Customer Services in Financial Organisations Market Assessment 2005


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Previewing a Market Assessment

Published Date :
October 2005find similar
Report Type :
Market Assessmentfind similar
Report Sector :
Financial Servicesfind similar
Price :
£ 575
Contents :
17 Chapters

Table of Contents

The table of contents below is for Customer Services in Financial Organisations 2005

Executive Summary

1. Introduction

Background

Definition

2. Strategic Overview

Market Dynamics And Segmentation

The Current Status Of The Market

Total Industry Value And Growth

The Largest Sector

The Market With The Highest Growth Rate

The Market With The Lowest Growth Rate

Factors Affecting The Market

Economic Trends

Table: Uk Economic Indicators (ratio, Index=100 And £m),-2005q1

Regulatory Change

Basic Bank Accounts

The Banking Code

The Markets In Financial Instruments Directive (mifid)

The Financial Services Authority

Treating Customers Fairly

Direct Marketing

Regulatory Regimes

Distance Marketing

Financial Services Skills Council

Credit-reference Agencies

Distribution

Table: Total Number Of Independent Financial Adviser Firms All Establishments (number And Index /2002=100),/2002-2005

Table: Employment In The Uk Insurance Sector (000 Staff),-2004

Table: Number Of Staff At Major British Banking Groups (000 Staff And Index=100),-2004

Table: Number Of Building-society Staff,-2004

Competitive Structure

Advertising

The Consumer

Preferences Regarding Efficiency And Friendliness Of Staff

"i Value Speed And Accuracy Of Service More Than Friendly Staff"

"i Value Friendly Staff More Than Speed And Accuracy Of Service"

"i Do Not Mind Staff Mistakes If They Make An Effort To Put Them Right"

Opinions On Customer-oriented Services

"i Do Not Think Financial-services Providers Care About Their Customers"

"i Think Customer Services Have Improved In The Past Years"

Opinions Regarding The Financial Services Authority

"i Believe That The Financial Services Authority Is Committed To Protecting The Consumer"

Opinions On Free Basic Services And Providers' Charges

"i Want My Financial-services Provider To Give Me Only A Basic Free Service"

"financial-services Providers Charge Too Much For The Level Of Service They Provide"

Market Forecasts

3. Banks

Background And Market Size

Market Shares

Table: Top Nine Banks By Loans And Advances To Customers (£m), And

Figure: Top Nine Banks By Loans And Advances To Customers (£m),

Market Trends

Account Aggregation

Electronic Banking And Customer Relationship Management

Consumer Trends

Consumer Research

"i Like To Discuss My Financial Affairs With Trained Staff Face To Face"

"for Organising My Financial Affairs I Rely On My Bank"

Marketing Activity

Advertising

Table: Main Media Advertising Expenditure By Banks On General Banking Services (£000), Year Ending June

Distribution

Branch Distribution

Table: Bank Branch Networks (number Of Branches), -2005

Number Of Automated Teller Machines

4. Building Societies

Background And Market Size

Market Shares

Table: Top Five Building Societies By Assets (£m), As At End

Figure: Top Five Building Societies By Assets (£m), As At End

Market Trends

Consumer Trends

Consumer Research

"for Organising My Financial Affairs I Rely On My Building Society"

Marketing Activity

Advertising

Table: Main Media Advertising Expenditure By Building Societies On General Banking Services (£000), Year Ending June

Distribution

Table: Number Of Building-society Branches,-2004

5. Insurance Companies

Background And Market Size

Mis-selling

Market Shares

Life Insurance

Table: The Ten Largest Life Insurers By Net Premium Income, Ordinary Life And General Annuity Business (£m And %), End

General Insurance

Table: The Ten Largest General Insurers By Premium Income Receivable: Total World Premium (£m And %),

Market Trends

Life-insurance Regulation

General-insurance Regulation

Consumer Trends

Life Insurance

General Insurance

Marketing Activity

Advertising

Life Insurance

Table: Main Media Advertising Expenditure On Life Insurance (£000), Year Ending June

General Insurance

Table: Main Media Advertising Expenditure On General Insurance (£000), Year Ending June

Distribution

6. Independent Financial Advisers

Background And Market Size

Market Shares

Table: The Top Ten Independent Financial Adviser Firms By Sales Staff And Turnover (number And £000),

Market Trends

Depolarisation

Consumer Trends

Consumer Research

"for Organising My Financial Affairs I Rely On My Independent Financial Adviser"

Marketing Activity

Advertising

Table: Main Media Advertising Expenditure On Independent Financial Advice (£000), Year Ending June

Distribution

7. Automated Teller Machines

Background And Market Size

Market Trends

Charges

Consumer Trends

Consumer Research

"i Prefer To Get My Money From A Cash Point Rather Than From A Bank Branch"

Marketing Activity

Advertising

Table: Main Media Advertising Expenditure On Cash Dispensers/automated Teller Machines (£000), Year Ending June

