Summary Since ODS last produced its UK retail banking report, the industry has undergone significant change, in terms of both the size of the market and its competitive structure. The most important developments have been:
An estimated 74% expansion in the total asset value of banking products between 2000 and 2005.
Growing concentration in the industry, mainly due to increased mergers & acquisitions activity.
Macroeconomic change, particularly growth in mortgage lending driven by a sustained period of low interest rates.
The introduction of the Euro.
Increased regulation and its implications for corporate governance.
New technology and related security issues.
The outsourcing of back-office activities to offshore locations.
The aim of this report is to present key data relating to these changes, present them in an accessible manner, providing analysis in order to assess the current state of the industry and, moving forward, to ascertain the key drivers of change.
Although the report deals exclusively with the UK, its scope is occasionally broadened where insight may be gained from placing the domestic market in a wider international context.
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