Table of Contents
- Scope and Themes
- What you need to know
- Scope of this report
- Consumer research methodology
- Abbreviations and terms
- Abbreviations
- Terms
- Executive Summary
- Top industry trends
- Economic and financial overview
- Service channels
- Are Wal-Mart and other retailers a threat?
- Mintel' s consumer survey -- what do consumers think of their banks?
- Dispelling common notions regarding Hispanic consumers
- Do I like my bank?
- The bundled-service myth
- Should I switch banks?
- What would make me change my bank?
- The Wal-Mart threat
- Big-bank customers vs. those of other financial institutions
- The Retail Banking Environment
- Economic influences
- Introduction
- Figure 1: Higher bank loss provisions contribute to earnings decline, Q2
2006-Q2 2007
- Uncertain housing market
- Figure 2: Private housing starts, 1993-2006
- Are businesses righting the economic ship?
- Figure 3: Capital spending, 2000-07
- Consumers in debt
- Credit card debt
- Mortgages
- Figure 4: Noncurrent mortgages and HELOCs, 2004-07
- Foreclosures
- Trends and Factors Driving Retail Banking
- Banking industry developments
- Trends in number of banks and banking assets
- Figure 5: Number of banks, and share of assets at the largest banks,
1990-2006
- Figure 6: Change in number of banks, 2001-06
- Figure 7: Asset size distribution among banks, 2001-06
- Investigation of banking fees
- Figure 8: Estimated fee-based overdraft loan fees paid by consumers,
2004 and 2006
- Demographic factors
- Population changes
- Figure 9: Projected population of the United States, by race and
hispanic origin: 2000-50
- Hispanic buying power
- Figure 10: Hispanic disposable income in the ten states with the largest
Hispanic markets, 2006
- The bank/customer relationship
- Does "customer delight" exist?
- Branches
- A web of opportunity (and threats)
- Identity theft, security, and fraud
- Technological innovations
- Young consumers and technology
- "Wal-Martization" of banking
- Using data to sell new products and services
- Market Size and Trends
- Total assets
- Figure 11: Assets of FDIC-insured banking organizations, 12/91-06/07
- Figure 12: Total assets of FDIC-insured banking organizations, and
number of institutions, 1990 -- Q2 2007
- Assets by organization
- Figure 13: Top 20 U.S. banking institutions, by total assets, 06/30/2007
- Figure 14: Top ten bank and thrift holding companies by deposits, June
30, 2007
- Figure 15: Number of banks with total assets over $20 billion, 2003-07
- Advertising and Promotion
- Online
- Direct mail
- Top ten overall banking mailers, April 2006-June 2007
- Top ten checking mailers, April 2006-June 2007
- Notable checking account mailers, 2007
- Figure 16: Wachovia Bank, 2007
- Figure 17: ING Direct mail creative, media ID 20070702-11072
- Top ten debit card mailers, April 2006-June 2007
- Notable debit card mailers, 2007
- Figure 18: Wamu debit mastercard direct mail creative, 2007
- Figure 19: Citibank direct mail creative, 2007
- Top ten online banking services mailers, April 2006-June 2007
- Notable online banking services mailers, 2007
- Figure 20: Bank of America direct mail creative, 2007
- Figure 21: Fifth Third Bank direct mail creative, 2007
- Building loyalty through savings advertising
- Figure 22: Keycorp print creative, 2007
- Targeting Hispanic consumers
- Television
- Citi
- Bank of America
- National City
- Chase
- The Banking Consumer
- Banked and unbanked
- Figure 23: Retail banking account use, by gender and age, August 2007
- Figure 24: Retail banking account use, by race/ethnicity, August 2007
- Figure 25: Retail banking account use, by education, August 2007
- Figure 26: Retail banking account use, by marital status, August 2007
- Where do consumers bank?
