New Zealand Retail Banking Market Size , Share , Key Trends , Emerging Opportunities , Strategies , Outlook and Competitive Landscape
New Zealand Retail Banking Market Size , Share , Key Trends , Emerging Opportunities , Strategies , Outlook and Competitive Landscape
Summary New Zealand has a highly concentrated market for most financial products , with ANZ , ASB , and Westpac dominating the provision of current accounts , savings accounts , and mortgages . Consumers are cautious in their choice of provider , favoring those with strong reputations and nearby branches . Mobile is now a significant channel for routine transactions , although use is heavily skewed towards younger age groups . Satisfaction with digital channels is significantly higher than for branches and call centers .
Synopsis Verdict Financial ' s “ Retail Banking Country Snapshot : New Zealand 2016 ” reviews the retail banking sector in New Zealand , with a particular focus on the current account , savings , mortgage , and personal loans markets . It includes both market-level data and insight from our Retail Banking Insight Survey .
Browse Full Report with TOC @ http :// www . radiantinsights . com / research / retail-banking-country-snapshotnew-zealand
The report offers insight into : - How consumers in New Zealand take out and use their financial products , and how this has changed in recent years .
- Which providers dominate the current account , savings , mortgage , and loan markets , and what factors persuaded their customers to choose them .
- The extent to which consumers are using online and mobile channels to research , take out , and use their financial products .
Key Findings - Among consumers as a whole , reputation and branch location are the two most influential drivers of choice of current account provider , and are particularly important to post-family consumers . Younger consumers are particularly reliant on personal recommendations .
- Borrowers overwhelmingly prefer direct application for mortgages , with 70 % of all current borrowers having chosen this option . However , this has fallen slightly over time , while independent financial advisors and specialist brokers have both claimed a rising share of the market .