World banking key trends and strategies explained

 
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Global Banking Industry

 

The global banking industry is expected to exceed $143 trillion in 2014 for a 58% increase in five years, according to research from MarketLine. Bank credit represents the leading market segment, with around 60% of the overall market in terms of value. The EU is the largest regional market, with over 57% of the global market.

 

The economic recession that began in 2008 resulted in the crash of several financial institutions, which in turn led to the examination of practices and deployment of new guidelines in the banking industry. The sector is beginning to rebound, and cross-border investment is one area contributing to recovery, with a few large banks dominating certain national markets. Advantages of cross-border practices include economies of scale, though institutions must compete with established domestic banks.

 

Key Market Segments

 

  • The world retail lending sector was worth close to $31.4 trillion in 2010, reports MarketLine. Market growth is expected to exceed a yearly rate of 5% between 2010 and 2015, to reach almost $40.4 trillion. Mortgage lending represents the leading market segment, and reached close to $24 trillion in 2010, accounting for almost 76% of the overall market in terms of value.

 

  • The global smart card shipment market is forecast to record yearly growth of 12% between 2011 and 2014, reports RNCOS. The market is benefiting from Long Term Evolution rollout worldwide, state support and migration to Euro pay, MasterCard & VISA (EMV). Secure microprocessor contactless smart card shipments are expected to record 22% yearly growth between 2011 and 2014.

 

  • The global mobile payments market is expected to exceed 1.5 billion customers by 2012, reports Visiongain. It is forecast there will be close to 5.5 billion handsets used in the mobile subscriber sector in 2015. Obstacles to market growth include the low penetration of contactless terminals and handsets in mature markets.

 

  • The world near field communication (NFC) payment market is expected to record close to 70% yearly growth between 2010 and 2014, reports TechNavio. Market growth will be fuelled by the increased availability of NFC-enabled handsets. While NFC enabled payment pilot trials have proved successful, additional infrastructure will be necessary to fulfill growth potential. Key companies operating in the global NFC payments industry include Discover Financial Services, MasterCard and Visa.

 

  • The global private banking sector has been seriously impacted by the economic crisis, following which partnerships, organic growth, and mergers and acquisitions went into decline, according to research from Datamonitor. Since 2010, private banks have been struggling against commoditization. Industry players will continue to concentrate on customer segmentation, gearing their products to consumer groups based on factors such as nationality, social status and ethnicity. Leaders operating in the market include Wells Fargo, Pictet, HSBC, UBS, Credit Suisse and RBC.

 

 

Regional Market Share

 

Following the negative impact of market volatility on Asia-Pacific’s high net-worth consumer base, the banking industry is expected to recover and expand in 2012, reports Datamonitor. Recovery will be fuelled by resolution of the EU debt crisis and rising investor confidence in financial assets. Affluent consumer numbers in Asia Pacific climbed less than 1% in 2011 due to low stock market returns. Japan holds solid potential as close to 42% of the overall population is categorized as affluent.

 

The US banking sector is expected to reach $14 trillion by 2015, in terms of assets, while the EU should reach $88 trillion, reports Global Industry Analysts. Market growth will be driven by cross-border expansion due to the breaking down of obstacles to cross-border investment. Competition between international banks is also forecast to fuel market growth along with the introduction of new products, reduction of costs and launch of new services.

 

 

Market Outlook

 

Research from Global Industry Analysts shows that mobile and internet banking are becoming increasingly intertwined. This is largely due to the success of smartphones, which afford consumers convenient access to internet banking. The global mobile internet market will continue to drive the expansion of the mobile banking services sector. Financial institutions are responding by launching downloadable applications and encouraging consumers to bank online and through mobile devices by rolling out mobile and internet banking services.

  

 

Leading Industry Associations

 

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