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Digital Banking Platform Market Growth Set to Surge Significantly during 2020-2027 by Leading Players Appway, CREALOGIX Holding, EdgeVerve Systems, Fiserv, Oracle

02-14-2020 02:22 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

The global digital banking platform market was valued at US$ 3.17 Bn in 2018 and is expected to reach US$ 8.67 Bn by 2027 with a CAGR of 12.07% in the forecast period from 2019 to 2027.

Digital banking platform as a comprehensive omnichannel platform that helps banks and financial institutions in streamlining and managing all of their digital customer interactions. Digital banking platforms serve as a foundation for a digital bank and enable banks to offer innovative digital products and services to customers. The implementation of these platforms results in improved customer experience and reduced costs while allowing banks to meet compliance requirements. The current trend of digital transformation in the global banking industry is fueling the demand for digital banking platforms. 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.

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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 in 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. This has further created opportunities for digital banking platforms. In the global digital banking platform market, Asia Pacific is expected to grow with the highest CAGR of 14.4% during the forecast period of 2019 to 2027.

The key players profiled in the digital banking platform market report include Appway AG, CREALOGIX Holding AG, EdgeVerve Systems Limited, Fiserv, Inc., Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Temenos Headquarters SA, and Worldline SA. Some other notable market players include Backbase, ieDigital, ebanklT, ETRONIKA, Fidor Solutions AG, Finastra, Intellect Design Arena Ltd, Kony, Inc., NETinfo Plc, NF Innova, TAGIT PTE LTD, and Technisys, which are not profiled in the report but the can be included based on request.

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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 Global Digital Banking Platform Market - By Type

1.3.2 Global Digital Banking Platform Market - By Deployment

1.3.3 Global Digital Banking Platform Market - By Geography

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Digital Banking Platform- Market Landscape

4.1 Market Overview

4.2 Ecosystem Analysis

4.3 PEST Analysis

4.3.1 North America PEST Analysis

4.3.2 Europe PEST Analysis

4.3.3 Asia Pacific PEST Analysis

4.3.4 Middle East & Africa PEST Analysis

4.3.5 South America PEST Analysis

5. Digital Banking Platform Market - Key Industry Dynamics

5.1 Key Market Drivers

5.1.1 Digital transformation in banking industry is fuelling the demand for digital banking platforms

5.1.2 Rising 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 Cybersecurity concerns related to cloud based banking solutions

5.3 Key Market Opportunities

5.3.1 Rising adoption of cloud-based solutions in 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

Continue.....

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Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

Pune, India

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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