Russia Retail Banking Market Size , Share , Key Trends , Emerging Opportunities , Strategies , Drivers , Outlook and Competitive Landscape 2016
Russia Retail Banking Market Size , Share , Key Trends , Emerging Opportunities , Strategies , Drivers , Outlook and Competitive Landscape 2016
Summary Russia ' s economic crisis continues to negatively impact the market . Russian consumers have shown a preference towards conservative banking practices that can provide them with added security and stability amid a market in turmoil . Consumers favor providers that have a good reputation and with whom they have an existing relationship . Fintech providers are well known .
Synopsis This brief reviews the retail banking sector in Russia , 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 .
Read Complete Report with TOC @ http :// www . radiantinsights . com / research / retail-banking-country-snapshotrussia
The report offers insight into : - How consumers in Russia 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 - Reputation , branch location , and the convenience of opening an account are the most influential factors driving choice of provider , which gives established banks an advantage over digital-only entrants . Consumers are increasingly using online for more complex activities , and the next step is for banks to upgrade mobile with chatbots and other functionality to help with query resolution .
- Savers choose their providers on the basis of reputation and branch location , followed by having an existing relationship . This works against new entrants and highlights the importance of cross-selling in a savings-oriented market . Consumers are mainly saving to protect against unplanned events , so tools and online / mobile apps that help consumers set aside small amounts on a frequent basis will help .