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Digital Banking Platform Market Revenue, Share, Trends, Competitive Analysis, Demand and Opportunities by 2023; TCS Limited, Oracle Corporation, Infosys Limited, Kony Inc., Backbase
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Digital banking platform market through large enterprise accounts for a larger digital banking platform market as compared to the SMEs. The market is segmented into public, private and hybrid cloud, of which private cloud generated the highest revenue.
Factors driving the growth of the global digital banking platform market are increased importance of digital customer experience, shorter replacement cycle, and higher safety and reliability. The increasing level of investments by public/ private capital holders in the development of advanced and sophisticated mobile friendly banking platforms, enterprise, and web oriented banking applications, and custom-built banking services promise great opportunities for a significant growth of the global digital banking industry in near future.
North America holds the largest digital banking platform market in terms of revenue generation. The regional market is driven by early adoption of digital technologies in the banking sector. The market in Asia-Pacific is expected to grow at a good rate during the forecast period. Robust growth in IT infrastructure, and huge investments in digital banking sector by public and private players are expected to back the growth of the regional market.
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Some of the key players in the industry include TCS Limited, Oracle Corporation, Infosys Limited, Kony Inc., Backbase, Cachet Financial Solutions Inc, EdgeVerve Systems Limited and Capital Banking Solutions.
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