Global Financial Services Industry

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Mar 07, 2012, 05:58 ET

NEW YORK, March 7, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Global Financial Services Industry

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The global outlook series on Financial Services provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report critically examines major market trends and issues, identifies major segments, highlights the indispensable need for IT in the financial services industry, and investigates the implications of globalization. The reader also stands to gain a prelude to topics such as ATM and Debit Card, Credit Cards, Online Credit Card Payments, Master Cards, and Visa Cards, among others. Regional markets briefly abstracted and covered include US, Canada, Germany, Italy, Russia, UK, Japan, Australia, China, India, Taiwan) Brazil and Chile among several others. The report offers a compilation of recent product launches, mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 289 companies worldwide.

1. OVERVIEW 1Financial Services: A Backdrop! 1Table 1: Global Financial Services Market (2011): PercentageBreakdown of Assets Under Management by Type - ConventionalInvestment Management Assets, Non-Conventional InvestmentManagement Assets and Private Wealth 1

Table 2: Global Financial Services Market (2011): Percentage

Breakdown of Conventional Investment Management Assets by

Region -US, Europe, Japan and Others 2

Importance of Financial Services to the Economy 2

Industry Landscape: Lot of Churning Underway 2

Competition Peps Up Investor Choice 2

IT Spending in Financial Services Markets: A Quest for

Efficiency and Value 3

Banking Industry: Endeavoring to Re-Build Customer Trust 3

International Banks Seek to Capture Emerging Markets 4

Technology, Consolidation & Deregulation Characterize the

Banking Industry 4

Insurance Sector Rebounds from Recession 4

Recession Triggers Demand for Low-Risk Asset Categories 5

Challenges Confronting the Financial Services Sector 5

Financial Services Industry- Outlook 6

Table 3: World Recent Past, Current and Future Analysis for

Financial Services by Geographic Region - US, Japan, Europe

and Rest of World Markets Independently Analyzed with Assets

Under Management (AUM) in US$ Billion for Years 2010 through

2015 7

Table 4: World 5-Year Perspective for Financial Services byGeographic Region - Percentage Breakdown of Assets UnderManagement (AUM) for United States, Japan, Europe and Rest ofWorld Markets for the Years 2011 & 2015 8

