Europe Digital banking platform Market Growth Set to Surge Significantly during 2020-2027

Europe digital banking platform market 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.

Digital transformation or digitization of businesses refers to the integration of digital technology in various business processes, organizational activities, and business models. End-To-End business process optimization, increased operational efficiency, improved customer experience, and reduced costs are few of the factors driving the digital transformation in the banking industry. The increasing digital transformation revolution in banking industry presents a massive opportunity for digital banking platform providers as they enable banks to launch digital services faster and enhance the customer experience. In addition to this, the proliferation of smart devices, easy availability of internet, the advancement of IoT, and artificial intelligence have been increasing exponentially which is further leading to the increasing need of mobile/digital-first strategy among banks. The paradigm shift of banks from traditional channels to digital and automated channels results in multiple benefits ranging from improved efficiency to reduced cost and increased revenue opportunities. In addition to this, the rising technological advancements in cloud computing and storage technology, the power of cloud-based digital banking platforms has increased multi-fold during the past few years.

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Companies Mentioned
o Appway AG
o CREALOGIX Holding AG
o EdgeVerve Systems Limited
o Fiserv, Inc.
o Oracle Corporation
o SAP SE
o Sopra Steria
o Tata Consultancy Services Limited (TCS)
o Temenos Headquarters SA
o Worldline SA

Currently, Germany is dominating in the Europe digital banking platform market owing to the strong presence of the banking industry in the country. Factors such as growing digitization across BFSI sector and rising demand for mobile banking solutions are contributing substantially towards the growth of the digital banking platform market in Europe.

EUROPE DIGITAL BANKING PLATFORM MARKET - SEGMENTATION

Europe Digital Banking Platform Market by Type
o Corporate Banking
o Retail Banking

Europe Digital Banking Platform Market by Deployment Type
o On-Premise
o Cloud

Europe Digital Banking Platform Market by Country
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe

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Table of Content:

1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Digital Banking Platform Market - By Type
1.3.2 Europe Digital Banking Platform Market - By Deployment
1.3.3 Europe Digital Banking Platform Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Digital Banking Platform- Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 Europe PEST Analysis
5. Europe Digital Banking Platform Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Digital transformation in the BFSI sector is aiding the growing demand for digital banking solutions
5.1.2 Growing demand for smart mobile devices and digital banking services among consumers
5.2 Key Market Restraints
5.2.1 Lack of cloud infrastructure and requirement of data localization in countries
5.2.2 Data Privacy and Cybersecurity Concerns
5.3 Key Market Opportunities
5.3.1 Growing popularity of Cloud-based solutions across the banking industry
5.4 Future Trends
5.4.1 Evolving ecosystems due to collaborations between traditional banks and fintech companies
5.5 Impact Analysis of Drivers and Restraints
5.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

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This release was published on openPR.