Home » Other » People Pay Fee-based Banking Insight Report Industry Growth, Size, Forecast

Synopsis

The report provides insights into the fee-based income of banks:
It offers a global snapshot of current market dynamics of fee- and commission-based income for banks, and the future outlook.
It explores the question of whether customers are paying for current/checking accounts.
It provides insights into the impact of regulations on banks’ ability to generate fee income.
It captures trends into banks’ revenue structures in key markets.
It explores the importance of overdrafts and transaction banking as drivers of banking revenue.

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Executive summary

The reliance of banks on fees and commissions increased following the latest financial crisis in both developed and emerging economies. Due to a weak demand for borrowing and low interest rates, banks have increased their focus on non-interest revenue. The proportion of fees and commission income in the total banking revenue however, varies according to country. The rising or decreasing proportion of fee income reflects the difference in consumers’ preferences in different countries, the inherited pricing structure imposed by the banks and the country’s economic cycle.

Although, consumers have strong preference for free basic banking services, evidence from different consumer surveys suggest that consumers are willing to pay for products that add value and convenience to basic banking services. Customers are willing to pay for interest-free emergency funds, automatic direct debits, increased grace periods on due payments, investment services and premium reward-associated accounts and cards.

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Traditionally banks have generated their fees and commissions from overdrafts, unarranged overdraft fees, annual fees on accounts and cards, automatic teller machine (ATM) fees, interchange fees, loan processing, cross-border transactions, trade and capital market services and wealth and trust management services.

However, changing regulatory dynamics and the competitive landscape have forced banks to realign their product portfolio and pricing strategies to generate more fee-based income over the next five years. Banks have begun to increasingly focus on launching new products and services that provide alternative sources of fee income. This includes mobile payment solutions that allow convenient person-to-person (P2P) payments, international remittances and expedited payment services.

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Scope

This report covers trends in bank revenue in key markets since the subprime crisis.
It covers country- and bank-level information on banks’ interest and non-interest income.
It captures trends, challenges and drivers behind the dynamics of fee-based income for banks.
It covers key components of fee-based revenue, including transaction banking, overdrafts, cards and payments and fee income generated from current/checking accounts.