Current Accounts - UK - July 2016
“CASS switching levels reached a peak high in March 2016, indicating that competition in the current account market has improved. The growth in the proportion of new reward account openings in recent years shows that people now want more from a current account. The appetite for this type of account shows that there are opportunities to develop fee-paying accounts as long as the benefits are meaningful and relevant to key target groups. Attitudes towards fee-paying accounts appear to be softening to some extent, although the majority remain against the idea of paying for a current account.”
– Samantha Phillips, Financial Services Analyst
This report will cover the following areas:
- Parents of under-16s are a key target for customisation
- Lifestyle benefits have the potential to differentiate
- The online and mobile-only concept for banking is now more accepted than not
This Report examines how the current account market is evolving in light of these changes. It provides an overview of the size and composition of the market and reviews competitive strategies, including recent product developments in the market. Mintel’s exclusively commissioned research looks at current account ownership, consumer attitudes towards providers, current account switching activity, account tenure, and consumer attitudes towards personalised comparison services.
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
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Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
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Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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