DUBLIN, June 10, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/r9cbvh/personal_banking) has announced the addition of the "Personal Banking 2015" report to their offering.
This report identifies the size of key components of the personal banking market, the current structure of the industry and the competitive environment in which banks operate. It also discusses new and upcoming regulatory and legislative developments that have been imposed on the industry in the wake of the financial crisis.
The personal banking market in the UK changed irrevocably with the onset of the credit crunch and financial crisis. Although it is still home to two of the top ten largest banks in the world by assets in 2014 according to the website relbanks.com (HSBC Holdings and Barclays PLC), this is down from three in the top ten in 2011. The sector is also a notable employer, providing work for 1.1 million people in 2013; this put 3.5% of UK workers in the finance and insurance sector. As well as being a contributor to economic growth and an employer of note, the UK banking sector is also vital to the everyday workings of commerce and the wider economy. Technological expansion has meant that electronic payments - such as direct debits, standing orders and plastic cards - are used by the average individual and company every day. Without the ability to do this via banks and personal banking, the economy would grind to a halt.
It is against the background of the economic crisis that the personal banking sector in the UK operates: it must deal with the legacy of the financial crisis, including nationalisations, high levels of debt and new, more stringent regulation with regard to lending rules and capital buffers. This report will examine the ways in which these factors, and others, are affecting the provision of banking services to UK consumers.
The UK personal banking market delivers a wide range of banking products and services to individuals. Such products and services include:
- Personal current accounts and services relating to them distributed online, over the telephone, in branch or via mobile services
- Methods of accessing current accounts, such as debit cards, automated teller machine (ATM) cards and cheque books
- Various savings accounts
- Certain investment products
- Credit in various forms, including unsecured personal loans, mortgages and credit cards
- Risk management, for example insurance products.
For more information visit http://www.researchandmarkets.com/research/r9cbvh/personal_banking
Media Contact: Laura Wood , +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets