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Digital Banking Platforms Market by Banking Type, Banking Mode, Deployment Type And Region - Global Forecast to 2023

Digital Banking Platforms Market: Global Forecast until 2023

  • November 2018
  • 112 pages
  • ID: 5620909
In this report:
The market size of the digital banking platforms market by deployment type is expected to grow from USD ##,##.## million in 2018 to USD ##,##.## million by 2023, at a CAGR of ##.##% during the forecast period.
The digital banking platforms market size is expected to grow from USD ##,##.## million in 2018 to USD ##,##.## million by 2023, at a Compound Annual Growth Rate (CAGR) of ##.##% during the forecast period.

Summary

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The digital banking platform market is estimated to rise at a compound annual growth rate of 11.20 percent from 2018 to 2023

The digital banking platforms market is forecasted to grow from $3.30B in 2018 to $5.70B by 2023, at a Compound Annual Increase rate of 11.20 percent during the forecast period. The increasing demand among banks to deliver enhanced customer experience, the growing adoption of cloud-based platforms to obtain higher scalability, and the growing adoption of smartphones and tablets are forecast to steer the increase of the digital banking platforms market. The main factor that restricts the market increase is the difficulty in integrating digital banking platforms with legacy systems.

Established on banking types, the retail banking segment is forecasted to account for the main market size during the outlook period

The retail banking segment is expected to dominate the digital banking platforms market in 2018.Retail banking has emerged as an essential enabler in the digital banking platforms market to translate banking models across the world.

The digital revolution has led to a disrupted marketplace with changing customer behaviors and expectations, emerging competitors, and innovative technologies. With the rising number of channels, financial institutions are changing their operating processes to offer clients with premium services and improve their account management.

Established on banking modes, the mobile banking segment is anticipated to rise at a better compound annual growth rate during forecast horizon

Established on banking modes, the mobile banking segment is anticipated to grow at a better compound annual growth rate during projection period.Mobile banking platforms offer a responsive User Interface and support the bank customers' entire banking journey, right from onboarding to transactional banking requests, on their mobile devices.

Banks are quickly adopting mobile banking platforms, according to their changing preference toward mobile banking.

North America (NA) is anticipated to lead the digital banking platforms market in 2018

The North American area is forecast to lead the digital banking platforms market in 2018.The USA and Canada (CA) are the top countries considered for the North American market analysis.

These countries have a main dominance, with sustainable and well-established economies, which empower them to strongly invest in Research&development activities, thereby contributing to the development of new technologies in the digital banking platforms market.

Breakdown of profiles of primary members taking part:

• By Company category: Tier 1 - 20.0 percent, Tier 2 - 42.0 percent, and Tier 3 - 38.0 percent

• By Description: C-suite - 55.0 percent, and D-level - 38.0 percent, and Others - 7.0 percent,

• By Area: North America continent - 35.0 percent, EU - 25.0 percent, Asia Pacific (APAC) - 17.0 percent, and rest of the world - 23.0 percent

Top players operating in the digital banking platforms market contain Appway, Backbase, CREALOGIX, ebanklT, EdgeVerve, Intellect Design Arena, Finastra, ieDigital, ETRONIKA, Fidor, Fiserv, Halcom, NETinfo, Kony, NF Innova, Oracle Corporation (NYSE:ORCL), SAB, SAP, Sopra, Tagit, TCS, Technisys, Temenos, BNY Mellon, and Worldline.

Research coverage

This research study includes the segmentation of the digital banking platforms market by banking type, banking mode, deployment type, and area.These segments are mapped across several areas, like North America, Europe (EU), Asia-Pac, Middle East (ME) and African continent, and Latin America area.

The study offers detailed market intelligence concerning the main key factors, including drivers, possibilities, and opportunities influencing the increase of the digital banking platforms market across the world. It also provides an review of the micromarkets with respect to individual developments trends, prospects, and their contribution to the global digital banking platforms market.

Why acquiring this study can help you:

From an insight prospect, the digital banking platforms market report highlights on several levels of analysis - market share review of the top actors and company descriptions, which together comprises and discusses basic views on the competitive landscape; the emerging and high-growth segments of the digital banking platform market; and the high-growth regions and their respective drivers, market restraints, opportunities, and alternatives.

The market research is anticipated to enrich both established companies as well as new entrants/smaller companies to measure the pulse of the sector, which, in turn, could help the organizations in garnering a greater market share.

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