New Zealand has a highly concentrated market for most financial products, with ANZ, ASB, and Westpac dominating the provision of current accounts, savings accounts, and mortgages. Consumers are cautious in their choice of provider, favoring those with strong reputations and nearby branches. Mobile is now a significant channel for routine transactions, although use is heavily skewed towards younger age groups. Satisfaction with digital channels is significantly higher than for branches and call centers.
Browse Detail Report With TOC @ http://www.hexareports.com/report/retail-banking-country-snapshot-new-zealand/details
It includes both market-level data and insight from our Retail Banking Insight Survey.
The report offers insight into:
1. How consumers in New Zealand take out and use their financial products, and how this has changed in recent years.
2. Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
3. The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Browse More Financial Services Related Market Research Reports:
• Wealth in South Africa: Sizing the Market Opportunity 2016 – http://www.hexareports.com/report/wealth-in-south-africa-sizing-the-market-opportunity-2016/details
• Retail Banking Country Snapshot: Canada 2016 – http://www.hexareports.com/report/retail-banking-country-snapshot-canada-2016/details
1. Among consumers as a whole, reputation and branch location are the two most influential drivers of choice of current account provider, and are particularly important to post-family consumers. Younger consumers are particularly reliant on personal recommendations.
2. Borrowers overwhelmingly prefer direct application for mortgages, with 70% of all current borrowers having chosen this option. However, this has fallen slightly over time, while independent financial advisors and specialist brokers have both claimed a rising share of the market.
3. Online is the most heavily used banking channel, with a third of consumers engaging with it every day. Older consumers are as reliant on it as younger consumers. The channel is mature and hence boasts high levels of usability and functionality that appeal equally to all age groups.
Reasons To Buy
• Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting New Zealand’s Retail Banking sector.
• Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
• Learn about the impact new entrants and distribution channels will have on the market.
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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