Banking
The emergence of GenAI is transforming advisory and support services, with increasing use of AI tools by banks.
Financial services market research
Thorough screening of research participants for banks, insurance companies, fintech start-ups, wealth management companies, and cryptocurrency firms. We are experienced in recruiting consumers, B2B profiles and technology users and professionals for financial services research in all major global markets.
60+ completed financial services projects
7 years of experience in financial services
1000+ financial services respondents recruited
Financial services
Financial services industry
The global financial services market is estimated to be worth around $34 trillion in 2024, and it has been estimated that financial services, encompassing banking, insurance, FinTech and asset management, make up between 20% and 25% of the world’s economy.
Around 6% of all market research conducted in 2023 was commissioned by financial services customers. The leading global centres for financial services are generally accepted to be New York, London, Hong Kong and Singapore and consequently, these are natural locations for B2B research on the financial services industry.
Financial services is one of the UK’s most successful industries and is crucial to its economy, employing around 2 million people, predominantly in London and South East England. Financial services contributed approximately £200 billion to the UK economy in both 2023 and 2024. Facilitating research within the financial services industry is one of FieldworkHub’s specialities. Our team regularly recruits for both qualitative and quantitative financial services research covering common banking topics, wholesale banking and emerging technologies.
Trending topics
Trending market research areas in the financial services industry
Insurance
RegTech is changing regulatory and compliance tasks, automating once lengthy processes and allowing for secure data encryption.
Fintech
Blockchain and other digital assets are changing the investment landscape, moving away from real-world bonds and equities.
Wealth management
Easy to use, efficient advisors and tech-enabled solutions towards wealth management are amongst current trends.
Key audiences
Key audiences for financial services market research
Retail banking customers
We’ve recruited regular and high net worth banking customers for IDIs, both consumer and B2B users of credit in the UK, and arranged depth interviews with expats who hold life insurance policies.
B2B decision makers for financial services
We've found UK SMB owners who take card payments, senior finance decision makers in the UK, China, Mexico, Brazil and other countries.
Crypto holders & traders
We’ve recruited crypto enthusiasts and crypto curious consumers in four major European cities for mobile app user testing, and crypto engagers and traders in Brazil for depth interviews.
Financial advisors & wealth managers
Our team has facilitated depth interviews with investment and wealth managers in the US, the UK, the UAE, Saudi Arabia and other countries.
Insurance professionals & agents
We’ve recruited for depth interviews with commercial insurance brokers, and HR managers and accountants in small companies who make medical insurance decisions for employees.
Investment professionals & analysts
Our team has previously recruited accredited investment analysts in Europe, the USA, Hong Kong and Singapore for focus groups about published investment research.
Ready to plan your next financial services market research project?
FieldworkHub provides local support and participant recruitment for both qualitative and quantitative research projects; so every element of your brief is executed with precision.
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Qualitative research
What types of qualitative research does FieldworkHub conduct in the financial services industry?
If you are looking to gather detailed insights into experiences, perceptions, and patterns of behaviour in the financial services industry, a qualitative research methodology could be the right choice. Qualitative methods of research explore the ‘whys’ and ‘hows’, providing important contextual information behind how decisions are made.
Financial services Focus groups
Focus groups allow participants to combine experiences and perspectives to explore ideas in depth. Commonly used during creative and conceptual development, they help you understand your customers’ needs, perceptions, and beliefs.
Financial services in-depth interviews
In-depth interviews (IDIs), where a moderator interviews a single respondent, can be conducted face-to-face, online, or over the phone. They are ideal for B2B research and for exploring delicate subjects with consumers and hard-to-reach groups.
Financial services Ethnographies
Ethnographic research is a qualitative research method in which the researchers observe participants using a product or service, or carrying out other activities, in their own environment, typically at work or at home.
Financial services Online bulletin boards
An online bulletin board (OBB) is an online forum for qualitative market research that enables participants to log into to carry out research tasks or reply to questions asked by a moderator at their own pace, typically over a period of a few days.
Financial services Online communities
A market research online community (MROC) is similar to an online bulletin board (OBB). However, unlike an OBB, on online community may be used to serve multiple purposes, and the community may remain active for weeks, months or even years.
Financial services UX testing
User experience (UX) testing is a qualitative research methodology which involves directly observing and interviewing a participant using a product or service. It is widely used for testing new versions of apps and websites before they are launched.