Distribution

Table: Number Of Cash Machines (number And Index=100),-2005

8. Call Centres

Background And Market Size

Table: Number Of Bank Accounts Accessible By Telephone (000 Accounts And Index=100),-2005

Market Trends

Staff Training

The Future Of The Call Centre

Consumer Trends

Consumer Research

"i Feel Confident That Call-centre Staff Can Handle My Financial Affairs"

Marketing Activity

Advertising

Distribution

9. Internet Sites

Background And Market Size

Table: Number Of Personal Customers Registered To Access Their Accounts By Computer (000 Customers And Index=100),-2005

Market Trends

Security Issues

Consumer Trends

Consumer Research

"i Feel Confident That Internet Sites Can Handle My Financial Affairs"

Marketing Activity

Advertising

Table: Main Media Advertising Expenditure On Online Financial Services (£000), Year Ending June

Distribution

10. An International Perspective

Consumer Services In The Eu

Changing Bank Accounts

Table: Ease Of Changing Bank Account Eu-15 (% Of Respondents),

Comparing Information From Banks About Bank-account Features And Charges

Trusting Use Of The Internet For Banking Transactions

Table: Trust In Use Of The Internet For Banking Transactions Eu-15 (% Of Respondents),

Trusting Use Of The Telephone For Banking Transactions

Table: Trust In Use Of The Telephone For Banking Transactions Eu-15 (% Of Respondents),

Ease Of Settling Disputes With Banks And Insurance Companies

Table: There Are Easy Ways To Settle Disputes With Banks And Insurance Companies Eu-15 (% Of Respondents),

Belief That Marketing Techniques Of Financial Institutions Are Aggressive

Clarity Of Information From Financial Institutions

Table: Information From Financial Institutions Is Clear And Understandable Eu-15 (% Of Respondents),

Belief That Consumer Rights Are Adequately Protected In Relation To Financial Services

Belief That It Is Harder To Sort Out Problems That Arise If Transaction Is By Internet

Expectation Of Advice From Financial Institutions

Table: Expectation That Financial Institutions Should Give Advice Eu-15 (% Of Respondents),

European Regulation

Wealth Management

11. Pest Analysis

Political Factors

Economic Factors

Social Factors

Technological Factors

12. Consumer Dynamics

Overview

Summary Of Research Findings

Table: Overview Of Attitudes Towards Customer Services Provided By Financial Institutions (number And % Of Respondents Agreeing),

Implications

Speed And Accuracy Of Service Versus Friendliness Of Staff

"i Value Speed And Accuracy Of Service More Than Friendly Staff"

"i Value Friendly Staff More Than Speed And Accuracy Of Service"

Table: Speed And Accuracy Of Service Versus Friendliness Of Staff (% Of Respondents),

Tolerance Of Staff Mistakes And Preference For Getting Money From A Cash Point

"i Do Not Mind Staff Mistakes If They Make An Effort To Put Them Right"

"i Prefer To Get My Money From A Cash Point Than From A Bank Branch"

Table: Tolerance Of Staff Mistakes And Preference For Getting Money From A Cash Point (% Of Respondents),

Attitudes Towards Face-to-face Contact And Call Centres

"i Like To Discuss My Financial Affairs With Trained Staff Face To Face"

"i Feel Confident That Call-centre Staff Can Handle My Financial Affairs"

Table: Attitudes Towards Face-to-face Contact And Call Centres (% Of Respondents),

Confidence In Internet Sites And Reliance On Banks

"i Feel Confident That Internet Sites Can Handle My Financial Affairs"

"for Organising My Financial Affairs I Rely On My Bank"

Table: Confidence In Internet Sites And Reliance On Banks (% Of Respondents),

Reliance On Building Societies And On Independent Financial Advisers

"for Organising My Financial Affairs I Rely On My Building Society"

"for Organising My Financial Affairs I Rely On My Independent Financial Adviser"

Table: Reliance On Building Societies And On Independent Financial Advisers (% Of Respondents),

Reliance On Other Financial Institutions And Belief That Financial-services Providers Do Not Care About Their Customers

"for Organising My Financial Affairs I Rely On Another Financial Institution"

"i Do Not Think Financial-services Providers Care About Their Customers"

Table: Reliance On Other Financial Institutions And Belief That Financial-services Providers Do Not Care About Their Customers (% Of Respondents),

Belief That Customer Services Have Improved And That The Financial Services Authority Is Committed To Protecting Consumers

"i Think That Customer Services Have Improved In The Past Years"

"i Believe That The Financial Services Authority Is Committed To Protecting The Consumer"

Table: Belief That Customer Services Have Improved And That The Financial Services Authority Is Committed To Protecting Consumers (% Of Respondents),

Demand For Basic Free Services And Providers' Anticipation Of Financial Needs

"i Want My Financial-services Provider To Give Me Only A Basic Free Service"

