LONDON–() – A well-known business intelligence company, Infiniti Research, has announced the finalization of its latest article on Changing Landscape for Retail Banking in Canada. This article provides comprehensive information on:

  • An overview of the Canadian retail banking sector

  • Trends in Retail Banking in Canada

The pressure on retail banks and other financial institutions in Canada remains high. This makes innovation and customer satisfaction more important than ever for players in the retail banking industry, ”says a retail banking industry expert at Infiniti Research.

The Canadian retail banking sector will see several opportunities to capitalize and challenges to be avoided this year. Are you not prepared with the right strategies to thrive? Request a free proposal to find out how our solutions can help you keep up with the market and formulate effective strategies for success.

Trends in Retail Banking in Canada

Unbundling services

Canada will soon be exposed to open banking regulations that will fragment traditional pools of retail assets and liabilities. Open banking refers to common interfaces between banks and third parties to facilitate more competition and create new business opportunities. Although retail banking companies have sought a vertical approach offering top-down services for several decades, many new entrants to retail banking now want to be “horizontal” and dominate an attractive specialty.

As global companies seek to make their products stand out in an increasingly crowded marketplace, innovation has gained a place on the CEO’s agenda. Learn more about how you can innovate your existing strategies and processes to keep pace with changing market demands by leveraging our solutions. Request a free brochure.

Rising interest rates

Interest rates are gradually rising from their historic lows and consumers will soon be faced with debt levels. The retail banking sector will reflect the changing environment with a greater focus on the impact of rising interest rates, lending transparency and new innovative value propositions. Continued rising rates may result in lower personal loan offerings, but lending solutions such as installment loans and point-of-sale financing will shift the market toward time-sensitive sources of credit.

Platform

Innovation is vital for retail banking companies to effectively meet consumer demands. Much of the financial services industry in Canada revolves around the digital age and growing consumer expectations for convenient, frictionless digital access. As more consumers seek streamlined solutions, retail banking companies in Canada will soon focus on providing “one-stop-shops” that bring together both products and services on a single platform.

Learn more about Infiniti solutions for businesses in the retail banking industry. Request more information.

You can also read some of our recent articles on the retail banking industry:

About Infiniti Research

Created in 2003, Infiniti Research is a leading business intelligence company providing intelligent solutions to meet your business challenges. Infiniti Research studies markets in over 100 countries to help analyze competitive activity, see past market disruptions and develop smart business strategies. To learn more, visit:https://www.infinitiresearch.com/about-us