リテールバンキング市場における非従来型企業の動向

Abstract

Overview

Introduction

This report looks at the rise of non-traditional providers in the retail banking market and their impact on the competitive dynamics of the market. Moreover, it looks at the extent of development and penetration of non-traditional FSIs in each country, and provides best-practice case studies of some of the leading players, along with studies of other noteworthy players in the market.

Scope

• Measures the extent of development of non-traditional players in Australia, France, Germany, Italy, Japan, Spain, the UK, and US.
• Gives insight into the strengths and weaknesses of non-traditional financial services institutions.
• Provides case studies of Deutsche Postbank, La Banque Postale, UK Post Office, Auchan, Tesco, ICA Banken, Wal-Mart, Virgin Money, the AAA, and others.

Highlights

Each country differs in the level of development of non-traditional players. For example, French retailers have entered into financial services wholeheartedly, but its other providers have been more reticent. Meanwhile, the UK and Japan have a large number of different non-traditional FSIs.

Deutsche Postbank has become a dominant player in the German retail banking market; the largest bank in terms of customer numbers. Its ability to compete on price and its accessibility via a huge distribution network has enabled it to poach customers from its direct competitors.

Non-traditional players can have a number of distinct advantages over traditional FSIs. These include comparatively inexpensive distribution, brand leveraging, and the ability to provide better customer service. Such attributes have been crucial to the success and encroachment of non-traditional players on traditional providers in the market.

Reasons to Purchase

• Gives you a competitive edge by providing you with a number of case studies, including postal offices, retailers, automotive companies and others.
• Understand how the retail banking market is changing and where the threats and opportunities lie, both for non-traditional and traditional providers.
• Ascertain what the best business models and products are in order to plan your future business strategy.