2. MARKET TRENDS & ISSUES 9

Financial Services Industry Goes Online 9

Internet Banking: An Essential Banking Service 9

Table 5: World Market for Internet Banking (2011) -

Percentage Share Breakdown of Number of Customers by Region-

Asia-Pacific, Europe, US, Latin America, Japan and Rest of

World 9

Personalization and Communication Add Value to Online Banking 10

Heading Towards a Checkless Banking Society 10

Debit Cards Erode Credit Cards Revenues 10

Table 6: US Debit Card Market (2011): Percentage Breakdown of

Cards in Use by Product Segment- Signature (Offline) and PIN

(Online) 10

EMV Migration: Still a Long Way to Go 11

Bancassurance - A Perfect Distribution Channel in Asian Markets 11

Growing Demand for Independent Financial Planners 11

Industry Restructuring Trends in the Past 11

European Banking Sector 11

Banking Sector in Asia-Pacific Region 12

Retirement Financial Planning Sector Looks Promising 12

Attractive Reward Programs to Gain Consumer Interest in the

Banking Sector 13

Mergers & Acquisitions: Banking on Size 13

Consolidation Spree: Beyond Growing Big 13

Realities of Business in 'Wired' World: Importance of IT for

the Financial Services Industry 14

Financial Industry Turmoil: Are Informed Decisions a Way Out? 14

Growing Importance of Regulatory Compliance 14

Skyrocketing Value Migration: 'New' Value Chains Revolutionize

Operations 15

Fruits of Globalization 15

Transnational Foray Spearheads Globalization of Financial

Services 15

Emerging Markets Get Overseas' Financial Muscle & Efficiencies 15

Outsourcing Financial Services: Boosting the Overall

Industry's Profits 16

Outsourcing Contracts Continue to Shrink on Account of

Recession 16

Risks and Challenges 17

Legal Accounting and Regulatory Reforms Dampen Industry Morale 17

Soaring Financial Crimes Jeopardize Industry's Creditworthiness 17

International Financial Regulation and Stability 17

Reasons for Domestic Regulation of Banks 18

Competitive Pressures on Capital 18

The Design of International Capital Requirements 19

3. A SEGMENTAL PERSPECTIVE 20Banking 20A Rudimentary Overview 20Table 7: Top 15 Banks in the World in Terms of Assets(2011): Value in US $ Billions for BNP Paribas, HSBCHoldings, Deutsche Bank, Mitsubishi UFJ, Barclays PLC, andOthers 21Retail Banking: The Transformation 22Multi-Channel Banking - The New Mantra for Banking Sector 22Mobile Internet & Advanced Technologies Propel Mobile BankingMarket 22Table 8: Global Mobile Banking Market (2011): PercentageShare Breakdown of Number of Users by Region- US, Canada,Europe, Asia-Pacific, and Rest of World 23

Table 9: Percentage of 3G and Smartphone Customers Using

Mobile Banking Services (2009): Breakdown for Web Browser,

Client Application and SMS-Based Service 23

Mobile Banking - Serving the Un-Banked 23

Table 10: Mobile Phone Penetration in Select Countries 24

Online Banking to Witness Rise in Online Security Threats 25

Capital Markets 25

Private Equity 25

Table 11: Worldwide Private Equity Market (2011): Percentage

Breakdown of Investment by Region - Europe, US and Rest of

World 26

Insurance 26

Market Perspective 26

Table 12: Global 5-Year Perspective for Insurance Industry

by Geographic Region - Percentage Share Breakdown of Annual

Premium for US, Canada, Europe, Asia-Pacific (including

Japan), Latin America, and Rest of World Markets for Years

2011 & 2015 27

Table 13: Global Insurance Market (2011) - Percentage ShareBreakdown of Value of Insurance Premiums by Segment - LifeInsurance & Non-Life Insurance 27

Table 14: Insurance Penetration in the Global Market

(2011): Breakdown of Market Penetration Rates (in %) by

Select Countries 28

Table 15: Insurance Density in the Global Market (2011):Breakdown of Premiums Per Capita (In US$) by SelectCountries 28

Table 16: Top-10 Insurance Companies in the Global Market

(2010): Breakdown of Revenues in US$ Billion by Leading

Players 29

Renewed 'Life' in the Market 29

Table 17: Global Market for Life Insurance (2011) -

Percentage Share Breakdown of Annual Premiums by

Region/Country - USA, Canada, Japan, Europe, Asia-Pacific

(excluding Japan), Latin America, and Rest of World Markets 30

Non-Life Insurance- A Synopsis 30

Rising Healthcare Costs Prop Up Health Insurance Volumes 31

Table 18: US Annual Healthcare Expenditure (In US$ Billion)

for Years 2007 Through 2015 31

Reinvestments Elevate Profit Expectations 31

The Changing F(P)ace of Insurance Services 31

Insurance Industry and Major Concerns 32

Mutual Funds 32

Outlook 32

Table 19: World Market for Mutual Funds (2011 & 2015):

Percentage Share Breakdown of Assets Under Management (AUM)

Value by Geographic Region - US, Canada, Europe,

Asia-Pacific, Latin America and Rest of World 33

Key Statistics 34

Table 20: Global Mobile Banking Scenario (2010 & 2011):

Breakdown of Usage by Country- US, China, Brazil and Kenya 34

Table 21: Global Market for Private Banking (2011):Percentage Breakdown of Share by Region- Switzerland, UK andIreland, Caribbean Islands and Panama, Singapore, US andOthers 34

Table 22: Leading Thrift Banks Worldwide (2008): Percentage

Breakdown of Market Share by Banks - Citigroup, HSBC, HBOS

and Others 34

Table 23: Global Leading Consumer Finance Firms (2008):Percentage Breakdown of Market Share Based on RevenuesGenerated for Citigroup Inc., HSBC Holdings PLC, Bank ofAmerica Corp, J.P.Morgan Chase and Co and Others 35