- Figure 27: Primary financial services provider, by gender, August 2007
- Figure 28: Primary financial services provider, by age, August 2007
- Figure 29: Primary financial services provider, by household income,
August 2007
- Figure 30: Primary financial services provider, by race/ethnicity,
August 2007
- Figure 31: Primary financial services provider, by region, August 2007
- Figure 32: Primary financial services provider, by education level,
August 2007
- Primary method used to pay household bills
- Figure 33: Method of paying household bills, by gender, August 2007
- Figure 34: Method of paying household bills, by age, August 2007
- Figure 35: Method of paying household bills, by household income, August
2007
- Figure 36: Method of paying household bills, by race/ethnicity, August
2007
- Figure 37: Method of paying household bills, by education level, August
2007
- Consumer banking and the Internet
- Length of online billpay use
- Figure 38: Use of online billpay, by gender, August 2007
- Figure 39: Use of online billpay, by age group, August 2007
- Figure 40: Use of online billpay, by household income, August 2007
- Figure 41: Use of online billpay, by education, August 2007
- Services conducted primarily online
- Figure 42: Services conducted primarily online, by gender, August 2007
- Figure 43: Services conducted primarily online, by age group, August 2007
- Figure 44: Services conducted primarily online, by household income,
August 2007
- Figure 45: Services conducted primarily online, by race/ethnicity,
August 2007
- Figure 46: Services conducted primarily online, by education, August 2007
- Noteworthy attributes of large bank customers
- Figure 47: Attributes of large bank customers, August 2007
- Figure 48: Attributes of large bank customers, use of online billpay,
August 2007
- Figure 49: Attributes of large bank customers, August 2007
- Figure 50: Attributes of large bank customers, communications
preference, August 2007
- Figure 51: Attributes of large bank customers, August 2007
- Figure 52: Have switched banks in the last 12 months, August 2007
- Figure 53: Preferences of large bank customers -- switching behavior,
August 2007
- Figure 54: Number of banking relationships, August 2007
- Consumer Communication and the Banking Relationship
- Figure 55: Communications preference, by gender, August 2007
- Figure 56: Communications preference, by age group, August 2007
- Figure 57: Communications preference, by household income, August 2007
- Figure 58: Communications preference, by race/ethnicity, August 2007
- Figure 59: Communications preference, by education level, August 2007
- Preference for ways of communicating with a bank for selected services
- Getting a mortgage
- Figure 60: Preferred ways of communicating with a bank for: Getting a
mortgage, by gender, August 2007
- Figure 61: Preferred ways of communicating with a bank for: Getting a
mortgage, by age, August 2007
- Figure 62: Preferred ways of communicating with a bank for: Getting a
mortgage, by household income, August 2007
- Figure 63: Preferred ways of communicating with a bank for: Getting a
mortgage, by race/ethnicity, August 2007
- Figure 64: Preferred ways of communicating with a bank for: Getting a
mortgage, by education, August 2007
- Financial planning
- Figure 65: Preferred ways of communicating with a bank for: Financial
planning, by gender, August 2007
- Figure 66: Preferred ways of communicating with a bank for: Financial
planning, by age, August 2007
- Figure 67: Preferred ways of communicating with a bank for: Financial
planning, by household income, August 2007
- Figure 68: Preferred ways of communicating with a bank for: Financial
planning, by race/ethnicity, August 2007
- Figure 69: Preferred ways of communicating with a bank for: Financial
planning, by education, August 2007
- Setting up an IRA
- Figure 70: Preferred ways of communicating with a bank for: Setting up
an IRA, by gender, August 2007
- Figure 71: Preferred ways of communicating with a bank for: Setting up
an IRA, by age, August 2007
- Figure 72: Preferred ways of communicating with a bank for: Setting up
an IRA, by household income, August 2007
- Figure 73: Preferred ways of communicating with a bank for: Setting up
an IRA, by race/ethnicity, August 2007
- Figure 74: Preferred ways of communicating with a bank for: Setting up
an IRA, by education, August 2007
- Setting up an educational savings account
- Figure 75: Preferred ways of communicating with a bank for: Setting up
an educational savings account, by gender, August 2007
- Figure 76: Preferred ways of communicating with a bank for: Setting up
an educational savings account, by age, August 2007
- Figure 77: Preferred ways of communicating with a bank for: Setting up
an educational savings account, by income, August 2007
- Figure 78: Preferred ways of communicating with a bank for: Setting up
an educational savings account, by race/ethnicity, August 2007