Table of Contents

• CHAPTER 1 INTRODUCTION
  • What is this report about?
  • Scope of the report
  • Who is the target reader?
  • How to use this report
• CHAPTER 2 NON-TRADITIONAL PLAYERS IN CONTEXT
  • Introduction
  • Non-traditional providers are now commonplace within the retail banking marketplace
    • Non-traditional providers from a range of sectors are present in retail banking markets around the globe
    • Many entered off the back of the direct banking revolution, although others have been around for much longer
      • The majority entered after the direct banking revolution
      • However, others have been in the market for many years
  • Each country' s retail banking market is at a different point of development in terms of penetration by non-traditional providers
    • Australia is still new to non-traditional retail banking services
    • French retailers have entered into financial services wholeheartedly, but other providers have been more reticent
    • The German postal office is a highly developed FSI, but most retailers do not offer financial services
    • Non-traditional FSIs in Italy remain relatively undeveloped
    • Japan has a range of non-traditional providers from all types of backgrounds
    • Spanish non-traditional FSIs are gaining ground from a low base
    • The UK has a large number of different non-traditional FSIs
    • The US market is a mix of highly and barely developed non-traditional FSIs
  • Entry strategies have varied, although many have entered in partnership with traditional FSIs
    • Most have entered in partnership with a traditional FSI
      • Affinity marketing does not actually mean entry into the financial services industry
      • Co-branding is a popular method that can take advantage of both brands
      • White labeling leverages the non-traditional player' s brand exclusively
      • Joint ventures offer each partner ownership
    • Yet, some have entered the market independently
    • Whether alone or in partnership, most opted for a simple product offering before launching complex products
  • Non-traditional players can have a number of distinct advantages over traditional FSIs
    • Some non-traditional FSIs can use comparatively inexpensive and effective distribution
    • Non-traditional FSIs can leverage their brand
    • Offering good customer service can be an effective acquisition tool
  • Yet there are weaknesses that they have not as of yet overcome
    • Many financial services products are complex to sell
    • The cost of development into a financial service provider can be high
    • In some markets, regulation still impedes non-traditional providers from penetrating the market
  • Conclusions
• CHAPTER 3 CASE STUDIES OF NON-TRADITIONAL PLAYERS IN THE RETAIL BANKING MARKET
  • Introduction
  • Post offices are potentially the greatest threat to traditional FSIs
    • Deutsche Postbank AG: a leading example of the extent to which post offices could dominate
      • A brief background to Deutsche Postbank AG
      • Postbank is a full financial services provider for private clients
      • Postbank competes on price
      • Postbank is strong in distribution and product processing
      • With BHW, Postbank has to deliver its first major integration process
      • In fact, the BHW acquisition is opening various opportunities for Postbank...
      • ... but the dominance of the Sparkassen Group remains unbroken
    • La Banque Postale: attempting diversification into new product areas
      • A brief background to La Banque Postale
      • La Banque Postale relies on its huge savings volume linked to the Livret A
      • La Banque Postale is now concentrating on building up its lending business
      • The immense savings side of La Banque Postale could support the development of its lending division
      • Becoming an effective mortgage lender will not be easy
    • The UK Post Office: the potential to have a radical impact on the UK banking market
      • A brief background to the UK Post Office
      • The Post Office has been involved in the financial services market for many years now
      • However, because of financial difficulties, the Post Office has more recently pushed further into the financial services market
      • The Post Office offers a diverse range of financial services products
      • The Post Office relies on a number of characteristics to sell financial services products
      • Moreover, the Post Office is now bringing innovation to its financial services products
      • However, while there have been successes, there is a way to go before the Post Office exerts a significant command on the UK banking market
    • Japan Post Office: sink or swim for the world' s largest deposit taker?
      • A brief background to Japan Post
      • Japan Post is a huge provider of retail financial services
      • In a radical move, Japan Post is to undergo privatization
      • But will it be successful?
  • Retailers are fast expanding their provision of financial services
    • Auchan: continued improvement via low pricing and pervasive distribution
      • A brief background to Auchan
      • Auchan is one of the largest retailers in the financial services arena in Europe
      • Banque Accord is the group' s financial services subsiduary
      • Auchan has a strong product portfolio
      • Auchan follows a strategy of mass market distribution and low pricing
      • Future direction: continued expansion
    • Tesco Personal Finance: utilizing an aggressive approach to continue expansion
      • A brief background to Tesco
      • Tesco Personal Finance has used partnerships to enter the market
      • One of TPF' s main strategies is to build up customer loyalty by linking up some of its products to Tesco' s Clubcard loyalty scheme
      • In addition, a number of other strategies have contributed to its success
      • Future direction: more of the same but with greater reach
    • ICA Banken: succeeding by going down the independent route
      • A brief background to ICA
      • ICA Banken established itself independently, without a partnership with a traditional FSI
      • A card loyalty scheme is the cornerstone of its strategy
      • However, ICA Banken also relies on its cost effective distribution outlets
      • Future direction: continued expansion of services and location
    • Wal-Mart: a potential giant on the horizon?
      • A brief background to Wal-Mart
      • At present, Wal-Mart offers a limited number of financial services...
      • ...but it plans to open Wal-Mart Bank
      • At present it is unsure whether Wal-Mart will receive a banking license
      • However, if given the go-ahead on a banking license, Wal-Mart could have a large impact on the banking industry
      • Other providers besides Wal-Mart would also change the banking market in the US
  • Automotive companies are gradually becoming more involved
    • BWM Financial Services: using its strong brand to acquire and retain customers
      • A brief background to BMW Financial Services
      • BMW Financial Services product and service range differs widely from market to market
      • BMW Financial Services is attempting to intensify the relationship between BMW and its customers
      • But BMW Financial Services differs somewhat from other non-traditional providers in that its main aim is to assist the core business of selling cars
    • The American Automobile Association: benefiting from its sheer size and customers' trust
      • A brief background to AAA
      • The AAA Financial Services Department was created in 1982
      • Its available product range differs from club to club
      • AAAs success can partly be attributed to its desire to add value to members
      • It also benefits from its non-profit status and customersｴgoodwill towards the organization
      • Yet AAAs main focus is not on financial services
  • Others have also made a mark
    • Virgin Money: leveraging its group' s brand successfully
      • A brief background to Virgin
      • Virgin Money is the group' s personal finance provider
      • Virgin Money has used its group' s brand to become well-recognized and respected in the financial services marketplace
      • It has also followed the group' s main values to build up a successful business
      • Future direction: continued international growth
  • Conclusions
• CHAPTER 4 THE FUTURE ROLE OF NON-TRADTIONAL RETAIL BANKING PLAYERS
  • Non-traditional players are gaining in importance
    • Those non-traditional providers that have penetrated their retail banking markets share common success factors
    • Moreover, it is such factors that traditional FSIs will have to face in years to come
  • However, there is a long way to go
    • Indeed, there remain many businesses that have yet to get involved in the retail banking industry
  • Yet, ultimately, non-traditional providers will become part and parcel of the financial services landscape
• CHAPTER 5 APPENDIX
  • Supplementary data
    • Data table relating to the UK Post Office profile
    • Data tables relating to the Tesco Personal Finance profile
  • Definitions
    • Balances outstanding
    • CAGR
    • Captive finance house
    • FSI
    • Gross advances
    • Motor finance
    • Non-traditional FSI
  • Research methodology
  • Relevant readings
  • Datamonitor' s custom research capabilities
  • Retail Banking Team contact details
  • How to contact experts in your industry
  • List of Tables
    • Table 1: Key figures for Postbank, 2000-2006
    • Table 2: Key figures for La Banque Postale, 2004-2005
    • Table 3: Total assets and operating income of the major banks in Sweden and ICA Banken, 2004
    • Table 4: Key markets for BMW Financial Services, 2006 (1 of 2)
    • Table 5: Key markets for BMW Financial Services, 2006 (2 of 2))
    • Table 6: Large UK banks by the number of UK branches, 2004
    • Table 7: Tesco Personal Finance financials, 2001-2005
    • Table 8: Advertising spend on financial services by a number of traditional and non-traditional FSIs, 2005
  • List of Figures
    • Figure 1: Many different types of non-traditional players are now involved in the retail banking market, but their extent of penetration in the market differs across countries, 2006
    • Figure 2: Postbank offers an extensive range of products and services, 2006
    • Figure 3: La Banque Postale' s products and services, 2006
    • Figure 4: The Post Office is now pushing its financial services, as well as other retail services, July 2006
    • Figure 5: The number of Post Office branches dwarfs all of the largest banks in the UK, 2004
    • Figure 6: Tesco Personal Finance has generated profits since 2001, 2001-2005
    • Figure 7: Part of Tesco Personal Finance' s success is due to its competitive pricing, which helps to place its products consistently in the Best Buy tables, July 2006
    • Figure 8: Tesco Personal Finance is one of the largest non-traditional financial services providers in terms of advertising spend in the UK, 2005
    • Figure 9: Tesco Personal Finance has gone for a more "fun" approach to its online platform, July 2006
    • Figure 10: ICA offers four different type of loyalty cards, three of which have debit and or credit functions, July 2006
    • Figure 11: BMW Financial Services has 26 subsidiaries worldwide, 2006
    • Figure 12: AAA Financial Servicesｴ products and services, 2006
    • Figure 13: Datamonitor' s core consulting capabilities