Digital Banking Solution Market Scope
Digital banking solutions allow banks to provide flexible and convenient management of customer’s finances. It provides services in all devices which reduce the development and maintenance costs. Digital banking solution offers various services such as cost optimization, real time interaction, personalized customer experience, and new revenue streams. Moreover, the solution can help to meet increasing customer demand, growing regulations, new banking competition and reduce costs pressures. These factors are increasing the market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), SAP (Germany), Urban FT (United States), Kony (United States), Backbase (Netherlands), Technisys (United States), Infosys (India), Innofis (Spain), Mobilearth (United States) and D3 Banking Technology (United States) |
CAGR | % |
the technology benchmarking of digital banking platforms comes into play, offering financial institutions a way to measure their performance of the digital banking platforms against industry best practices and identify growth opportunities. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Digital Banking Solution market throughout the predicted period.
IBM (United States), SAP (Germany), Urban FT (United States), Kony (United States), Backbase (Netherlands), Technisys (United States), Infosys (India), Innofis (Spain), Mobilearth (United States) and D3 Banking Technology (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Alkami (United States), Q2 (United States) and Finastra (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Digital Banking Solution market by Type , by Application (Retail Digital Banking, SME Digital Banking and Corporate Digital Banking) and Region with country level break-up.
On the basis of geography, the market of Digital Banking Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
London, March 9, 2023 – FintechOS, a leader in fintech enablement, is to collaborate with PwC to support its new digital banking solution: Infinite Financial Solutions for Banking. Powered by Microsoft’s Cloud for Financial Services and leveraging FintechOS’s technology platform, the solution enables financial institutions to accelerate digital transformation and elevate customer experience in a cost-effective way.
In August 2020 Urban FT Group, Inc., one of the most progressive and successful FinTech companies serving the Banking and Payments industry, announced today the launch of the X-35 FinTech Core™, an API-first, developer-friendly, and cloud-based technology hub that sits alongside of, and is connected to, a Financial Institutions (FI’s) existing Banking Core or Payment Processor.
Influencing Trend:
Adoption of Electronic and Mobile Payment Solutions
Market Growth Drivers:
Change in Customer Behavior is Fueling the Market and Rising Investments in Fintech is affecting the Market Positively
Challenges:
Technical Issues May Hamper the Market
Restraints:
Increased Risk of Data Breach and Lack of Regulatory Framework
Opportunities:
Supporting Government Policies is Boosting the Market Growth and Growing E Commerce Industry
Key Target Audience
Digital banking service providers, Government associations, Research organizations, Enterprise software vendors and Others