With inflation and interest rates likely to remain elevated, it is important that providers offer suitable advice and products to help companies through these times.
Stay ahead of the curve and future-proof your business with Mintel’s UK Commercial Banking and Finance Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest commercial banking market research, trends and consumer behaviours affecting your business. Get a 360° view of the commercial banking market including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
In a low-growth, high inflation economic climate, large businesses will continue to obtain the banking service they need on a wholesale basis from the major banks, but smaller forms will source theirs from a wider range of providers – each offering the most suitable services tailored to particular competitive niches.
Expand on digital offerings
While banks have digitised workflows, customer satisfaction with self-service tools remains low due to consistent pain points. Consumers are looking for a seamless digital experience which generates opportunities for banks to deliver integrated channels to deliver a faster, more convenient experience and resolve problems more efficiently.
Underserved SME and start-up sectors
Despite high demand for banking and finance from SMEs and start-ups, the development of suitable products and services for these businesses has continued to elude most providers. Mainstream banks need to innovate to help improve their risk management practices and satisfy the more tech-focused and retail banking-like expectations of these customers.
Purchase our UK Commercial Banking and Finance Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Branch Banking and Market 2023. or our range of Financial Market Research.
Barclays, HSBC, LBG, NatWest Group and Santander, Starling Bank, Monzo, Co-operative Bank, Natwest.
This report, written by Lewis Cone, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the commercial banking market and add expert context to the numbers.
With inflation and interest rates likely to remain elevated, it is important that providers offer suitable advice and products to help companies through these times.
Lewis Cone
Associate Director – Financial Services
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