Press release
Digital Banking Market Business Growth: Alkami, Apiture, Appway, Backbase, BNY Mellon, Oracle
"Digital Banking"
Top players covered in Digital Banking Market report: Alkami; Apiture; Appway; Backbase; BNY Mellon; CR2; EdgeVerve; ebankIT; Finastra; Fiserv; Intellect Design Arena; Mambu ; MuleSoft; nCino; NCR; NETinfo; Oracle; SAP; Sopra Banking Software; TCS; Technisys; Temenos; TPS; Velmie; Worldline.
Digital Banking Market Recent Developments:
In September 2021, TCS launched TCS BaNCS Cloud for Asset Servicing, which automates the servicing of all classes of assets across all markets, and is targeted at custodians, broker dealers, asset managers, and investment and private banks.
In April 2021, NCR and Google Cloud collaborated which would allow NCR to expand cloud availability of its digital banking software portfolio, which includes the NCR channels services for retail banking and payment processing platform.
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The surge in the number of individuals utilizing the internet and the shift from conventional banking to online banking are the primary catalysts behind the expansion of the market. Additionally, the rise in the adoption of cloud-based platforms for attaining enhanced scalability further propels the market's growth. Nevertheless, the existence of security and compliance concerns within the digital lending platform poses obstacles to the expansion of the digital banking platform market. Moreover, the proliferation of machine learning and artificial intelligence within the digital banking platform, coupled with the increase in innovative banking services and the rise in corporate investors, is anticipated to present profitable opportunities for the market.
The retail banking sector is anticipated to experience the most substantial growth rate and is projected to possess a considerable market share throughout the anticipated period. This can be attributed to the considerable upsurge in the desire for digital banking platforms among individuals, as well as the increased investment by small and medium-sized enterprises in the nation's digital banking platform.
Scope of the Digital Banking Market Report:
The Digital Banking Market is segmented into various segments such as Type, Service and Region:
Based on type, the digital banking market is segmented into:
Retail banking
Corporate banking
Investment banking
Based on the service, the digital banking market is segmented into:
Transactional services:
Cash deposits and withdrawals
Fund transfers
Auto-debit/auto-credit services
Loans
Non-transactional services:
Information security
Risk management
Financial planning
Stock advisory
Based on region, the digital banking market is segmented into:
Asia Pacific
North America
Europe
South America
Middle East & Africa
Digital Banking Market Regional Analysis:
North America to Dominate the Market
North America is expected to have highest share due to the digital banking is a highly sought-after financial and banking service within the confines of North America.
Prominent regional banks are actively engaged in constructing their own internet-based banking services.
Frequently Asked Questions:
What are the years considered to study Digital Banking Market?
What is the compound annual growth rate (CAGR) of the Digital Banking Market?
Which region holds the largest market share in Digital Banking Market?
Which region is the fastest growing in Digital Banking Market?
Who are the major players in Digital Banking Market?
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Digital Banking Market Size:
In 2018, the global Digital Banking market size was 5.180 Billion USD and it is expected to reach 16.200 Billion US$ by the end of 2025, with a CAGR of 15.3% during 2019-2025.
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