Latest Intelligence on Current Accounts

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Type Product title / description Pub Price
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Santander hits the mark with 123

Santander has seen a substantial increase in its current account balances thanks to the success of its 123 current account. The rise in deposits is the result of a well-targeted and well-marketed proposition.

Published By Datamonitor
02 May 2013
Expert View
Expert View

Basic accounts should be offered by all

The European Commission has recently proposed that bank accounts be made cheaper, more transparent, and accessible to all. However, only one bank per territory will be required to provide a basic bank account open to any customer. The proposal must go further to demand that all banks offer this product, in order to provide greater consumer choice and spread the risk of taking on the unbanked.

Published By Datamonitor
10 May 2013
Expert View
Expert View

Post Office current accounts miss the mark

The Post Office has announced details of its three new current accounts. However, two of these accounts charge a monthly fee, and not one offers anything out of the ordinary. With other providers offering more valuable incentives to switch, the Post Office will be hard pressed to gain significant numbers of new customers.

Published By Datamonitor
14 May 2013
Expert View
Expert View

Vitamins, shampoo, bank account

GoBank in the US is encouraging customers to open current accounts on impulse. While this may reduce short-term customer acquisition costs, in the long term, this strategy may backfire.

Published By Datamonitor
17 Jul 2013
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Expert View

Challenger banks need to rethink acquisition strategies

The new UK switching rules will have little impact on customers' propensity to change bank accounts. Challenger banks will need to take an aggressive approach to acquiring customers and growing market share.

Published By Datamonitor
14 Aug 2013
Expert View
Expert View

Seven-day switching will not transform the current account market

The newly launched seven-day current account switching service will not drive a significant rise in consumer mobility, as it only addresses one of the many reasons for the high levels of inertia in this market.

Published By Datamonitor
17 Sep 2013
Expert View
Expert View

Security top priority for Asia Pacific migrants

Banks targeting migrants from Asia Pacific need to educate this potentially lucrative segment about investment options, while leading with products that appeal to their need for financial certainty.

Published By Datamonitor
23 Oct 2013
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Expert View

Pub education for British expats

Mobile banking penetration is low among British expats. Providers reaching out to this otherwise well banked segment need to invest in customer education to increase mobile banking adoption rates.

Published By Datamonitor
25 Oct 2013
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Expert View

Clydesdale and Yorkshire ready to compete on interest rates

Clydesdale and Yorkshire Banks have launched an attractive current account. However, they face an increasingly competitive interest-paying current account market.

Published By Datamonitor
31 Oct 2013
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Expert View

Latin American migrants most underbanked

New research by Datamonitor Financial has found that migrants from Latin America are the least likely of any immigrant group to have a current account.

Published By Datamonitor
07 Nov 2013

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