Gartner Research

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

Published: 24 January 2014

ID: G00258599

Analyst(s): Rajesh Kandaswamy


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


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

Gartner Recommended Reading

©2021 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.

Already have a Gartner Account?

Purchase this Document

To purchase this document, you will need to register or sign in above

Become a client

Learn how to access this content as a Gartner client.