Press release
Digital Banking Platform Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Digital Banking Platform Market Size
The move from conventional banking to online banking is projected to drive the expansion of the digital banking platform market. Online banking, an electronic payment system that allows customers to carry out several financial transactions via a website or payment app, enhances offerings and boosts earnings, thus compelling financial institutions to pay more attention to digital banking. This, in turn, contributes to the growth of the digital banking platform market. For example, the India Brand Equity Foundation, a government agency for export promotion in India, predicts that by 2025, the fintech market in India will expand to Rs. 6.2 trillion (USD 83.42 billion). Fintech financial services play a vital role in modernizing the banking system through digital channels like online and social media. As such, this transition from traditional to online banking fuels the growth of the digital banking platform market.
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What is the projected compound annual growth rate (CAGR) of the digital banking platform market from 2025 to 2034, and what factors influence it?
The market size of digital banking platforms has experienced swift expansion in the previous years. The projected growth is from $7.33 billion in 2024 to $8.12 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.9%. Factors fueling this surge during the historical phase include the emergence of internet and mobile devices, evolving client expectations, legislative shifts, enhanced security, reduction in costs and increased efficiency, impacts of the pandemic, and the adoption of remote banking.
The market size for the digital banking platform is anticipated to experience swift expansion in the upcoming years, with a projected value of $14.66 billion in 2029 and a compound annual growth rate (CAGR) of 15.9%. The anticipated growth during the predicted period can be traced to investments in digital transformations, partnerships with fintech startups, worldwide scaling, market rivalry, and the implementation of AI-driven insights and analytics, alongside data protection and privacy policies. Noteworthy trends for this forecast period involve decisions made based on data, digital and remote new customer applications, green banking and sustainability, and growth of the business ecosystem.
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How are the latest trends influencing the growth of the digital banking platform market?
Key technological developments are becoming increasingly popular in the sphere of the digital banking platform market. Leading businesses in the market are innovating new tech solutions to minimize operating expenses and facilitate transactions that are quicker and more secure. For instance, SC Ventures, a fintech investment firm based in the United States, unveiled audax financial technology in September 2023. Thanks to its modular features, audax provides a holistic digital banking platform capable of effectively handling vast amounts of customer data simultaneously. Its plug-and-play system supports the entire client lifecycle, encompassing data reporting, deposits, loans, client service, and staff interfaces. The audax technology, which was designed to support the central systems of traditional banks, allows these institutions to undertake modern digital transformation without the need for costly and lengthy internal development or migration.
What are the major segments of the digital banking platform market and their role in driving growth?
The digital banking platform market covered in this report is segmented -
1) By Type: Corporate Banking, Retail Banking
2) By Component: Platforms, Services
3) By Banking Mode: Online Banking, Mobile Banking
4) By Deployment: Cloud, On-Premise
Subsegments:
1) By Corporate Banking: Cash Management, Trade Finance, Commercial Lending, Treasury Management, Corporate Investment Services
2) By Retail Banking: Online Banking, Mobile Banking, Digital Payments, Personal Loans, Savings And Investment Accounts
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Which regions are key players in the growth of the digital banking platform market?
North America was the largest region in the digital banking platforms market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital banking platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the digital banking platform market?
Major companies operating in the digital banking platform market include Appway AG, Crealogix Holding AG, EdgeVerve Systems Limited, Fiserv Inc., Oracle Corporation, SAP SE, Sopra Steria, Temenos AG, Worldline SA, Cor Financial Solution Ltd., Fidelity National Information Services Inc., Vsoft Corporation, Apiture, The Bank of New York Mellon Corporation, CR2 Ltd, Alkami Technology Inc., Finastra Group Holdings Limited, Urban FT Group Inc., Q2 Software Inc., Sopra Banking Software SA, Tata Consultancy Services Limited, Backbase B. V., ebankIT- Sistemas de Informação S. A., Intellect Design Arena, Mambu GmbH, MuleSoft LLC, nCino Inc., National Cash Register Corporation, NETinfo Plc, Technisys S. A.
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What Is Covered In The Digital Banking Platform Global Market Report?
•Market Size Forecast: Examine the digital banking platform market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the digital banking platform market for a structured understanding.
•Key Players Overview: Analyze major players in the digital banking platform market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital banking platform market.
•Segment Contributions: Evaluate how different segments drive overall growth in the digital banking platform market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital banking platform market.
•Industry Challenges: Identify potential risks and obstacles affecting the digital banking platform market.
•Competitive Landscape: Review strategic developments in the digital banking platform market, including expansions, agreements, and new product launches.
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