Industry Insights
Global Banking Industry
Outlook of Global Banking Industry
Status of the industry Global Banking going to explode with a growth rate of 8% annually
Global banking industry is growing rapidly, especially in developing countries like India. Banking is playing primary role in stabilizing economical conditions of nations and along with individuals. Global & country level banking institutions are being regulators of economical development of nation. Global banking industry faces short-term uncertainty due to the debt crises in several major economical countries. Global banking industry assets are estimated to climb to US $171760.3 billion by 2017. The performance of the industry is forecast to accelerate, with an anticipated CAGR of 6% to 8% in upcoming five years.
Global Banking Industry Sources
US, Canada, Japan, Europe, France, Germany, Italy, UK, Russia, China, India, Indonesia, Malaysia, Singapore and Korea are major regional markets for banking industry.
Status of the industry Global Banking investing more in developing countries & expanding their wings to the world.
Europe dominates the global banking industry with 43% of total market share. 45% of global market industry assets are from western and emerging markets of the world like India, Brazil, China,& Russia. The Asia Pacific banking industry is major source of banking& growing rapidly at an annual rate of 10% to 15%. European & North American regions are the second biggest sources of banking. Asia pacific is the bigger market in upcoming years with great opportunities.
SWOT analysis of banking industry Strengths
Weaknesses
Diversified services & great reach.
Cost of services & Security issues.
Bank asset quality & profitability.
Skill set of technical & marketing people.
Bank lending has been a significant driver of GDP.
Structural weakness of banking.
Technology updates in banking. Global networks & branches.
Opportunities
Income level & economical growth of individual and country. Demand in emerging countries. Liberalization of economical norms in developing countries. Global trading & open markets.
Financial exclusions. Customer services. High level of non performing assets. Threats
Regulatory bodies, laws & associations. Competitive world. Natural calamities. Political, economical environments. Inflation and recession.
Influencing factors of Global Banking
Status of the industry Uncertain economical conditions of world are being regulator of Global Banking Industry.
Global & country leave economical growth & capital needs. Per capital income of individual and country. Massive un-banking populations of world. Rising middle class populations & escalating house hold incomes. Rapid technological adaptation in banking industry. Regulatory bodies & economical institutions are influencing outlook of global banking industry. Return on long & short term funding. Uncertainty scenario of global markets & economical development of country
Regulatory Bodies of Banking Industry Status of the industry Banking associations & central banks of individual countries are supporting banking activities
Banking have no unified regulatory bodies & laws. Every country has their own regulations & regulatory bodies to support their banking and financial systems. US: Fedeeral Reserve Bank. Comptroller of the currency of the US. National Credit union share insurance fund. India: Reserve Bank of India. Government of the Republic of India Banking associations, regulatory bodies and central banks of countries are the key players in stabilizing bank’s activities.
Trends in Banking Industry
Status of the industry Global Banking going to explode with a growth rate of 8% annually
•Technology updates in functionality of banking & delivering services quickly. •Updates in business inelegancy & customer relation ship management. •Segmentation of user for better targeting & services definitions. •Payment process system are the big changes. •Great adaptations of core banking solutions. •More personalized services to users. •Diversified policies & services. •Remote banking solutions.
Technology trends in Banking Industry Status of the industry Global innovations perspective towards tomorrow's innovations in banking
Drive to Digital: great delivery, marketing & services. Payment Disruption: new players & innovative technology. Branch optimization: Virtual branches rather than physical. Customer focused services: Digital channels & Social Channels Improved contextual experiences for leveraging data for improved service. Differentiating brands for more customized services. Mobile banking being primary source of core banking. Innovative infrastructure & concierge services. Neo banking & image banking solutions.
Digital marketing status in Banking Developing countries like India are bigger players in adopting and practicing digital marketing.
Industry insights Customer needs are being served through digital channels for utmost user experience.
Under developing countries has less digital marketing capabilities. Banking industry experiencing digital marketing and its benefits in delivering efficient services at minimal cost. Digital marketing transform the way to market banking & it services. Digital marketing offers new profitability strategies & methods to banking industry with big data. Local banking institutions are in phase to adopt digital marketing Digital core banking solutions are being adopted at all levels. Only10% to 15% of total banking industries have high level maturity.
Digital marketing trends in Banking Digital marketing representing 45% total banking marketing spents.
Industry insights
Social media involvement is being standard practice for banks for better customer engagement & services.
Digital presents opens new opportunities to exchange value with customers and optimize services
Personalized services are offering through digital channels. Mobile banking solution. Complimentary channels to banks for extended services. Real time single customers view across all channels. Segmentation of markets & customer lifecycle for lifetime value & services. One to one personalized services and special offers. Real time marketing capabilities with data driven strategy. Multi level & multi channel banking services.
SWOT analysis of Digital Marketing in Banking industry Strengths
Weaknesses
Global reach with affordable price.
Nature of digital channels.
Data driven strategies with high ROI.
Services to un-educated people.
Single window operations & customer engagement.
Cost of digitalization.
Big branding with great engagement. Scalability of marketing activities. Automated personalized services. Opportunities
Threats
Technology adaptation by individuals.
Competition from early adaptor.
Huge social, search & mobile trends.
Economical imbalances of countries.
Wider emerging markets of world.
Regulatory bodies and laws.
Open global investments of the world.
Security issues regards online banking.
Economical developments of developing Economical crises of world, countries.
Factors influencing digital marketing in Banking Industry insights Technology adaptations is primary for WOW banking experience.
Demographics are primary influencing factor digital marketing activities in banking. Economical developments of counties. Technology adaptations & updates in industry. User behavior and knowledge on digital channels. Educations and income levels of individuals. Mobile and other technology adaptations by prospective customers. Regulatory bodies & associations of banking.
Need for digital marketing in Banking Digital needs of Banking
Easy & quick services with high level of customer acquisitions and engagement. Replacement of traditional channels of marketing & sales. Increasing life cycle of customer & their engagement.
Improving user experience & support with single window banking solutions is primary factors of digital marketing.
Expanding wings of banks across globe. Great understanding of customer needs & delivering the best. To improve customer loyalty and to build branding across minds of customers. Expanding services with new product launchings. Multi tasking single window banking solutions . To automate user engagement. For instant support to users.
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