According to new market research report “Digital Banking Platforms Market  by Component (Platforms and Services), Banking Type (Retail Banking, Corporate Banking, and Investment Banking), Banking Mode (Online Banking and Mobile Banking), Deployment Type, and Region – Global Forecast to 2026 published by MarketsandMarkets™, the Digital Banking Platforms Market size expected to grow USD 8.2 billion in 2021 to USD 13.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period.

The Digital Banking Platforms Market is gaining traction due to the increasing adoption of smartphones is contributing to the growth of the Digital Banking Platforms Market. Countries such as India, Indonesia, South Africa, and China have seen high growth in smartphone sales in the last few years. According to the GSM Association (GSMA) Mobile Economy 2020 report, there will be 7.1 billion smartphone connections by 2025 from 5.2 billion in 2019. The adoption rate would increase from 65% to 80% by 2025.

Browse in-depth TOC on “Digital Banking Platforms Market”
219- Tables
48- Figures
199- Pages

Download PDF@  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=90744083             

Corporate Banking segment to grow at the highest CAGR during the forecast period

Among the Banking Type segment, Corporate Banking is expected to grow at the highest CAGR during the forecast period. Corporate banking solutions provide banks and corporates with a seamless, connected corporate banking experience and a 360° view of the business. This results in integrating payments, treasury, lending, trade, and supply chain finance, benefiting both customers and corporates. Several organizations are incorporating corporate suites that provide superior features to corporate banks.

Mobile Banking segment is expected to grow at a higher CAGR during the forecast period

Mobile banking platforms offer an intuitive and secure mobile banking experience to retail and corporate banks. The platforms offer a responsive User Interface (UI) and support the bank customers’ entire banking journey, from onboarding to transactional banking requests, on their mobile devices. Banks are increasingly adopting the mobile banking platform due to the changing customer preference toward mobile banking across all segments. This helps drive the business growth of the mobile banking segment. This is substantiated by the 2018 Mobile Banking Study from Citi Bank. The study revealed that 46% of US consumers have increased their use of mobile banking in the past year. Furthermore, 91% preferred using apps over going to a branch, whereas 68% of millennials said they could see their smartphones replacing their physical wallets.

Request To Speak With Analyst @https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=90744083

Asia Pacific (APAC) region to record the highest growing region in the Digital Banking Platforms Market

The APAC countries have seen a rise in the number of FinTech startups, which has led to the disruption in the Digital Banking Platforms ecosystem. However, to keep up with this rapid pace of advancements, traditional banking firms are undertaking digital transformation projects. There is a huge untapped market for the banking industry in India, China, Bangladesh, and several other countries of APAC; this has proven to be a driver for the growth of banking firms in the region. Hence, this motivates bankers to adopt strategies for the digitalization of their services. With the rise in the number of mobile device users, there is also an increasing use of digital banking technologies and online commerce. These factors together are expected to fuel the growth of the Digital Banking Platforms Market in the region.

Key and innovative vendors in Digital Banking Platforms Market are Alkami (US), Apiture (US), Appway (Switzerland), Backbase (Netherlands), BNY Mellon (US), CR2 (Ireland), EdgeVerve (India), ebankIT (England), Finastra (UK), Fiserv (US), Intellect Design Arena (India), Mambu (Germany), MuleSoft (US), nCino (US), NCR (US), NETinfo (Cyprus), Oracle (US), SAP (Germany), Sopra Banking Software (France), TCS (India), Technisys (US), Temenos (Switzerland), TPS (Pakistan), Velmie (US), and Worldline (France).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/digital-banking-platforms.asp
Report: https://www.marketsandmarkets.com/Market-Reports/digital-banking-platforms-market-90744083.html