4. ATM AND DEBIT CARD INDUSTRY 36

Overview 36

Transition of ATMs into Multi Functional Machines 37

Emerging Markets to Lead the Way 38

Table 24: Global Automated Teller Machines Market (2011):

Percentage Share Breakdown of Installed Base by Geographic

Region - US, Canada, Japan, Europe, Asia-Pacific (excluding

Japan), Middle East & Africa, and Latin America 38

Impact of Recession of Payment Cards Market 38

Card Associations Intensify Campaign for Prepaid Cards 39

Non-Banking Agencies to Counter the Dominance of Associations 39

5. CREDIT CARDS INDUSTRY 40Overview 40Industry Experiences Rough Weather During the Recent Recession 40Accelerated Growth in Credit Card Markets of Emerging Nations 40Table 25: Global Credit Card Market (2010 & 2011)- Breakdownof Annual Number of Cards in Use by Region-US, Canada, Japan,Europe, Asia-Pacific, Latin America and Rest of World 41New Technologies for Protection against Fraud 41New Credit Card Trends Post Recession 42Credit Cards Make a Come Back, Competition Heats Up 42Customers Confronted with Higher Credit Rates Even asCompetition Increases 42Companies Resort to Richer but Complicated Rewards 42Credit Card Issuing - Future Trends 42Multifunction Cards 42Mobile Payments 43Contactless Card 43

6. MASTERCARD & VISA 44

Long-term Prospects better for Visa and MasterCard 44

Table 26: Global Market Share of Leading Credit Card

Companies by Purchase Volume (2010 44

7. MERGERS AND ACQUISITIONS 45

8. STRATEGIC CORPORATE DEVELOPMENTS 73

9. PRODUCT/SERVICE LAUNCHES 84A REGIONAL MARKET PERSPECTIVE 92

1. THE UNITED STATES 92

Banking 92

How the Financial Crunch Stalled the Banking Industry 92

Table 27: US Banking Industry: Breakdown of Revenues in US$

Billion for 2010 through 2015 93

Recent Banking Trends in the US 93

Recession Fuels Demand for Mobile Banking Services 94

Gen Y - A Key Demographic Segment 95

The 'Retail' Makeover: Enhances Banking Experience 95

Insurance Products 95

Current Market Scenario 95

Table 28: US Insurance Market (2011) - Percentage Share

Breakdown of Value of Insurance Premiums by Segment - Life

Insurance & Non-Life Insurance 96

Life and Health Insurance 96

Life Insurance 96

Health Insurance 97

Market for Payment Cards 97

Credit Card Spending in the US Increases Post Recession 97

Table 29: Usage Pattern of Credit Cards in the US (2011):

Percentage Share Breakdown by the Reason Cited 97

Table 30: Leading Credit Card Companies in the US (2010):Percentage Breakdown of Market Share by - Visa, MasterCard,American Express and Discover in terms of Cards inCirculation 98The CARD Act 98A Mixed Impact of the CARD Act on the US Credit Card Market 98Standardization of EMV Technology in the US - Still a Longway to Go 99Market Booming for US Debit Card Sector 99Debit Cards for Healthcare Benefits Plan Administration 99Key Statistics 100Table 31: Leading Financial Services in the US (2011):Percentage Breakdown of Revenues by Sector - Bank, Insurance,Diversified Financials, and Securities 100

Table 32: Asset Allocation of Pension Funds in the US (2011):

Percentage Breakdown by Type -Equities, Bonds and Others 100

Top 10 US Banks Ranked by Number of ATMs Owned in 2009 101

Top 5 US Credit Unions Ranked on the Basis of Value of Assets

Held in 2009 101

Table 33: Leading Credit Issuance Firms in US (2009):

Percentage Breakdown of Market Share by Premiums for Assurant

Inc., American international Group, Allianz SE, QBE Insurance

Group Ltd, Old Republic Intl and Others 101

Table 34: Leading Issuers of Financial Guarantees in the US(2009): Percentage Breakdown of Market Share by Premiums forFirms - MBIA Inc, Ambac Financial Group Inc, FinancialGuaranty Insurance Co., Syncora Holdings Ltd, Radian GroupInc., and Others 102

Table 35: Leading Issuers of Fire and Allied Line Insurance

in the US (2009): Percentage Breakdown of Market Share by

Firms - American International Group, Assurant Insurance

Group, FM Global Group, Bank of America Group, Travelers

Group, Citizens Property Insurance Corp, Wells Fargo

Insurance Group, Allianz of America, Great American P and C

Insurance Group and Others 102

Table 36: Top Banks in the US - Ranked by Assets held as atthe Second Quarter of 2010 (in US$ Billions) 103

Table 37: Leading US Book Runners (2010): Percentage

Breakdown of Market Share for BAML Capital Partners, J.P.

Morgan, Citi , Deutsche Bank, Wells Fargo and Co., BNP

Paribas, Credit Suisse , Barclays Bank PLC, Goldman Sachs,

RBS and Co and Others 103

Table 38: Leading Surety Insurance Firms in the US (2009):Percentage Breakdown of Market Share for AmericanInternational Group, Lloyd's, Zurich Financial Services N.A.Group, Nationwide Group, ACE INA Group, Markel CorporationGroup, W.R.Berkeley Group, CAN Insurance Companies and Others 104

Table 39: US Leading Credit Card Issuers (2010) Based on

Purchase Volumes in Billions of US$ 104

2. CANADA 105Canadian Securities Industry 105Alternative Trading Systems (ATS) 105Access to Capital for Businesses and Governments 105Market Trends 105The Increasing Importance of the Canadian Securities Industry 106Key Statistics 106Table 40: Asset Allocation of Pension Funds in Canada (2011):Percentage Breakdown by Type - Equities, Bonds and Others 106

Table 41: Canadian Insurance Market (2011) - Percentage Share

Breakdown of Value of Insurance Premiums by Segment - Life

Insurance & Non-Life Insurance 106

Table 42: Leading Life Insurance Firms in Canada (2008):Percentage Breakdown of Market Share by Great-West LifeAssurance Co., Manufacturers Life Insurance Co. , Sun LifeAssurance Company of Canada, Canada Life Financial Corp andOthers 107

3. EUROPE 108

Organization of European Asset Management Industry 108

Table 43: European Recent Past, Current and Future Analysis

for Financial Services by Geographic Region - France,

Germany, Italy, UK and Rest of Europe Markets Independently

Analyzed with Assets Under Management (AUM) in US$ Billion

for Years 2010 through 2015 109

Table 44: European 5-Year Perspective for Financial Servicesby Geographic Region - Percentage Breakdown of Assets UnderManagement (AUM) for France, Germany, Italy, UK and Rest ofEurope Markets for the Years 2011 & 2015 110FSAP: Leapfrogging the Fragmented Euro Markets 110Wholesale Financial Services in EU27 110Insurance Companies and Pension Funds- Largest InstitutionalInvestors 111Table 45: European 5-Year Perspective for Insurance Industryby Geographic Region - Percentage Share Breakdown of AnnualPremiums for France, Germany, Italy, UK, Spain, Russia, Restof Europe Markets for Years 2011 & 2015 111Life Insurance 112Non-Life Insurance 112Table 46: European Property & Casualty and AccidentInsurance Market (2011): Breakdown of Premiums by Type ofProduct 112Banking 112Mobile Banking on a Growth Trajectory 112Table 47: Penetration (%) of Internet Banking & MobileBanking in Select European Countries (2010) 113Europe Leads in Bancassurance 113European Retail Financial Services: Bracing up for ImminentRegulatory and Compliance Requirements 113Key Statistics 114Table 48: European Banking Industry: Breakdown of Revenues inUS$ Billion for2010 through 2015 114

Table 49: Leading Insurance Firms in Greece (2008):

Percentage Breakdown of Market Share by Premiums for Ethniki

AAEGA, Interamerican EEAZ, Agrotiki Insurance and Others 114

Table 50: Leading Insurance Firms in Hungary (2008):Percentage Breakdown of Market Share by Premiums for Allianz,Generali Providencia, Groupama Garancia and Others 115

3a. GERMANY 116

Market Primer on Banking 116

Insurance: Market Overview 116

Table 51: German Insurance Market (2011) - Percentage Share

Breakdown of Value of Insurance Premiums by Segment - Life

Insurance & Non-Life Insurance 116

Insurance Penetration in German Households 116

3b. ITALY 117Highly Fragmented Banking Market 117Insurance: Looking up Again 117Table 52: Italian Insurance Market (2011) - Percentage ShareBreakdown of Value of Insurance Premiums by Segment - LifeInsurance & Non-Life Insurance 117Banks in the Italian Insurance Business 118

3c. RUSSIA 119

Overview 119

Table 53: Leading Insurance Firms in Russia (2008):

Percentage Breakdown of Market Share by Premiums for ALICO,

Rosgostrakh Life, Geopolis and Others 119

3d. SPAIN 120Brief Overview Banking Industry 120Insurance Industry - A Snapshot 120

3e. THE UNITED KINGDOM 121

Market Overview 121

Table 54: Financial Services Industry in the UK (2011):

Percentage Breakdown of Funds Under Management by Type -

Institutional (Insurance, Corporate Pension Fund and Others),

Retail, Alternative Funds (Hedge Funds, Property Funds, and

Private Equity Funds) and Private Client Funds 121

Pioneering Privatization 122

Retail Financial Sector Primed to Gain from Entry to EMU 122

Retail Regulation Reforms 122

Sectoral Perspective 122

UK - The Largest Insurance Market in Europe 122

Table 55: UK Insurance Market (2011) - Percentage Share

Breakdown of Value of Insurance Premiums by Segment - Life

Insurance & Non-Life Insurance 123

Bastion of Private Pension Funds 123

Table 56: Asset Allocation of Pension Funds in the UK

(2011): Percentage Breakdown by Type - Equities, Bonds and

Others 124

Banking: Strongly Rooted 124

Consolidation to Spark Up the UK Retail Banking Sector 124

Fund/Asset Management: Innovative Management 'Styles' Sectoral

Funds 124

Securities: A Highly Developed Market 124

4. ASIA-PACIFIC 125The Emerging Market 125Bancassurance Growing Swiftly 125Credit Cards 125Table 57: Online Payment Preferences of Consumers in AsiaPacific as a Percentage of Population 126Key Statistics 126Table 58: Asia-Pacific 5-Year Perspective for InsuranceIndustry by Geographic Region - Percentage Share Breakdown ofAnnual Premiums for Japan, China, India, Australia, HongKong, South Korea, and Rest of Asia-Pacific Markets for Years2011 & 2015 126

Table 59: Leading Insurance Firms in Indonesia (2008):

Percentage Breakdown of Market Share by Premiums for PT

Asuransi Jasa Indonesia, PT Asuransi Astra Buana and Others 127

Table 60: Leading Insurance Firms in South Korea (2008):Percentage Breakdown of Market Share by Premiums for SamsungF and M, Hyundae, Dongfu F and M and Others 127

Table 61: Leading Insurance Firms in Philippines (2008):

Percentage Breakdown of Market Share by Premiums for Malayan

Insurance Co., Prudential Guarantee and Assurance, BPI/MS

Insurance Corp. and Others 127

Table 62: Leading Life Insurance Firms in Hong Kong (2010):Percentage Breakdown of Market Share Based on Premiums forAIA, Manulife, HSBC, AXA and Others 128

Table 63: Leading Life Insurance Firms in Thailand (2009):

Percentage Breakdown of Market Share by Premiums for AIA,

Thai Life, Bangkok Life, Muang Thai, Siam Comm NY Life and

Others 128

4a. JAPAN 129Pension Funds Market 129Corporate Pension Assets 129Public Pension Assets 129

4b. AUSTRALIA 130

Market Overview 130

Status of the Financial Market 130

Australia Witnesses Growth in Online Banking Users 130

Key Statistics 131

Table 64: Australian Leading Credit Unions (2010): Percentage

Breakdown of Market Share by - Credit Union Australia,

Savings and Loans, Australia Central Credit Union, Community

CPS Credit Union, New South Wales and Police and Nurses

Mutual Banking 131

4c. CHINA 132Market Overview - "Now & Then" 132Segmental Perspective 133Banking 133Liberalization Fuels Foreign Investments in Banking 133Mobile Banking: A Strategy to Gain Competitive Advantage 133Domestic Banks Dominate Online Banking Market 134Table 65: Internet Banking Market in China (2011):Percentage Share Breakdown of Trade Value by Corporate andPersonal Sectors 134Insurance 134Insurance: Phased Transition to Liberalization 134Table 66: Chinese Insurance Market (2011) - Percentage ShareBreakdown of Value of Insurance Premium by Segment - LifeInsurance & Non-Life Insurance 135

