Financial Services


Olivier Thirion de Briel, global solutions marketing director at secure identity solutions provider HID Global, discusses the impact that the Second Payments Services Directive could have on digital banking in the UK.

Christian König, a former investment banker and current social media and content marketing consultant for financial products, talks with eMarketer about the rapid development of the financial technology sector in Southeast Asia.

Retail banks in the UK plan to close a total of nearly 500 branches this year as a result of falling demand for physical banking services in the face of online alternatives. Nevertheless, UK consumers aren’t ready to bank digital-only quite yet.

After laboring for years under strict government regulations, the financial tech sector in Japan is set to expand. And companies like ecommerce firm Rakuten are investing in startups, with an eye to growing revenues.

Digital payments service FreeCharge launched a digital mutual fund service in a bid to appeal to users who may not have had access to banking and investment services.

Two new digital banks are in the works, one backed by some of South Korea's biggest conglomerates, the other by Kakao, the country's dominant messaging app.

For Swedbank’s call center agents, customer service conversations took up valuable selling time. Instead of offering services to customers and prospects, representatives were busy handling basic service requests that customers could easily resolve on their own if given the right tools. Martin Kedbäck, channel manager at Swedbank, spoke with eMarketer about how Nina, a virtual assistant on the bank’s Swedish website, has become a solid self-service channel that leaves agents more time to close deals.

Mobile banking is not the most popular mobile activity in Malaysia, and according to March research, that’s likely because people still mistrust the channel. About three-quarters of mobile phone users are worried about mobile banking security.

Many UK internet users want facial recognition in place of passwords, as well as for conducting bank transfers. The vast majority of younger UK users also trust financial institutions to be protective of their personal and private data.

Despite digital’s growing presence in financial affairs, many banking customers in North America enjoy handling their money matters the old-fashioned way. According to research, a strong majority said they still plan to visit physical branches two years from now.

Digital banking in South Korea has dipped and then grown again over the past year, indicating that users in the country are still on the fence about performing financial tasks online.

The majority of France's internet users will bank online in 2017, according to eMarketer's first-ever forecast of digital banking in the country. But relatively few will do so using a mobile phone compared with the likes of the US.

The value of online banking transactions is on the rise in Malaysia, as is that for banking transactions on mobile devices. But digital banking customers haven’t embraced other financial technology services, such as personal wealth management, to any great degree.

Women under 30 are behind older women in money management, but they are more likely to use digital tools to help with financial tasks.

China's financial tech boom has resulted from a dearth of services offered by the traditional banking system, along with innovation and experimentation on the part of the country's tech giants. In addition, supportive governmental policies and consumer willingness to adopt digital financial services have driven growth.

In 2017, nearly 60% of the US population will be digital banking users, according to eMarketer’s new forecast.

Mobile access to bank accounts is up sharply, too. Nearly 30% of France’s web users check an account at least monthly with a mobile device; most prefer using their bank’'s mobile app rather than a mobile website, though.

Internet users in France are doing less in physical branches, and visiting them less often. A study found more than three-quarters of internet users in France with bank accounts access those accounts via their bank’s website, and more than one-quarter do so via mobile app.

Hubert JP Jolly, global head of channel and enterprise services for Citi's Treasury and Trade Solutions business, speaks to eMarketer about how Citi is making the B2B user experience easier and more mobile-friendly.

A majority of users access their mobile banking app to check balances and statements, April 2016 research revealed. Paying bills is another popular activity that they conduct.