A MAJOR upheaval in Europe’s personal banking and insurance markets is predicted in a study by the Henley Centre for insurance giant Swiss Re. Come 2010, who will dominate the European financial services market? Barclays, Deutsche Bank, Credit Lyonnais? Maybe – but equally likely are Volkswagen, AC Milan and McDonald’s. Also mentioned are Sony, Tesco, Sainsbury, Manchester United, Virgin and French hypermarket chain Carrefour - brand names that are known and trusted in the mass market. In evidence of the trend towards all-purpose brands in the sector, the study cites the successful financial services arms of the supermarket chains; also Volkswagen’s pan-European online banking service. The other companies quoted in the study all offer own-branded credit cards and could diversify further into financial services, driven by the spread of online banking via digital TV and PCs.
© Copyright 2017
All rights reserved including database rights. This electronic file is for the personal use of authorised users based at the subscribing company's office location. It may not be reproduced, posted on intranets, extranets or the internet, e-mailed, archived or shared electronically either within the purchaser's organisation or externally without express written permission from WARC.