Table 67: Leading Life Insurance Firms in China (2010):

Percentage Breakdown of Market Share by Premiums for China

Life, Ping An, China Pacific, Tai Kang, Xin Hua, PICC Life,

PICC Health and Others 135

Securities 136

Government Priorities for a Better Securities Market 136

Credit Cards 137

CBRC Regulations to Control Credit Card Sales in China 137

4d. INDIA 138Overview 138Table 68: Financial Savings of Households in India (2011):Percentage Share Breakdown by Financial Instruments- BankDeposits, Insurance, Pension & Provident Funds, Mutual Fundsand Others 138Financial Services Market in India - Impact of Recession 138Destination India for Major Foreign Banks & Pension Funds 138Insurance Sector: Rising Opportunities 139Life Insurance to Gain Popularity 139Medical Insurance Expense to Increase 139Table 69: Indian Insurance Market (2011) - Percentage ShareBreakdown of Value of Insurance Premiums by Segment - LifeInsurance & Non-Life Insurance 140

Table 70: Leading Life Insurance Firms in India (2010):

Percentage Breakdown of Market Share for Reliance Capital,

Prudential ICICI, UTI, HDFC MF and Others 140

Banking - A Long March Ahead 140

Indian Banks Up for Plucking? 141

Technology Makeover Sending Ripples in the Banking Industry 141

Single Regulator - Is India Ready? 141

Mutual Funds 142

Overview 142

Distribution Channels Vary of Domestic and Foreign Players 142

Recent Developments 142

SEBI Abolishes Entry Load 142

QFIs Gain Permit to Invest in Mutual Funds 143

SEBI Relaxes Mutual Fund Merger Norms 143

Other Developments 143

Mortgage Industry 144

Credit Cards 144

An Under penetrated Market with Huge Potential 144

4e. SINGAPORE 145Singapore Banking Sector 145

4f. TAIWAN 146

Market Outlook 146

5. LATIN AMERICA 147Latin American Banking Industry Eyes More Investments 147Market Snapshots 147Insurance: A High Potential Industry 147Table 71: Latin American 5-Year Perspective for InsuranceIndustry by Geographic Region - Percentage Share Breakdown ofAnnual Premiums for Argentina, Brazil, Mexico, and Rest ofLatin American Markets for Years 2011 & 2015 148Debit Cards Issuers Face the Heat from Credit Cards 148Regional Market 148Brazil: A Key Market in Latin America 148Banking 149Outlook 149Insurance Industry: Overview 149Table 72: Household Penetration of Insurance in Brazil(2011): Percentage Breakdown of Number of Households withInsurance by Area 149Chile: Growth Spurred by Reforms and Stability 150Market Overview 150Market Reforms 150Banking 150Securities 151Insurance - A Well Developed Market 151Mexico 151Insurance Industry Abounds with Opportunities 151Key Statistics 152Table 73: Leading Life Insurance Firms in Mexico (2010):Percentage Breakdown of Market Share by Premiums forMetLife, BBVA/Bancomer, Grupo Nacional Provincial, MontereyNew York Life, Citi/Banamex and Others 152

Table 74: Leading Life Insurance Firms in Mexico (2010):

Percentage Breakdown of Market Share by Premiums for

MetLife, BBVA/Bancomer, Grupo Nacional Provincial,

Citi/Banamex and Others 152

Table 75: Leading Mexican Banks (2010*): PercentageBreakdown of Market Share Based on Deposits 153

6. REST OF WORLD 153

South Africa 153

Mobile Banking Sector Takes Off 153

GLOBAL DIRECTORY

To order this report:Banking Industry: Global Financial Services Industry

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