Customers do not seek alternatives in competing banks due to difficulty in comparison
💶 Finance#market-entry+2 more
The AdC finds that high switching costs and long-standing customer–bank relationships, together with difficulties in comparing offers, deter customers from switching or exploring alternative banks. These frictions create effective barriers to entry for new and smaller banks, reducing competitive pressure in the retail banking market and raising concerns for regulators and policymakers.
CNN Portugal
