US Banking Industry[spacer height=”20px”]
The US banking industry is undergoing radical transformations due to evolving business models, security challenges, mounting regulations, and disruptive technologies. Also, with the rising competition in the US banking industry, the traditional branch-based model is no longer helping banking companies to sustain a leading edge in the market. This necessitates banking companies to rethink the way they do business. Also, undertaking a market intelligence study is becoming imperative for banking companies to understand market transformations and adapt to the fast-evolving marketplace.
Wondering what are the key trends, opportunities, and challenges that may affect business operations and strategies of companies in the US banking industry? Our custom market intelligence solution can help you gather comprehensive insights into the US banking industry. Request a FREE proposal!
Business Challenge[spacer height=”20px”]
The client is a banking company based out of Germany.
Our client, a leading banking company, wanted to set up a new office in the United States. Before expanding to the United States, they wanted to gather comprehensive insights into the US banking industry and understand the competitive landscape. In addition, they wanted to understand the business challenges in the US banking industry and identify lucrative market opportunities. They approached the experts at Infiniti Research to leverage their expertise in offering custom market intelligence solution.
Other challenges faced by the company were:
US banking industry challenge #1: Optimizing the mobile experience
With the proliferation of smartphones and other associated devices, customers in the US inclined more towards banking online. This necessitated US banking companies to have a mobile-friendly banking experience to retain current customers and acquire new ones. The client, therefore, wanted to identify the business models gaining popularity in the US banking industry.
US banking industry challenge #2: Security and authentication
With security breaches and identity threats rising in the US banking industry, undertaking safety and security measures were becoming paramount for banking companies to enhance consumer trust. Therefore, before expanding to the US, the client wanted to understand the strategic safety plans undertaken by the top companies in the US banking industry to ensure the safety of their customer’s financial data.
US banking industry challenge #3: Rise of technology disruption or FinTech
As FinTech companies displaced some of the profitable financial services of traditional banks such as financial advising, loan, and money transfer, they posed major challenges for companies in the US banking sector. The client, therefore, wanted to understand the alternatives undertaken by the top companies in the US banking industry to tackle this challenge.
Our market intelligence solution can help you tackle the above-mentioned challenges and gain a leading edge in today’s competitive marketplace.