LONDON, Dec. 15, 2016 /PRNewswire/ --
Malaysia is a mature market, albeit still developing in many aspects. Our research shows that the country's consumers are very similar to those in developed nations in terms of embracing the convenience brought to banking through digital platforms - and banks in Malaysia have been quick to act on this potential. With a healthy economy and a bright outlook over the next few years, the market presents significant opportunities for providers across the retail banking spectrum.
- As in other markets in the Asia Pacific region, online has become a preferred channel for routine activities in Malaysia. However, mobile should be rapidly making inroads as mobile penetration in most developing markets has reached the masses.
- Among Malaysian consumers as a whole, reputation and branch location are the two most influential drivers of choice, and are particularly important to younger and post-family consumers.
- Providers in Malaysia put a lot more emphasis on their savings products than is typical. Indeed, these accounts are largely indistinguishable from the current accounts seen in other markets.
- Trust, Convenience, and Responsibility are the most important values to consumers. They like providers that act with integrity, and prefer to have the freedom to make their own decisions. These attitudes were particularly apparent among older consumers, implying they set high standards for service providers.
Verdict Financial's "Retail Banking Country Snapshot: Malaysia 2016" reviews the retail banking sector in Malaysia, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our global Retail Banking Insight Survey.
The report offers insight into:
- How consumers in Malaysia take out and use their financial products, and how this has changed in recent years.
- Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
- The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Reasons To Buy
- Futureproof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Malaysia's retail banking sector.
- Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
- Learn about the impact new entrants and distribution channels will have on the market.
Download the full report: https://www.reportbuyer.com/product/4442591/
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Research Advisor at Reportbuyer.com
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