Global Digital Banking Platforms Market

Posted by Mayuri Kathade. on January 18th, 2021

Global Digital Banking Platforms Market was valued at US$ 2.26Bn in 2019 and is expected to reach US$ 6.2Bn by 2027, at a CAGR of 13.45% during a forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

The growing demand among banks to deliver improved customer experience, increasing implementation of cloud-based platforms to obtain higher scalability, the rising implementation of smartphones and tablets, and the growing demand for streamlining business processes are some of the most significant factors contributing to the growth of the global digital banking platforms market.

Based on the banking mode segment,retail banking has emerged as an important enabler in the market in translating the banking models across the globe. Digital revolution has led to a disrupted marketplace, along with the changing customer behavior and expectations, emerging competitors, and innovative technologies. The segment is expected to lead the market during the forecast period, owing to the need to meet retail customers’ elevated expectations of personalization and align these expectations in line with the growing multiplication of channels.

On the basis of Deployment Type segment, the cloud segment is projected to grow at a higher CAGR during the forecast period. The cloud deployment type has become a cost-effective and efficient way to handle all operational processes of insurers, along with data management and governance issues. Cloud-based digital banking platform tools offer several benefits, like the rapid implementation of tools, reduced set up and operational costs, less maintenance costs, 24/7 data accessibility, security, and ease of use.

In terms of region, the North American is estimated to hold the largest market for global digital banking platforms in 2026. The early implementation of technologies and the high focus on innovation in the region are leading to the growth of the market in North America. Furthermore, the increasing use of global digital banking platforms in countries, like the US and Canada, is driving the growth of the market in the North American region.

The report offers a complete evaluation of the market. It does so via in-depth qualitative comprehensions, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and expectations. By doing so, the research report serves as a repository of analysis and information for every facet of the market, counting but not limited to Regional markets, technology, types, and applications.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Digital Banking Platforms Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Digital Banking Platforms Market.
Scope of Digital Banking Platforms Market

Global Digital Banking Platforms Market, by Banking Mode

• Online Banking
• Mobile Banking
Global Digital Banking Platforms Market, by Deployment Type

• On-Premises
• Cloud
Global Digital Banking Platforms Market, by Banking Type

• Retail Banking
• Corporate Banking
Global Digital Banking Platforms Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Digital Banking Platforms Market

• Backbase
• EdgeVerve Systems
• Temenos
• Finastra
• Appway
• NETinfo
• Worldline
• BNY Mellon
• Oracle
• Sopra
• Fiserv
• Intellect Design Arena
• NF Innova
• Halcom D.D
• TagitPte Ltd
• Fidor

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Mayuri Kathade.

About the Author

Mayuri Kathade.
Joined: August 26th, 2019
Articles Posted: 146

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