Self-Service Branch Banking Market 2020 Foresight in New Research Report at RnRMarketResearch.com
Dallas, Texas (PRWEB) September 13, 2013 -- The retail banking industry’s banking channel has evolved from traditional full-service branch banking to alternate channels such as online, mobile and self-service. Full-service branches still play a key role in the distribution of banking products and services as banks rely on these branches to generate the vast majority of revenue. However, the operating expenses and infrastructural investments associated with full-service branches encourage banks to consider low-cost self-service branch banking to expand their market presence. Banks have redefined branch banking following the financial crisis in order to maintain operational efficiency and to improve overall financial performance. While full-service branches remain the primary contact point for customers, banks realize that the expansion of the branch model is not sustainable due to rising real estate costs and changing consumer preferences. Low-cost channels such as self-service, online and mobile banking have therefore been gaining momentum. These channels are adopted with the aim of cost-effectively expanding business in rural and unbanked areas.
Complete report available @ http://www.rnrmarketresearch.com/2020-foresight-report-self-service-branch-banking-market-report.html.
Scope
• This report provides a comprehensive analysis of self-service branch banking business models adopted by retail banks
• It gives insight into the various trends seen in self-service branch banking
• It details insights on the operational, technological and regulatory drivers driving the growth of retail banks while offering services under self-service branch banking
• It details the implementation strategies and best practices adopted by retail banks to offer their self-service branch banking services across the globe
• It provides case studies on self-service branch banking implemented by various retail banks and their outcomes
The number of ATMs deployed in key countries increased during the review period (2008–2012), making them the most widely-used self-service banking model. In the US, the total number of ATMs increased from 425,010 in 2008 to 444,872 in 2012.
The adoption of new technology enables banks to upgrade their branch banking models with advanced banking features and to distinguish themselves from competitors. Such features include biometric ATMs for secure banking transactions and contactless ATMs for faster transactions. Furthermore, the use of videoconferencing in ATMs enables interaction with bank employees for banking assistance.
Retail banks around the world seek to expand their business footprints in unbanked and under-banked areas to target new customers and gain market share. However, the establishment of full-service branches is not always feasible for banks due to the costs associated with it, driving banks to adopt the self-service branch banking model to remain cost-effective. Banks set up these types of branches in remote areas and at places with high customer footfall such as stadiums, shopping malls, railway stations and marketplaces.
The penetration of self-service branches has increased as banks are more reliant on offering quality service and enhanced customer experiences through facilities in these branches such as automated self-service kiosks, flagship branches, contactless ATMs and in-store self-service branches. Consumers can now conduct around 80% of banking transactions through ATMs and other automated banking channels without staff assistance.
Purchase a copy of this report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=114457.
Browse more reports on Banking & Financial Services Company Market at http://www.rnrmarketresearch.com/reports/business-financial-services/financial-services/banking-financial-services-company.
About Us:
RnRMarketResearch.com is an online database of market research reports offer in-depth analysis of over 5000 market segments. The library has syndicated reports by leading market research publishers across the globe and also offer customized market research reports for multiple industries.
Explore industry research reports focused on China at http://www.deepresearchreports.com.
Priyank Tiwari, RnR Market Research, http://www.rnrmarketresearch.com/, +1-888-391-5441, [email protected]
Share this article