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Targeting Migrant Groups in Retail Banking

  • June 2014
  • 16 pages
  • GlobalData
Report ID: 3375895

Summary

Table of Contents

Summary
Targeting Migrants in Retail Banking is a powerful interactive tool providing direct answers to the questions that are central to developing a targeting strategy for select migrant populations. It draws out the views and habits of consumers who have changed their country of residence, offering essential insight into one of the few sources of genuinely new business in already mature markets.


Synopsis
- Global consumer data, drawn from Verdict Financial's annual survey of almost 1,500 migrants spread across key immigrant markets around the globe.
- Insight into the products that migrants hold, including a detailed examination of their savings habits and behaviors.
- Detailed data on the financial behavior of key migrant groups including non-resident Indians, overseas Chinese, and British expatriates.

Reasons To Buy
- How can I develop product propositions to grow my penetration of key immigrant groups?
- Which are the underpenetrated migrant groups, and what products or providers are they looking for?
- What proportion of migrants in my market are sourcing their investment advice from a bank? How does my market compare with the global average?
- Which channels are best for serving migrant populations? Do I need a Chinese language mobile app?

Key Highlights
Only 10% of expatriates from Asia Pacific have not saved anything recently, while 60% save something on a monthly basis. In comparison, only 53% of the global expatriate population save on a monthly basis, making migrants from Asia Pacific a potentially lucrative target market.

Of Western European migrants with savings accounts, 30% reported that they can only save varying amounts when possible and a further 15% indicated that they had not saved for "a while." Only a narrow majority, 55%, did not report such savings difficulty.

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