Global Online and Mobile Banking Market Overview:
Online and mobile banking are the facilities provided by the banking sector to operate and carry out almost all the transactions through an internet platform or mobile which can be done with the internet. With the growing digitalization, people are around the world are more available on smartphones and the internet than any other place, this has driven technology towards the banking sector, and most importantly it helps banking systems to offer productivity and on the go needed services anywhere at any time and on any device.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | The American Express Company (United States), Bank of America Corporation (United States), BNP Paribas S.A. (France), Citigroup Inc. (United States), JPMorgan Chase & Co. (United States), Credit Agricole Group (France), HSBC Holdings plc (United Kingdom), Wells Fargo & Company (United States) and Navy Federal Credit Union (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Growing Digitalization in Baking Sector
- Demand for Automating the Transaction and all Operations for Better Productivity, Efficiency, and Service to Consumers
Roadblocks
- Risk Related to Cyber Attacks and Malware
Opportunities
- Increasing Awareness about the Benefits of Online and Mobile Banking Among Consumers
Challenges
- Technical Errors Associated with the Online and Mobile Banking
Competitive Landscape:
Some of the key players profiled in the report are The American Express Company (United States), Bank of America Corporation (United States), BNP Paribas S.A. (France), Citigroup Inc. (United States), JPMorgan Chase & Co. (United States), Credit Agricole Group (France), HSBC Holdings plc (United Kingdom), Wells Fargo & Company (United States) and Navy Federal Credit Union (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Online and Mobile Banking market by 2027. Considering Market by Transaction, the sub-segment i.e. Consumer-to-consumer will boost the Online and Mobile Banking market. Considering Market by Platform, the sub-segment i.e. Android will boost the Online and Mobile Banking market. Considering Market by Deployment, the sub-segment i.e. Cloud-based will boost the Online and Mobile Banking market. Considering Market by Service, the sub-segment i.e. Informational Services will boost the Online and Mobile Banking market.
On 24th October 2019, Bank of America announced the launch of its newly designed, mobile banking app that provides a more seamless and streamlined experience for its approximately 29 million mobile clients. The sleek, modern design makes it even easier to navigate all of Bank of America’s robust mobile banking features. The latest version of the app also includes enhancements to Erica, the bank’s AI-driven virtual financial assistant, designed to help clients better manage their finances.
What Can be Explored with the Online and Mobile Banking Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Online and Mobile Banking Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Online and Mobile Banking
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online and Mobile Banking market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online and Mobile Banking market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Online and Mobile Banking Platform Developers, Online and Mobile Banking Industry Association, Research and Development Institutes, Regulatory Bodies, BFSI Sector and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.