Banking Competitor Analysis for European Market Entry

December 21, 2017

Competitor Analysis for a Banking Firm

With the rising global uncertainty, banks need to start looking beyond compliance to improve their financial performance while focusing on business outcomes. The banking sector is highly fragmented and comprises retail banking, corporate and investment banking, and asset and wealth management companies. Banks must adopt competitor analysis solutions.

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The Business Challenge

The client: A leading banking company

A leading client in the banking sector wanted to understand the competitors, their services, and effectively analyze their current and future market share. With Infiniti’s competitor analysis solution, the client wanted to understand each competitor’s market share, their past strategies and current strategies, and the method of distribution and extent of customer service for the services rendered. With the help of the competitor analysis study, the client wanted to carry out a robust SWOT analysis to identify the possible threats and opportunities in the market landscape.

Solution Delivered

The competitor analysis solution offered by Infiniti helped the client in the banking sector tap into the potential strengths and weaknesses and determine how the competitors are working. The engagement also focused on gaining relevant insights into the customer base and their preferences to meet their demands. Also, the competitor analysis engagement focused on rating the competitors and understanding the five forces model in terms of the threat of potential entrants, the advent of new services, and suppliers, buyers, and the organization’s strengths and weaknesses. The competitor analysis helped a client in the banking sector to formulate a go-to-market strategy for organizational growth.

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Future of Banking Sector

With the gradual recovery of the fluctuating economy, the banking sector is dominated by Europe, which accounts for approximately 43% of the market share. Although the industry is expected to showcase promising growth, several factors hinder the growth of the banking space. These factors include:

Digitization: With the rising use of the internet and smartphones in emerging countries, leading organizations in the banking space are facing relentless pressures to shift from conventional banking models to convenience-based models. A recent study also indicates that a considerable number of people across the globe make their transactions online as compared to physically going to a branch. Also, the number of customers has increased due to the convenience of “anywhere banking.”

Weak global economy: With the recent uncertainty in the global economy and the issues arising due to Brexit, leading firms in the banking sector are facing relentless pressures to sustain themselves in the marketplace. Moreover, with the fluctuations in the global economy, the consumer’s spending habits are reducing, and consumers are looking to invest more and reduce their spending patterns.

Stringent government regulations: With the fluctuating regulations, leading banks are facing relentless pressures to enhance their service offerings across niche market segments. Moreover, leading organizations in the banking sector are looking for effective ways of managing reputational risks and meeting the capital, liquidity, and leverage ratio requirements.

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