Digital banking platform Market Show at 11.0% CAGR to 2027 | Appway AG, CREALOGIX Holding AG, EdgeVerve Systems Limited, Fiserv, Oracle Corporation, SAP SE, Sopra Steria

Europe Digital banking platform Market to 2027 - Regional Analysis and Forecasts by Deployment (Cloud and On-Premise); Type (Corporate Banking and Retail Banking)

Europe digital banking platform market in is expected to grow from US$ 935.7 Mn in 2018 to US$ 2340.3 Mn by the year 2027. This represents a CAGR of 11.0% from the year 2018 to 2027. In the current scenario, consumer devices are being widely used by consumers for availing various digital services. Consumer devices such as smartphones, tablets, PCs, etc. have become an integral part of today's consumers' lives. The preference of customers while availing banking services is changing fast towards mobile and online banking. A significant number of users are now accessing their bank accounts either by mobile apps or mobile browsers. Therefore, banks need to make sure that they adapt to the changing banking channels to cater, cross-sell, and up-sell to mobile consumers. Digital banking platforms allow the bank to transition into the digital ecosystem through easily deployable and customized solutions. Interactive mobile banking apps and websites result in enhanced customer experience and in turn increase customer loyalty. The increasing demand for smartphones will drive the number of digital banking customers in the near future, which in turn boost the growth of the digital banking platform market.

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Companies Profiled in this report includes: Appway AG, CREALOGIX Holding AG, EdgeVerve Systems Limited, Fiserv, Inc., Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services, Limited (TCS), Temenos Headquarters SA, Worldline

The evolving architectures and advanced features of today's cloud platforms are boosting the adoption of cloud-based solutions in each and every industry verticals, including banking and financial sector. Presently, cloud-based digital banking platform solutions are being adopted by various banks due to low initial investments and fast updates offered by these solutions; and this trend in digital banking platform market is anticipated to grow during the forecast period of 2019 to 2027. With investment in cloud-based digital banking platform solutions, banks are anticipated to reduce their operational costs, enhance customer experience, thus increasing productivity and revenues. The complexity and high investment of on-premise solutions is another reason that is boosting the demand for cloud-based digital banking platforms. Not every mid-size or even the large banks find it feasible to invest in in-house digital banking platforms due to the involvement of huge infrastructure and maintenance costs associated with these systems. Each bank requires a customized digital banking solution based on their specific requirements and using cloud-based solutions for these specific needs is considered as the best business model for most banks worldwide. The increased digitization across the BFSI sector is expected to create lucrative business opportunities in the digital banking platform market.

The Europe digital banking platform market by type is segmented into corporate banking and retail banking. Banking industry always keen to adopt new technologies to complete the task more efficiently without consuming time. Banks have to manage a high volume of data, zero tolerance for errors, and rapid processing requirements. All these needs have led to banks moving swiftly to improve their processes and innovate. Corporate banking is considered as a relationship-based service. Relationship-based service is more customer-oriented as there is communication between a business and its audience. Corporate banking enables businesses to build and establish long-term relationships with their customers. Banks use digital innovation to transmute corporate banking and increase their profits. FinTech start-ups and tech giants are concentrating their attention on corporate banking segment. As, corporate customers are demanding more efficient operations, faster delivery of innovative products, and greater connectivity. Advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Chatbots are also transforming corporate banking.

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Table of Content:

1.Introduction
2.Key Takeaways

3.Research Methodology

4.Europe Digital Banking Platform- Market Landscape

5.Europe Digital Banking Platform Market - Key Industry Dynamics

6.Europe Digital Banking Platform Market-Analysis

7.Europe Digital Banking Platforms Market - By Deployment

8.Europe Digital Banking Platforms Market - By Type

9.Europe Digital Banking Platform Market- Country Analysis

10.Industry Landscape

11.Company Profiles

11.1 Appway AG

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Products and Services

11.1.4 Financial Overview

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 CREALOGIX Holding AG

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Products and Services

11.2.4 Financial Overview

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 EdgeVerve Systems Limited

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Products and Services

11.3.4 Financial Overview

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 Fiserv, Inc.

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