"Smart Strategies, Giving Speed to your Growth Trajectory"

Digital Banking Platforms Market Size, Share & Industry Analysis By Component (Solution, Services), By Banking Type (Corporate Banking, Investment Banking, Retail Banking), By Deployment Mode (On-Premise, Cloud), By Banking Mode (Online Banking, Mobile Banking)And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106509 | Status : Ongoing

 

KEY MARKET INSIGHTS

Digital banking platforms is a tool that digitize and automates bank operations, allowing banks to offer digital financial products, and facilitating digital customer interactions. Adoption of digital banking platform helps to accelerate banking services. Through this platform, individual can check their accounts balance, easily make transactions, and transfer money just with a single click of a button from their digital device. Adoption of digital banking platform is significantly high in working class and elderly people as it saves travel time and offer convenience to carry out their bank work from the comfort of their homes. Additionally, the market is fragmented owing to presence of large number of players across market and intense competition among them fuels the market growth. Owing to these advantages, demand for digital banking platforms is growing among individuals which is expected to propel the growth of the market.


Digital banking platforms usually rely on web-based services. It helps banks in saving on the costs for keeping the systems up to date and minimize purchasing expensive hardware and software. Furthermore, the retail banking sector is expected to grow at significant rate, owing to rise in investment by SMEs in digital banking platform and increase in demand for platform among the individuals. In addition, use of digital banking platform is environmental friendly as it does not require paper work and keeping track of the account history through all paper statements unlike traditional banking system. Also, filing income tax returns has become easy by using digital banking platform, as it does not require tedious tax returns filling work like traditional endless paperwork. As a result of these factors, demand for digital banking platforms is significantly increasing among individuals across the globe.

IMPACT OF COVID-19 ON DIGITAL BANKING PLATFORMS MARKET


The COVID-19 had unprecedented impact on the enterprises, healthcare, manufacturing, and retail sector. Due to pandemic, many organizations faced several challenges, such as ensuring optimal business operations and managing the health of the workforce. The pandemic had positive impact on digital banking platforms market. Digital banking platforms helped banking sector across the globe by providing faster as well as convenient mobile and online banking solutions. During the pandemic period, many financial institutes around the globe were temporarily closed. The use of mobile and online banking platform allows customers to access their accounts 24/7 and perform banking tasks. Thus, it is analyzed that post COVID-19 demand for digital banking platforms has significantly increased among end-users across the globe and it is expected to drive the market during forecast period.

KEY INSIGHTS


The report will cover following key insights:


  • Micro Macro Economic Indicators

  • Drivers, Restraints, Trends and Opportunities

  • Business Strategies Adopted by the Players

  • Impact of COVID-19 on Digital Banking Platforms Market

  • Consolidated SWOT Analysis of Key Players


REGIONAL ANALYSIS


To gain extensive insights into the market, Request for Customization


North America is expected hold the largest market share in the global market. Demand for digital banking platform is significantly increasing across the region to deliver the fast and secured banking services. According to Forbes in 2020, 76% of Americans have used their primary bank’s mobile app for everyday banking activity such as viewing account balances or depositing checks. Additionally, presence of major market players such as Alkami, Apiture, MuleSoft, Fiserv, and BNY Mellon among others in the region intensify the competition among them and helps in generating revenue in the region.

Asia Pacific is anticipated to have significant growth during forecast period. Over the past few years, there is constant rise in technologies, which results in a steady growth in the amount of services in the region. Growing adoption of digital technologies in banking platforms in emerging economies such as Singapore, China, India, Australia, South Korea and others is expected to drive the market growth rapidly. In addition, presence of adequate number of market vendors is propelling demand for digital banking platforms in the region.

KEY PLAYERS COVERED


The report will include the profiles of key players such as Alkami, Appway, Apiture, BNY Mellon, Backbase, CR2, Fiserv, Finastra, Intellect Design Arena, MuleSoft, NCR Corporation, Oracle Corporation, Sopra Banking Software, SAP SE, and others.

Key players in the market like Finastra, Fiserv, Intellect Design Arena, NCR Corporation, and MuleSoft etc. are entering into strategic partnerships and collaborations to expand the business. Market players are focused on partnership, new product launch and product enhancement in existing product to accelerate market growth.

SEGMENTATION






























  ATTRIBUTE

  DETAILS

By Component



  • Solution

  • Services

    • Professional Services

    • Managed Services





By Banking Type



  • Corporate Banking

  • Investment Banking

  • Retail Banking



By Deployment Mode



  • On-Premise

  • Cloud



By Banking Mode



  • Online Banking

  • Mobile Banking



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania and Rest of Asia Pacific)

  • Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa and Rest of MEA)

  • South America (Brazil, Argentina and Rest of South America)



KEY INDUSTRY DEVELOPMENTS



  • August 2021 - Finastra collaborated with Salt Edge Limited, a financial technology company. Through this collaboration Finastra aims to enhance the speed of agreement with the payments service directive 2 and other banking standards for Electronic Money Institutions (EMIs) and banks across the globe.

  • August 2021 – NCR Corporation partnered with Christian Financial Credit Union. NCR Corporation provides modern and comprehensive digital banking platform that offers card controls and alerts, money management solutions, and credit monitoring tools for its members.





  • Ongoing
  • 2023
  • 2019-2022
  • Pre Book
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Information & Technology Clients
Go daddy
Google
Sony
Hitachi
Softbank
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X