UK Savings 2017: Forecasts & Future Opportunities

UK Savings 2017: Forecasts & Future Opportunities

  • March 2018 •
  • 44 pages •
  • Report ID: 3713801 •
  • Format: PDF
UK Savings 2017: Forecasts & Future Opportunities

Summary
"UK Savings 2017: Forecasts & Future Opportunities", provides a comprehensive analysis of the factors driving the UK savings market. This report is based on interviews with industry figures and secondary research.

The UK retail savings market has been characterized by low levels of competition and low returns for several years, with the low base rate and access to cheap funding from state-backed schemes leading to downside pressure on interest rates. However, the prospect of rising rates and the end of subsidized funding will lead to a more competitive environment, with banks having to increase their reliance upon deposits.

The report offers insight into -
- The macroeconomic factors affecting the market for deposits.
- Consumers’ attitudes and behavior towards saving and savings providers.
- The impact of the latest savings-related products and innovations.

Scope
- The current low growth in real wages is expected to continue for several years, which will limit consumers’ ability to save. However, rising rates will create an added incentive to save, and pension liberalization will lead to greater inflows of funds into fixed-rate accounts.
- Savers’ reasons for choosing their provider differ significantly across the market. Nationwide is more likely to be chosen on the basis of its rates and reputation, while savers with Barclays, HSBC, Lloyds Bank, and NatWest opt for those banks on the back of existing relationships.
- A growing number of fintech providers are targeting younger consumers with services that help them save without making a conscious effort by, for example, moving funds into a savings account whenever a purchase is transacted.

Reasons to buy
- Learn about the factors that will drive growth in deposits over the next few years.
- Understand what consumer are saving for, and why they chose their savings provider.
- Discover more about the latest savings-related products, how they will improve consumer outcomes, and their long-term prospects.
Loading...

We are very sorry, but an error occurred.
Please contact support@reportbuyer.com if the problem remains.