Financial services CX testing
Customer experience (CX) testing evaluates how customers interact with a product, service, or digital platform. It helps identify usability issues and overall satisfaction to improve the customer journey and ensure a smooth and enjoyable experience.
Financial services Video surveys
A video survey is a type of unmoderated qualitative research in which survey takers respond to a series of instructions or questions by making short videos using their smartphone, either in ‘selfie’ mode or to record an activity.
Financial services vox pops
Vox pop research involves making recordings of people, usually members of the public, responding to questions. These clips are often used in research to illustrate public opinion on widely known topics, brands, or products.
Quantitative research
What types of quantitative research does FieldworkHub conduct in the financial services industry?
If you are looking to develop a general picture of a particular topic, product, or service in the financial services industry, quantitative research methodologies can help you gain objective insights from your target audience. Usually the results are numerical, which can be helpful in identifying patterns, averages, and creating statistics.
Financial services Online surveys
Online surveys are a cost-effective research method with great flexibility in design. Automated data handling allows the results to be available quickly and many online surveys can be completed on smartphones, helping to improve the response rate.
Financial services CATI
CATI (computer-assisted telephone interviewing) leverages technology to reach those who aren’t online. CATI interviews follow an electronic script with built in routing and type in the respondent’s answers to each question as the interview proceeds.
Financial services CAPI
CAPI (computer-assisted personal interviewing) is a form of face-to-face interviewing where the interviewer reads the survey questions from a tablet device and inputs the respondent’s answers directly to the device.
Case studies
Case studies of financial services research
From online in-depth interviews to in-person focus groups, we’ve delivered a wide range of qualitative, quantitative, and mixed-methodology research projects within the financial services industry. Our work spans diverse audiences and industries, so you can count on us to uncover the insights you need.
Depth interviews: freelancers on banking, Germany
A German challenger bank wanted to recruit freelancers and self-employed people in Germany for face-to-face depth interviews to help them refine their proposition and marketing. FieldworkHub successfully recruited English- and German-speaking respondents to take part in in-depth interviews.
Ethnographic interviews: financial products, France
A leading management consultancy wanted to talk to French adults about use of financial products and services and their interest in a new digital concept they were developing. We were asked to recruit a mix of young professionals and parents in non-nuclear families for in-home interviews.
Focus groups, IDIs: deferred payments, Netherlands
FieldworkHub recruited consumers in the Netherlands for two rounds of research on the subject of deferred payments, involving a mix of online dyad interviews (with pairs who were friends or relatives) and mini focus groups. The recruitment brief required us to satisfy a number of interlocking quotas.
IDIs: wealth management services, UK, Canada
FieldworkHub found female respondents aged 50-70 with at least $250,000 or equivalent in investable assets who were either currently using, or considering using, a financial advisor or money manager. Via a combination of free-find recruitment and our in-house panel, we successfully engaged 6 women in Canada and the UK to take part in the study.
Multimodal research: accounting software, France
We were asked to find 24 respondents in France who owned, or worked for, small and medium-sized businesses and were heavily involved in accounting within the business for 60-minute online interviews, two-hour ideation workshops and an online user test of some potential new features that the client team had worked on.
Online community: sending payments to Africa, South Asia
A South African payment platform wanted to talk to consumers in the UK who regularly send remittances to Africa and South Asia about the features that they expect and need from these platforms. We used our panel to recruit over 50 candidates and screened in a final 12 participants using an online questionnaire.
Got questions?
Frequently Asked Questions
As consultants in the research space, we’ve got the answers. And if there’s anything left unanswered, drop us an email or give the team a call. We’d be happy to help.
1
How does conducting market research benefit the financial services industry?
With increased government regulations and scrutiny regarding financial security, it is important for financial organisations to utilise market research in understanding customer expectations, improving user experience and helping to evaluate new products and digital services. FieldworkHub has managed all manner of financial market research projects.
2
Do you conduct research for digital banking and fintech?
FieldworkHub has a wide range of experience conducting market research on fintech products. We have facilitated testing research for a mobile banking app and payment software for businesses, with audiences spanning high street banking customers to high-net worth investors.
3
Do you have experience recruiting participants for insurance market research?
Yes, at FieldworkHub we have worked with a large range of businesses, including insurance businesses. We have specifically assisted with projects on healthcare insurance in multiple European countries, motor insurance in the UK, life insurance in Dubai and more.
Looking to conduct market research in the financial services industry?
Contact our feasibility specialists to discuss your specific research needs and how we can help you gain deeper insights from the financial services industry in 60 global markets.
