Insurance Sector: Rising Opportunities
Life Insurance to Gain Popularity
Medical Insurance Expense to Increase

Table 69. Indian Insurance Market (2011) – Percentage Share Breakdown of Value of Insurance Premiums by Segment – Life Insurance & Non-Life Insurance

Table 70. Leading Life Insurance Firms in India (2010): Percentage Breakdown of Market Share for Reliance Capital, Prudential ICICI, UTI, HDFC MF and Others

Banking – A Long March Ahead
Indian Banks Up for Plucking?
Technology Makeover Sending Ripples in the Banking Industry
Single Regulator – Is India Ready?
Mutual Funds
Overview
Distribution Channels Vary of Domestic and Foreign Players
Recent Developments
SEBI Abolishes Entry Load
QFIs Gain Permit to Invest in Mutual Funds
SEBI Relaxes Mutual Fund Merger Norms
Other Developments
Mortgage Industry
Credit Cards
An Under penetrated Market with Huge Potential

4E.SINGAPORE

Singapore Banking Sector

4F.TAIWAN

Market Outlook

5.LATIN AMERICA

Latin American Banking Industry Eyes More Investments
Market Snapshots
Insurance: A High Potential Industry

Table 71. Latin American 5-Year Perspective for Insurance Industry by Geographic Region – Percentage Share Breakdown of Annual Premiums for Argentina, Brazil, Mexico, and Rest of Latin American Markets for Years 2011 & 2015

Debit Cards Issuers Face the Heat from Credit Cards
Regional Market
Brazil: A Key Market in Latin America
Banking
Outlook
Insurance Industry: Overview

Table 72. Household Penetration of Insurance in Brazil (2011): Percentage Breakdown of Number of Households with Insurance by Area

Chile: Growth Spurred by Reforms and Stability
Market Overview
Market Reforms
Banking
Securities
Insurance – A Well Developed Market
Mexico
Insurance Industry Abounds with Opportunities
Key Statistics

Table 73. Leading Life Insurance Firms in Mexico (2010): Percentage Breakdown of Market Share by Premiums for MetLife, BBVA/Bancomer, Grupo Nacional Provincial, Monterey New York Life, Citi/Banamex and Others

Table 74. Leading Life Insurance Firms in Mexico (2010): Percentage Breakdown of Market Share by Premiums for MetLife, BBVA/Bancomer, Grupo Nacional Provincial, Citi/Banamex and Others

Table 75. Leading Mexican Banks (2010*): Percentage Breakdown of Market Share Based on Deposits

6.REST OF WORLD

South Africa
Mobile Banking Sector Takes Off
Global Directory