According to research by KPMG, consumers prefer local rather than pan European when it comes to financial services. 2,300 bank customers were surveyed across Poland the Czech Republic, the UK and Switzerland about their views on local or cross-border finances. Apparently, almost 60% said that they did not want a banking system that was dominated by a few pan European companies.
Our View
From the results of the survey it would appear that each country's residents like things just the way they are. But, 60% of respondents did also say that they would consider products from a foreign bank and 68% said they would support the creation of a single European financial services market. Sounds like complete contradiction to us!