Aarkstore - Insight Report: Will People Pay for Fee-based Banking

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Insight Report Will People Pay for Fee-based
Banking?
Category - Retail
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Summary
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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Synopsis
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 countrys
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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Key Highlights
Despite a decline in overdraft revenue in major
economies such as the US and the UK since 2009,
overdraft continues to remain a major source of
fee-based revenue for banks. Banks have adopted
several strategies to maintain income from
overdrafts. This includes increasing fees on
using overdraft facilities and increased focus on
marketing overdrafts as part of current account
offering. Consumers have become increasingly
value-driven and are looking for benefits beyond
standard products and services. This has led to
customers being less willing to pay for services
which they perceive as basic. However, consumers
have demonstrated a willingness to pay for
value-add services which has provided banks with
new opportunities to earn additional fees and
commissions from innovative products and
services. Diversification in terms of products
and services is expected, as banks increase their
focus on non-interest revenue to cushion pressure
on interest revenue and subsequently their total
income. The increased use of large scale data
analytics is likely to help banks identify
emerging consumer needs and new product
opportunities to serve the market demand.
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Reasons To Buy

• Gain insights into potential products and
  services that generate fee-based income.
• Develop an understanding of whether a traditional
  approach can still generate sustainable fee
  income.
• Gain insights into the current and future sector
  dynamics of fee-based income.
• Understand emerging trends in banking regulations.

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Table Of Content
1 Executive Summary 2 Bank Revenues since the
Financial Crisis 3 Interest Income vs.
Non-interest Income 4 Do Consumers Pay for
Current Accounts? 5 Is Overdraft Still the Main
Profitability Driver for Banks? 6 Transaction
Income as a Driver of the Banking Revenue 7 The
Impact of Regulation on Fee-based Banking 7.1
Regulation in Regards to Overdrafts and Other
Banking Products 7.2 Interchange and Merchant
Fees 7.3 Card issuance 8 Appendix 8.1
Methodology 8.2 Contact Timetric 8.3 About
Timetric 8.4 Timetrics Services 8.5
Disclaimer List Of Tables Table 1 Developed
Economies Commission and Fees on Advisory
Services, 2014 Table 2 Developed Economies
Premium Cards, 2014 Table 3 Emerging Economies
Credit Cards, 2014 Table 4 Emerging Economies
Banks Offering Gold Coins and Bars, 2014
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 Insight Report Will People Pay for Fee-based
Banking? Published Dec 2014 44 Pages 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.
.
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