Global Market Report - Retail Banking Country Snapshot: UAE: Radiant Insights, Inc

Summary

The UAE is overbanked with around 49 players, making it a fragmented and highly competitive market. Penetration is high and consumers are well informed and sophisticated, but the large number of expats in the UAE (over 90% of the population) creates unique requirements. Reputation is key, and customers favor established providers and traditional structures. Although online channels are gaining ground, awareness of fintech and peer to peer (P2P) providers remains low, and partnerships with existing banks are the best way of breaking into the market.

Key Findings

• State-owned banks dominate the retail sector, with Emirates NBD accounting for almost a quarter of accounts, while international banks have made limited headway. Ethical values, reputation, and convenience are important, but 64% of customers prefer a local brand.
• Recommendations and convenience of branch location are the top drivers of choice of savings provider, while rates are also key due to the competitive nature of the sector. Property purchase is the most popular reason for saving, and branch enquiries are still preferred over online applications.

• The mortgage sector is highly competitive and banks struggle to achieve significant market share. Incentives are important to attract customers, but ease of use and online presence are also vital. Banks like RAKBANK are benefiting from investment in digital solutions.

To Access Browse Full Research Report @:  http://www.radiantinsights.com/research/retail-banking-country-snapshot-uae-2016

Synopsis

Verdict Financial's "Retail Banking Country Snapshot: UAE 2016" reviews the retail banking sector in the UAE, 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 the UAE 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.

To Access Request A Sample Copy Of This Report at:  http://www.radiantinsights.com/research/retail-banking-country-snapshot-uae-2016/request-sample

Reasons To Buy

• Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting the UAE'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.

See More Reports of This Category by Radiant Insights: http://www.radiantinsights.com/catalog/financial-services

About Radiant Insights:
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
For more information, Visit: http://www.radiantinsights.com