"i Would Like My Financial-services Provider To Anticipate My Financial Needs"

Table: Demand For Basic Free Services And Providers' Anticipation Of Financial Needs (% Of Respondents),

Demand For Fee-based Personalised Services And Belief That Providers Charge Too Much

"i Would Like My Financial-services Provider To Offer Me A Choice Of Personalised Services For A Fee"

"financial-services Providers Charge Too Much For The Level Of Service They Provide"

Table: Demand For Fee-based Personalised Services And Belief That Providers Charge Too Much (% Of Respondents),

No Opinion Or Disagreement With All Statements In The Survey

"don't Know"

"none Of These"

Table: Consumers Expressing No Opinion Or Disagreeing With All Statements In The Survey (% Of Respondents),

13. Company Profiles

Abbey National Plc

Corporate Strategy

Strengths And Weaknesses

New Product And Brand Development

Innovations

Advertising

Distribution

Profitability

Table: Financial Results For Abbey National Plc (£000, % And £), Years Endingst December-2004

Future Company Developments

Aviva Plc (norwich Union)

Corporate Strategy

Strengths And Weaknesses

Product And Brand Development

Innovations

Advertising

Distribution

Profitability

Table: Financial Results For Aviva Plc (£000, % And £), Years Endingst December-2004

Future Company Developments

Barclays Bank Plc

Corporate Strategy

Strengths And Weaknesses

New Product And Brand Development

Innovations

Advertising

Distribution

Profitability

Table: Financial Results For Barclays Bank Plc (£000, % And £), Years Endingst December-2004

Future Company Developments

Egg Plc

Corporate Strategy

Strengths And Weaknesses

New Product And Brand Development

Innovations

Advertising

Distribution

Profitability

Table: Financial Results For Egg Plc (£000, % And £), Years Endingst December-2004

Future Company Developments

Hbos Plc (intelligent Finance)

Corporate Strategy

Strengths And Weaknesses

New Product Development

Brand Development

Innovations

Advertising

Distribution

Profitability

Table: Financial Results For Hbos Plc (£000, % And £), Years Endingst December-2004

Future Company Developments

Hsbc (first Direct)

Corporate Strategy

Strengths And Weaknesses

New Product And Brand Development

Innovations

Advertising

Distribution

Profitability

Table: Financial Results For Hsbc Holdings Plc ($000, % And $), Years Endingst December-2004

Future Company Developments

Nationwide

Corporate Strategy

Strengths And Weaknesses

New Product And Brand Development

Innovations

New Research

Advertising

Distribution

Profitability

Table: Financial Results For Nationwide Building Society (£000 And %), Years Endingst April-2005

Future Company Developments

The Royal Bank Of Scotland Plc

Corporate Strategy

Strengths And Weaknesses

New Product And Brand Development

Distribution

Advertising

Profitability

Table: Financial Results For The Royal Bank Of Scotland Plc (£000, % And £), Years Endingst December-2004

Future Company Developments

14. The Future

Forecasts

Bank Branches

Table: Forecast Number Of Bank Branches Of The Mbbg In Great Britain (number And Index=100),-2009

Figure: Forecast Number Of Bank Branches Of The Mbbg In Great Britain,-2009

Building-society Branches

Table: Forecast Uk Building-society Branch Networks (number Of Branches And Index=100),-2009

Figure: Forecast Uk Building-society Branch Networks (number Of Branches),-2009

Future Trends

New Developments

Outsourcing

A New Model Of Customer Service

Consumer Trends

"i Would Like My Financial-services Provider To Anticipate My Financial Needs"

"i Would Like My Financial-services Provider To Offer Me A Choice Of Personalised Services For A Fee"

The Economy To

Table: Forecast Uk Economic Indicators (ratio, Index=100, % And £m),-2009

Supplier Issues

Table: Forecast Total Number Of Independent Financial Adviser Firms All Establishments (number And Index=100),-2009

Market Dynamics

Political Factors

Economic Factors

Social Factors

Technological Factors

15. Consumer Confidence

Methodology

The Willingness To Borrow

Table A: The Average Amount Consumers Are Willing To Borrow In Order To Purchase Expensive Items At Current And Constant November Prices (£ And £bn), November, February, May And August

The Desire To Borrow Is Waning

Table B: The Number Of Adults Willing To Borrow In Order To Purchase Expensive Items (000 And %), November, February, May And August

The Willingness To Spend From Savings

Table C: The Average Amount Consumers Are Willing To Spend From Savings In Order To Purchase Expensive Items At Current And Constant November Prices (£ And £bn), November, February, May And August

Confidence Is Fragile

Table D: The Average Amounts Adults Are Confident Spending To Purchase Expensive Items (£ And %), November, February, May And August

The Extremes Contract

16. Further Sources

Associations

General Sources

Government Publications

Other Sources

Bonnier Information Sources

Other Reports