Ken Research has announced its distribution on, “Retail Banking Country Snapshot: Italy 2016” which reviews the retail banking sector in Italy, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from the Global Retail Banking Insight Survey.
The report provides insight into how consumers in Italy take out and use their financial products, and how this has changed in recent years. It furnishes the providers who dominate the current account, savings, mortgage, and loan markets, along with the factors which persuade the customers to choose them.
The financial products market in Italy is less concentrated than in other countries. With the exception of Intesa Sanpaolo and UniCredit, few providers account for a major proportion of the market share.
Besides ING, each of the main current account providers in Italy has a negative NPS rating, with BNP Paribas and UniCredit being recorded as the weakest performers. The branches are still the major accession channel, across all products, though online is making its way in the savings market.
Mobile banking is on its introduction stage, though a few providers have introduced mobile onboarding, and high smartphone ownership rates presage well for future adoption. Around half the proportion of post-families use mobiles on a weekly basis compared to other segments.
Several trends are expected to drive developments in retail banking sector in 2017, which include factors as diverse as changes to the regulatory environment, the emergence of artificial intelligence, and the long-awaited entry of new mobile-only providers.