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Digital Banking Platform Market Size Report: Global Industry Share, Trends, Growth and Forecast 2022-2027

08-23-2022 08:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Digital Banking Platform Market Size Report: Global Industry

The latest research study "Digital Banking Platform Market: Global Industry, Growth, Trends, Share, Size, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global Digital Banking Platform Market size reached US$ 5.07 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.76 Billion by 2027 exhibiting a CAGR of 12.71% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Digital banking platforms entail the financial services provided by banks solely via online mode. They rely on application programming interfaces (APIs), web-based services, and process automation to serve customers through online channels. Digital banking platforms involve the digitization of all traditional banking products and services, such as funds transfer, cash withdrawal, bill payments, opening deposit accounts, loan management, etc.

They also provide several features, including real-time transaction notifications, scheduling expenditures, obtaining bank statements, promoting cardless payments and account-to-account (A2A) payments, remotely monitoring personal finance management (PFM), etc. Digital banking platform services can be conveniently availed through mobile phones, laptops, and desktops and enable users to control everyday financial operations without hassle.

Download free sample brochure:https://www.imarcgroup.com/digital-banking-platform-market/requestsample

Global Digital Banking Platform Trends and Drivers:

The escalating shift from traditional to online banking solutions is primarily driving the digital banking platform market. Additionally, the expanding penetration of smartphones and internet coverage and the elevating requirement for enhanced transparency and flexibility in banking operations are acting as significant growth-inducing factors.

Besides this, the increasing utilization of Artificial Intelligence (AI) and machine learning (ML) by online banking platforms for detecting and preventing payment frauds, assessing risks, improving processes for anti-money laundering (AML) operations, and performing know-your-customer (KYC) regulatory checks is further augmenting the market growth.

Moreover, the growing demand for improved customer experiences and convenience and the widespread adoption of cloud-based solutions by banks and financial institutions for obtaining higher scalability are expected to propel the digital banking platform market over the forecasted period.

Click here to view detailed information with table of content: https://www.imarcgroup.com/digital-banking-platform-market

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:
· Solutions
· Services

Breakup by Type:
· Retail Banking
· Corporate Banking

Breakup by Deployment Mode:
· On-premises
· Cloud-based

Breakup by Banking Mode:
· Online Banking
· Mobile Banking

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

The major players in the market are Appway AG (FNZ (UK) Ltd.), Fidelity Information Services (FIS), Finastra Limited, Fiserv Inc., Infosys Limited, nCino, NCR Corporation, Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Temenos AG, The Bank of New York Mellon Corporation and Worldline.

Also, Read Latest Research Reports by IMARC Group:

Pediatric Medical Devices Market Size: https://www.imarcgroup.com/pediatric-medical-devices-market

Blockchain in Retail Market Size: https://www.imarcgroup.com/blockchain-in-retail-market

Fluid Power Equipment Market Size: https://www.imarcgroup.com/fluid-power-equipment-market

Contact Us:

IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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