Digital Banking Platform Global Market Report 2022: Sector to Reach $10.33 Billion by 2026 at a 13.9% CAGR
Global Digital Banking Platform Market
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The global digital banking platform market is expected to grow from $5.39 billion in 2021 to $6.15 billion in 2022 at a compound annual growth rate (CAGR) of 14.0%. The digital banking platform market is expected to grow to $10.33 billion in 2026 at a CAGR of 13.9%.
North America was the largest region in the digital banking platforms market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this digital banking platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The shift in trend from traditional banking to online banking is expected to propel the growth of the digital banking platform market going forward. Online banking refers to an electronic payment system that enables customers to conduct a range of financial transactions through a website or payment app.
Online banking helps improve services and increase profits, causing financial institutions to shift their focus to digital banking, resulting in the growth of the digital banking platform market. For instance, according to India Brand Equity Foundation, an Indian government export promotion agency, by 2025, India's fintech market is expected to reach Rs. 6.2 trillion (US$83.42 billion).
Fintech financial services are responsible for transforming the banking system into various digital channels such as online channels and social channels. Therefore, the shift in trend from traditional banking to online banking is driving the growth of the digital banking platform market.
Technological advancements are a key trend gaining popularity in the digital banking platform market. Major companies operating in the digital banking platform market are developing new technologies to reduce operating costs and enable faster and safer transactions. For instance, in June 2020, Fiserv, a US-based payment and financial services technology provider, unveiled Virtual Banking Assistant 2020, an interactive tool that uses AI-based natural language processing to assist banks and credit unions in managing virtual customer transactions more efficiently. With Fiserv's Virtual Banking Assistant, which incorporates Clinc's conversational AI technology, banks and credit unions can have more fruitful and effective online conversations with their customers as a complement to in-person interactions and an essential part of a comprehensive customer experience.
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1) By Type: Corporate Banking; Retail Banking
2) By Component: Platforms; Services
3) By Banking Mode: Online Banking; Mobile Banking
4) By Deployment: Cloud; On-Premise
No. of Pages
2022 - 2026
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2026
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Digital Banking Platform Market Characteristics
3. Digital Banking Platform Market Trends And Strategies
4. Digital Banking Platform Market - Macro Economic Scenario
5. Digital Banking Platform Market Size And Growth
6. Digital Banking Platform Market Segmentation
7. Digital Banking Platform Market Regional And Country Analysis
8. Asia-Pacific Digital Banking Platform Market
9. China Digital Banking Platform Market
10. India Digital Banking Platform Market
11. Japan Digital Banking Platform Market
12. Australia Digital Banking Platform Market
13. Indonesia Digital Banking Platform Market
14. South Korea Digital Banking Platform Market
15. Western Europe Digital Banking Platform Market
16. UK Digital Banking Platform Market
17. Germany Digital Banking Platform Market
18. France Digital Banking Platform Market
19. Eastern Europe Digital Banking Platform Market
20. Russia Digital Banking Platform Market
21. North America Digital Banking Platform Market
22. USA Digital Banking Platform Market
23. South America Digital Banking Platform Market
24. Brazil Digital Banking Platform Market
25. Middle East Digital Banking Platform Market
26. Africa Digital Banking Platform Market
27. Digital Banking Platform Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Banking Platform Market
29. Digital Banking Platform Market Future Outlook and Potential Analysis
A selection of companies mentioned in this report includes
Crealogix Holding AG
EdgeVerve Systems Limited
Cor Financial Solution Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/npgfo
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