The passage of the act remains limited: the “churn” (the loss of goodwill) rose slightly last year to 4.5% against 4.3% in 2016, despite the entry into Macron force of the law on banking mobility in February 2017 and the arrival of a multitude of offers and new entrants, from N26 Orange Bank.
“For three-quarters of customers planning to change banks, the Macron law has no impact on their choice”, says Bain & Company.
More than one in two (54%) also not familiar with this device which requires banks to arrange a visa free of charge on behalf of their client again and automates tracking withdrawals and transfers.
| Read also: Does The Macron law on banking mobility is Schitt?
The survey also found that about “25% of customers have an appetite for financial products provided by non-traditional actors” who are not a bank or an insurer, such as “Google, Facebook, Apple, financial player innovative startup, telco, retail, “as stated in the questionnaire.
“There is a relationship breakup of risk to many non-bank players, and Fintech néobanques, Gafa, retailers’ analysis consulting firm.
A global study of the same firm showed that in some countries, including the US and the UK, consumers are almost as trust PayPal and Amazon to banks for their money. The French are more skeptical, but the youngest:
“Nearly 40% of Millennials plan to buy a new product or financial service [to a Web giant] within a year, and almost 70% within 5 years,” stated the study in December.
[The new players in the Fintech still little known. Credits: Bain & Company]
“The impact of innovative financial actors (including Fintech) is in substantial payment”, relativized however Bain & Co. “The new players still lack legitimacy among customers are few to know them and very few to appeal to them. Only PayPal is used by a significant proportion of consumers, between 20% and 25%. ”
| Read also: PayPal and Amazon considered almost as reliable as banks
Apart from the American pioneer in online payment, few French brands stand out in terms of reputation, and to a lesser extent, uses as Account Nickel (acquired by BNP Paribas), the jackpot Leetchi (acquired by Crédit Mutuel Arkéa) and lending platform to individuals Younited Credit.
The head of BNP Paribas’ retail banking, Thierry Laborde, recently told us that “all digital banks, Hello bank Boursorama, C-zam, N26, etc., took a third of the market openings account in France “last year. True, some of these players are banks or bank subsidiaries, but this move is indicative of a tendency of consumers to turn to alternative offers and above all.