Product Overview
Retail banking, also known as consumer banking, is a form of mass-market banking in which individual consumers use smaller commercial banks’ local branches. It provides savings and checking accounts, mortgages, personal loans, debit/credit cards, and certificates of deposit, among other services. Individuals and families can use retail banking to get financial services. The primary aim of retail banking is to provide consumer credit for the purchase of homes, vehicles, and other products. Customers can also open a checking account, a current account, an ATM card, a credit card, a savings account, or a certificate deposit. Anti-money laundering procedures require all banks to thoroughly scrutinize all of the documents they approve when offering retail banking services. Customer satisfaction is critical for retail banking sustainability, which has resulted in increased customer support across the industry. Transactional Accounts, Savings Accounts, Debit Cards, Credit Cards, Loans, and Others are the various types of items. Hardware, software, and services are examples of retail banking applications.

Market Highlights
Global Retail Banking is expected to project a notable CAGR of 6.9% in 2030.
Global Retail Banking to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of 6.9 % in the coming years, i.e., 2021-30. Over the next few years, the Retail Banking Market is expected to be driven by a rising emphasis on consumer connectivity and enhanced monitoring capabilities. In addition, retail banks’ provision of easy access to credit is expected to fuel the market in the coming years. Furthermore, banks are concentrating more on improving the customer experience by offering lower interest rates. During the forecasted years, this is expected to fuel the market.

Global Retail Banking Market: Segments
PSBs segment to grow with the highest CAGR during 2020-30
Global Retail Banking Market is segmented by type into Public Sector Banks (PSBs), Private Sector Banks, and Foreign Banks. PSB segment held the largest market share of XX.X% in the year 2020. PSBs have a greater market share because they have developed a reputation in the marketplace. These banks are expected to gain a greater market share in the coming years as their balance sheets improve, they become more competitive, and their governance improves.

Hardware segment to grow with the highest CAGR during 2020-30
Global Retail Banking Market is segmented by Solution into Hardware and Software. Over the forecast period, the Hardware segment is projected to expand at the fastest pace. Automated Teller Machines (ATMs) are retail banking hardware solutions. They’re commonly used and have a loyal following. Retail banks have common tech solutions such as card processing, payment processing, electronic commerce solutions, and check processing.

Retail segment to grow with the highest CAGR during 2020-30
Global Retail Banking Market is segmented by service into Transactional Accounts, Savings Account, Debit and Credit Cards, Loans and Others. Retail segment held the largest market share of XX.X% in the year 2020. Retail banks’ provision of easy access to credit is expected to fuel the market in the coming years.

Market Dynamics
Drivers
Enhanced monitoring capabilities and easy credit access
Surging demand of Retail Banking from numerous end-user industries is the key factor contributing in market growth. Over the next few years, the Retail Banking Market is expected to be driven by a rising emphasis on consumer connectivity and enhanced monitoring capabilities. In addition, retail banks’ provision of easy access to credit is expected to fuel the market in the coming years. Furthermore, banks are concentrating more on improving the customer experience by offering lower interest rates. During the forecasted years, this is expected to fuel the market.

Technology introduction along with consumer demand
Banks are largely transitioning to the internet or digitalized banking by introducing technology in response to changing customer demands, lifestyles, and attitudes toward banking. The global online banking market has been fueled by this factor. Countries like China, India, Japan, and Australia, on the other hand, have a strong demand for internet banking services. As a result, the sector has seen an increase in opportunities.

Restraint
Increased market regulation and rise in loan losses
There are a variety of restrictions and obstacles that could stymie business expansion. Market restrictions are likely to be imposed by factors such as increased regulation and a rise in massive loan losses.

Global Retail Banking Market: Key Players
Barclays

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

HSBC Group
Bank of America Leasing & Capital, LLC
Deutsche Bank
Mitsubishi UFJ Financial Group
Citigroup, Inc.
BNP Paribas Leasing Solution
JPMorgan Chase & Co.
China Construction Bank
Other Prominent Players
Global Retail Banking: Regions
Global Retail Banking is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Retail Banking in North America held the largest market share of XX.X% in the year 2020 in terms of revenue. Retail banks in this area are attempting to develop their business models by using digital platforms, making improvements to their consumer propositions in the MSME and affluent segments, and reshaping their branch networks. Retail banking will expand in this area as more emphasis is placed on applying secured financing techniques.

Global Retail Banking Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Retail Banking Market report also contains analysis on:
Retail Banking Market Segments:
By Type:
Public Sector Banks (PSBs)
Private Sector Banks
Foreign Banks
By Solution
Hardware
Software
By Service
Transactional Accounts
Savings Account
Debit and Credit Cards
Loans
Others
Retail Banking Market Dynamics
Retail Banking Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Retail Banking Market Report Scope and Segmentation

Frequently Asked Questions
How big is the Retail Banking market?
What is the Retail Banking market growth?
Which segment accounted for the largest Retail Banking market share?
Who are the key players in the Retail Banking market?
What are the factors driving the Retail Banking market?
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Retail Banking Market segment insights

In FY 2021, in terms of deposits, public sector banks held the highest market share (~61.26%), followed by private sector banks. The contribution of public sector banks, in terms of deposits, declined by 1.12 percentage points in FY 2021, as compared to FY 2020.

Private sector banks registered a rise in the number of ATMs, both off-site and on-site, while public sector banks experienced a decline. There were 57,679 off-site public sector bank ATMs in FY 2019, whereas in FY 2020, the number fell to 56,379. Among these, most ATMs are in semi-urban areas.

Key growth drivers of the market

• To boost India’s economic growth, the Ministry of Finance and the Reserve Bank of India took measures jointly to extend the banking network, especially among the low-income population and in rural areas.
• The use of cloud-based operations has enhanced the agility of banks. The introduction of core banking solutions has led to a rise in transaction volumes since customers can operate their accounts remotely. Almost all public and private sector banks leverage data analytics and automation technology to strengthen their business operations and improve customer satisfaction.

Key deterrents to the growth of the market

With the popularity of internet-based banking, fraudulent activities have surged. Incidents of credit card scams, spamming, spoofing, e-money laundering, ATM fraud, phishing, identity theft, and transactions through unauthorized cheques increased in FY 2019, as compared to FY 2018. This has led to customers’ dissatisfaction and loss of trust in web-based banking.

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