Singapore has a highly concentrated market for most financial products, with DBS, POSB, and OCBC 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.
Verdict Financial’s “Retail Banking Country Snapshot: Singapore 2016” reviews the retail banking sector in Singapore, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our Retail Banking Insight Survey.
The report offers insight into:
– How consumers in Singapore take out and use their financial products, and how this has changed in recent years.
– Which providers dominate the current account, savings, mortgage, and loan markets and what factors persuaded their customers to choose them.
– The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Request a Free Sample Copy of this Report @ http://www.radiantinsights.com/research/retail-banking-country-snapshot-singapore-2016/request-sample
– Among consumers as a whole, reputation, branch location, and price are the three most influential drivers across all products. In addition, Singaporean consumers show a preference for local brands.
– Borrowers overwhelmingly prefer direct application for mortgages, with 79% of all current borrowers having chosen this option. Singapore’s mortgage market is expected to grow strongly over the next four years, reaching SGP231.1bn in 2020.
– The younger family segment is the most restless of the life stages according to our Megatrend framework. Our data suggests they are seeking more flexible products and services that suit their circumstances better, which is reflected in the fact that they’re more likely to switch providers than other consumer segments.
Download Full Research Report @ http://www.radiantinsights.com/research/retail-banking-country-snapshot-singapore-2016
Reasons To Buy
– Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Singapore’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.
Browse All Reports of This Category @ http://www.radiantinsights.com/catalog/financial-services
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email : firstname.lastname@example.org
visit our website : http://www.radiantinsights.com/
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
Country: United States