Retail Banking Country Snapshot: Sweden 2016

Published: November 2016
No. of Pages: 47
    ReportsandReports

Summary

Sweden has a competitive market for most financial products, with only Swedbank maintaining a dominant position in the provision of current accounts, savings accounts, and mortgages. Overall, consumers are cautious in their choice of provider, favoring those with strong reputations and nearby branches. However, comparisons between life stage segments differ significantly. Young Swedish consumers are much more inclined to act on recommendations than older consumers. Swedish consumers demonstrate higher price sensitivity relative to other markets. Digital self-service channels are the most popular channels for day-to-day banking activities, with telephone and branch channels used for more complex tasks. Fintech usage will soon become mainstream in Sweden. Home ownership is the number one savings goal in 2016, while borrowing to cover everyday living expenses has seen high year-on-year growth.

Key Findings

  • Among consumers as a whole, reputation, branch location, and price are the three most influential drivers across all products. With the exception of savings providers, Swedish consumers do not favor local brands over international brands.
  • Recommendations are the most influential factor for young consumers choosing a current account provider.
  • Overall, the majority of growth in all product areas is driven by small players gaining market share at the expense of large providers
  • The younger family segment is the most restless of the life stages, as highlighted by our Megatrends framework and their propensity to switch providers. Our data suggests they are seeking more flexible products and services that suit their circumstances better.

Synopsis

Verdict Financial's "Retail Banking Country Snapshot: Sweden 2016" reviews the retail banking sector in Sweden, 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.

The report offers insight into:

  • How consumers in Sweden 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.

Reasons To Buy

  • Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Sweden's retail banking sector.
  • Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
  • Learn about the impact new entrants and distribution channels will have on the market.

Companies Mentioned

  • Swedbank
  • SEB
  • Nordea
  • Handelsbanken
  • ICA Banken
  • Skandia Banken
  • Danske Bank
  • MedMera
  • Länsförsäkringar
  • Resurs Bank
  • Marginalen Bank

Published By: GlobalData
Product Code: Verdict446


Did you find what you are/were looking for ? If not, read below and browse through other relevant pages for similar market research reports OR get in touch with us through the form/contact info in your right navigation panel and well share relevant market report titles for you to explore.

Related Reports:


Why ReportsnReports.com?

  • 500,000 market research reports and growing.
  • Top Fortune 500 Organizations trust us for research data.
  • 24/7 support on call as well as emails.
  • Your Details are safe with us.
  • Free support for your research requirements.
  • Report Delivery: Email
  • Delivery Time:
    • Upto 24 hrs - working days
    • Upto 48 hrs max - weekends and public holidays

Research Support / Custom Research

If this business study does not have the data and information analysis you need, contact us with your research requirements. We explore available market research reports to map your needs and share report titles with you. Alternatively, we can also offer custom research that suits your budget and timelines. Share your information requirements here.
Connect With Us
Email: sales@reportsandreports.com Call : + 1 888 391 5441

Subscription Option

Using our subscription option, you get access to market research reports and industry data of Consumer Goods market as per your needs. Get the best of Consumer Goods research reports by utilizing your research budgets in an optimum way.

More about our Subscription option
Report Alerts

Get Email alerts about market research reports from industries and publishers of your interest: