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For eBusiness & Channel Strategy Professionals

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March 13, 2008

Non-Banks Make Their Way Into European Financial Services

Non-Bank Distribution Creates Opportunities For Established Firms

by Alexander Hesse

with Benjamin Ensor, Vanessa Niemeyer, Ph.D.

This is an excerpt

Executive Summary

A growing number of European consumer brands, such as retailers, car manufacturers, airlines, and even football clubs, are offering their customers financial services like loans, savings, and insurance. There's a big opportunity: 12% of online Europeans have bought financial products from these companies, and 27% would consider doing so in the future. Today's non-bank clients belong to the group of financially self-directed consumers with above-average incomes; they buy at non-banks mainly for convenience, trust in their brands, and a good price. Channel strategy executives at financial services firms should seek distribution partnerships with non-banks that provide assets like opportunity, frequency of contact, and strong brands.

This is an excerpt

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