Global Digital Banking Platform Market Share 2024, Forecast To 2033
19 Feb, 2024
The digital banking platform market has witnessed rapid growth, escalating from $6.68 billion in 2023 to $7.49 billion in 2024, achieving a 12.0% CAGR. This growth is attributed to the rise of internet and mobile devices, evolving customer expectations, regulatory changes, security enhancements, cost reduction, efficiency, and the impact of the pandemic on remote banking. The market is expected to experience rapid growth, reaching $12.49 billion in 2028, driven by digital transformation investments, collaboration with fintech startups, global expansion, market competition, AI-powered insights and analytics, and a focus on data security and privacy. Major trends include data-driven decision-making, remote and digital onboarding, sustainability, green banking, and ecosystem expansion.
Global Digital Banking Platform Market Key Driver
The shift in trend from traditional banking to online banking is expected to drive the growth of the digital banking platform market. The fintech market in India is projected to reach Rs. 6.2 trillion (USD 83.42 billion) by 2025, according to India Brand Equity Foundation. This shift toward online banking contributes to the growth of the digital banking platform market.
Get A Free Sample Of The Global Digital Banking Platform Market ReportGlobal Digital Banking Platform Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the digital banking platforms market in 2023. 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
Major Digital Banking Platform Industry Players
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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Digital Banking Platform Market Overview
A digital banking platform refers to financial services that enable a bank to begin the transformational process of becoming a truly digital bank that is ecosystem-centric. The digital banking platform is used by the banks to adapt and optimize enhanced technologically advanced services delivered via mobile phones, laptops, smart TVs, desktop computers, and other devices.
Digital Banking Platform Global Market Report 2023 provides data on the global digital banking platform market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The digital banking platform market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.