Gartner Research

Market Trends: Emerging U.S. Nonbanking Consumer Financial Services Providers, 2013

Published: 24 January 2014

ID: G00258599

Analyst(s): Rajesh Kandaswamy

Summary

A combination of trends — banking setbacks due to the financial crisis, demographic shifts and new digital technologies — has enabled new nonbanking financial services providers to emerge. This report segments these entrants and the opportunity they present to technology and service providers.

Table Of Contents

Introduction

Market Trend

  • Banks Deal With Stagnating Revenue, While Reducing Noncore Assets
  • 79 Million Millennials Will Need Access to Banking Products and Services
  • 69 Million Adults Are Either Unbanked or Underbanked, Relying on Alternative Financial Services
  • Technology Trend
    • Consumers Embrace Digital Technologies and Expect the Same of Businesses
    • Internet and Mobile Enable New Solutions in Personal Finance
  • Market Structure Trend
    • High-Tech Companies
    • Banking Substitutes
    • Nonbanking Financial Companies
    • Large Retailers
    • Alternative Financial Services Providers
    • Summary of Emerging Nonbanking Consumer Financial Services Providers

Contrarian View

Vendors to Watch

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