Digital Banking Platform Market is projected to grow from US$ 4.0 billion in 2020 to US$ 12.1 billion by 2029. Increasing demand for digital banking platform among banks to deliver enhanced customer experience drives the global digital banking platform market. In addition, rising adoption of cloud-based platforms to obtain higher scalability is fueling the global digital banking platform market.
The report "Global Digital Banking Platform Market, By Banking Type (Retail Banking and Corporate Banking), By Banking Mode (Online Banking and Mobile Banking), By Deployment Type (On-premises and Cloud), and Region - Global Forecast to 2029"
Key Market Insights from the report:
The global digital banking platform market accounted for US$ 4.0 billion in 2020 and is projected to register a moderate CAGR of 13.1% over the forecast period. The market report has been segmented on the basis of banking types, banking mode, deployment type, and region.
• By banking type, the retail banking segment is accounted for major share in the global digital platform market. This is attributed to increasing number of channels, financial institutions are changing their operating processes to provide customers with premium services and improve their account management.
• By banking mode, the online banking is dominated in the global digital banking platform market. This is owing to online banking is able to facilitate banks to offer banking services to end-users over the internet and also requires high level of process automation, web-based services, and Application Programming Interfaces (APIs).
• By deployment type, the cloud deployment type segment is hold major share in the global digital banking platform market. This due to digital banking platform market tools offer several benefits, such as the rapid implementation of tools, reduced set up and operational costs, less maintenance costs, security, and ease of use.
• By region, North America digital banking platform is expected to account for major share in terms of revenue in the global digital banking platform market over the forecast period. This can be attributed to increasing use of digital banking platforms, coupled with growing adoption of new technologies and innovation in countries of the region. Asia Pacific digital banking platform is expected to account for fastest growing region in the target market in the near future.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Global Digital Banking Platform Market”, By Banking Type (Retail Banking and Corporate Banking), By Banking Mode (Online Banking and Mobile Banking), By Deployment Type (On-premises and Cloud), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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The prominent player operating in the global digital banking platform market include Appway AG, Backbase, Inc., CREALOGIX AG, Infosys Limited, Intellect Design Arena, Finastra Technology Inc, ETRONIKA, UAB, Groupe BPCE, Fiserv, Inc, and Kony, Inc.
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