- Figure 79: Preferred ways of communicating with a bank for: Setting up
an educational savings account, by education, August 2007
- Retirement planning
- Figure 80: Preferred ways of communicating with a bank for: Retirement
planning, by gender, August 2007
- Figure 81: Preferred ways of communicating with a bank for: Retirement
planning, by age, August 2007
- Figure 82: Preferred ways of communicating with a bank for: Retirement
planning, by household income, August 2007
- Figure 83: Preferred ways of communicating with a bank for: Retirement
planning, by race/ethnicity, August 2007
- Figure 84: Preferred ways of communicating with a bank for: Retirement
planning, by education, August 2007
- To refinance my mortgage
- Figure 85: Preferred ways of communicating with a bank: To refinance my
mortgage, by gender, August 2007
- Figure 86: Preferred ways of communicating with a bank: To refinance my
mortgage, by age, August 2007
- Figure 87: Preferred ways of communicating with a bank: To refinance my
mortgage, by income, August 2007
- Figure 88: Preferred ways of communicating with a bank: To refinance my
mortgage, by race/ethnicity, August 2007
- Figure 89: Preferred ways of communicating with a bank for: Refinancing
my mortgage, by education, August 2007
- To apply for a HELOC
- Figure 90: Preferred ways of communicating with a bank for: Obtaining a
home equity line of credit, by gender, August 2007
- Figure 91: Preferred ways of communicating with a bank: To get a home
equity line of credit, by age, August 2007
- Figure 92: Preferred ways of communicating with a bank: To get a home
equity line of credit, by income, August 2007
- Figure 93: To get a home equity line of credit, by race/ethnicity,
August 2007
- Figure 94: Preferred ways of communicating with a bank: To get a home
equity line of credit, by education, August 2007
- Consumer thoughts about their banking relationship
- Figure 95: Consumer thoughts about their banking relationship, by
gender, August 2007
- Figure 96: Consumer thoughts about their banking relationship, by age,
August 2007
- Figure 97: Consumer thoughts about their banking relationship, by
income, August 2007
- Figure 98: Consumer thoughts about their banking relationship, by
race/ethnicity, August 2007
- Figure 99: Consumer thoughts about their banking relationship, by
education, August 2007
- Consumer Loyalty and Factors Driving Loyalty
- Changing primary banks in the last 12 months
- Figure 100: Change in primary bank, by gender, August 2007
- Figure 101: Change in primary bank, by age, August 2007
- Figure 102: Change in primary bank, by income, August 2007
- Figure 103: Change in primary bank, by race/ethnicity, August 2007
- Figure 104: Change in primary bank, by education, August 2007
- Potential causes for changing primary banks in the future
- Figure 105: Potential reasons for switching banks, by gender, August 2007
- Figure 106: Potential reasons for switching banks, by age, August 2007
- Figure 107: Potential reasons for switching banks, by income, August 2007
- Figure 108: Potential reasons for switching banks, by race/ethnicity,
August 2007
- Figure 109: Potential reasons for switching banks, by education, August
2007
- Number of banking relationships
- Figure 110: Number of banking relationships, by gender, August 2007
- Figure 111: Number of banking relationships, by age, August 2007
- Figure 112: Number of banking relationships, by income, August 2007
- Figure 113: Number of banking relationships, by race/ethnicity, August
2007
- Figure 114: Number of banking relationships, by education, August 2007
- Banking with Wal-Mart
- Figure 115: Demographic characteristics of Wal-Mart customers vs. the
U.S. population overall, Spring 2007
- Conducted banking services at Wal-Mart in the last year
- Figure 116: Banking services at Wal-Mart, by gender, August 2007
- Figure 117: Banking services at Wal-Mart, by age, August 2007
- Figure 118: Banking services at Wal-Mart, by income, August 2007
- Figure 119: Banking services at Wal-Mart, by education, August 2007
- Would you leave your current bank for Wal-Mart?
- Figure 120: Leave current bank for Wal-Mart, by gender, August 2007
- Figure 121: Leave current bank for Wal-Mart, by age, August 2007
- Figure 122: Leave current bank for Wal-Mart, by income, August 2007
- Figure 123: Leave current bank for Wal-Mart, by race/ethnicity, August
2007
- Figure 124: Leave current bank for Wal-Mart, by education, August 2007
- Future and Forecast
- Future trends
- Market readjustment
- Real estate woes
- Fees as income
- Technology
- Redefining customer service
- Market forecast
- Assets at FDIC-insured banking organizations
- Figure 125: Forecast of total assets at FDIC-insured banking
organizations, at current and constant prices, 2006-11
- Figure 126: Graph: Forecast of total assets at FDIC-insured banking
organizations, at current and constant prices, 2006-11
- Appendix: Trade Associations
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