Worldwide, banking industry has been evolving and adapting to changing economic, and geopolitical equations. While the penetration of banking operations is high in developed countries, low penetration rates in emerging economies are expected to translate into vast growth opportunities for players in the banking sector.
Banking system in Asia is on a new high with majority of the countries witnessing favorable economic growth. Similar vibrancy is visible in Eastern Europe, despite concerns related to rising unemployment levels.
Rising investments in the field of information technology (IT) solutions are anticipated to play a major role in improving the efficiency and effectiveness of banking industry operations. Software, professional services and outsourcing services are three major focus areas for banking industry players. With cost containment being a major issue facing the industry, banks are adopting stringent financial disciplinary measures to ensure the same. Outsourcing is one such measure adopted by the banking sector, whereby banks seek to cut costs by outsourcing operations to low-cost offshore destinations.
Online banking is one of the most prolific growth sectors in the overall banking industry, driven primarily by the rising consumer demand for convenient banking transactions. Technological advancements and faster transaction processing are contributing to the growth of online banking market, including online credit card payments sector.
Despite rising popularity, online banking services are presently used for limited operations such as checking account balances and transfer of funds. Banking through mobile phones is another growth sector for the industry, fostered by the convenient and affordable nature of mobile banking services. With penetration of mobile phones rising exponentially across the world, mobile banking services are set to gain popularity among consumers.
A variety of bankcards are in use across the world, including credit cards and debit cards. Credit cards market is characterized by high degree of competition owing to relatively lower entry barriers. Growth in the market is significantly influenced by factors such as consumer willingness to borrow, ease of access to credit, and lack of debit card legacy. United States, Asia-Pacific and Europe constitute major markets for credit cards.
The relatively lower level of credit card utilization in Asia-Pacific and Eastern Europe offers enormous growth opportunities for the sector.
Automated Teller Machines (ATMs) represent one of the most flexible banking products in use today. Developed initially to cut operational costs, ATMs have emerged as a significant technological investment made by commercial banks, assisting in easing congestion at bank counters. ATM usage has been on a rise on account of increased customer acceptance, and expansion of EFT networks. Apart from conventional function of cash withdrawal, present day ATMs perform additional functions such as cash checking, check imaging, dispensing event tickets, stamps, coupons, phone cards, and printing graphical documents, among others.
The report titled “Banking: A Global Outlook” provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. Annotated with 150 information-rich tables presenting market data findings, and analytical research projections, the entire discussion builds a macro-level perception of the industry in its totality (regional & global).
The global market discussion offers quantitative insights into world banking revenues, global assets of leading banks, online banking market by number of users, online payments market by percentage of credit card payments and number of ATM terminals in select regions, among other parameters. Major regional markets discussed include the US, Canada, Japan, Europe, France, Germany, Italy, UK, Russia, Asia Pacific, Latin America, and Middle East/Africa. The report includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 3,037 companies worldwide.
