Digital Banking Platforms Market Introduction and Overview
According to SPER Market Research, the Global Digital Banking Platforms Market is estimated to reach USD 200.42 billion by 2033 with a CAGR of 20.98%.
The report includes an in-depth analysis of the Global Digital Banking Platforms Market, including market size and trends, product mix, distribution channels, and supplier analysis. Digital banking platforms are technical solutions that streamline and automate banking operations, allowing financial institutions to provide digital financial services and engage clients in seamless digital interactions. Individuals may check their account balances, execute transactions, and transfer funds with a single click on their digital devices thanks to these services. Adoption of digital banking platforms is especially common among the working class and elderly people since it reduces the need for physical travel and provides the convenience of carrying out banking operations from the comfort of their homes.
- Changing Customer Preferences: Customers are increasingly preferring the convenience and flexibility that digital banking platforms provide. As more individuals use online and mobile banking, financial institutions must provide comprehensive digital services to meet these evolving demands.
- Global Reach: Financial institutions can extend their services beyond geographical limits thanks to digital banking systems. Banks can now enter new markets and serve consumers who were previously inaccessible owing to physical branch limits.
Market Opportunities and ChallengesThe digital banking platform market offers a plethora of enticing options with the ability to change the financial environment. Meeting the changing demands and tastes of consumers, who increasingly seek seamless and personalized banking services, is one of the key opportunities. With the emergence of modern technologies such as artificial intelligence, machine learning, and blockchain, digital banking platforms can provide personalised financial solutions, real-time insights, and predictive analytics, hence increasing consumer engagement and loyalty.
The global Digital Banking Platforms market is facing rising security issues. The rising use of digital banking has caused enterprises to have serious worries about the secure management of consumer and financial data. As the Internet of Things (IoT) expands, enterprises will require more robust security and privacy precautions to prevent data breaches. Additionally, legacy System Integration is a barrier to the worldwide digital banking Platforms industry. Many traditional banks still rely on old systems and infrastructure, making smooth integration of digital banking platforms difficult. Overcoming technological obstacles and ensuring seamless integration with existing systems can be difficult and time-consuming tasks.
Market Competitive Landscape
The digital banking platform industry's market competitive landscape is defined by fierce rivalry and innovation among a varied range of competitors. Traditional financial institutions, such as established banks, are competing for a piece of the rising digital banking market with fintech startups, technological behemoths, and specialized software vendors. Alkami Technology Inc., Apiture, Appway AG, Backbase, BNY Mellon, CR2, EdgeVerve, ebankIT, Finastra these are some market key players.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Deployment Type, By Banking Type, By Banking Mode
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Alkami Technology Inc., Apiture, Appway AG, Backbase, BNY Mellon, CR2, EdgeVerve, ebankIT, Finastra, Fiserv Inc., Intellect Design Arena, Mambu, MuleSoft, nCino, NETinfo, Oracle Corporation, Sopra Banking Software, TCS, Technisys, Temenos, Velmie, Worldline
|
COVID-19 Impact on Global Digital Banking Platforms Market
The COVID-19 epidemic has led in greater use of digital banking services, as distant working and social distancing tactics have prompted a bigger consumer base to adopt digital banking. In North America, there has been a significant increase in the use of online banking compared to the pre-pandemic period. However, digital-only customers are nonetheless less satisfied than those who use physical branches. Financial regulators in the Asia-Pacific (APAC) region have actively encouraged financial institutions to pursue innovative business strategies, promoting the use of regulatory technology (regtech) and digital solutions as best practices throughout the pandemic. Furthermore, the growing use of online and mobile banking by end users during the pandemic has offered growth prospects for the digital banking platform industry.
Key Target Audience:
- Banks and Financial Institutions
- Consumers
- Enterprise Clients
- FinTech Companies
- Government and Regulatory Bodies
- Small and Medium-Sized Enterprises (SMEs)
Our in-depth analysis of the Digital Banking Platforms Market includes the following segments:
|
By Component:
|
Platform
Services
|
|
By Deployment Type:
|
Cloud
On-Premises
|
|
By Banking Type:
|
Corporate Banking
Investment Banking
Retail Banking
|
|
By Banking Mode:
|
Mobile Banking
Online Banking
|
Key Topics Covered in the Report:
- Global Digital Banking Platforms Market Size (FY’2023-FY’2033)
- Overview of Global Digital Banking Platforms Market
- Segmentation of Global Digital Banking Platforms Market By Component (Platform, Services)
- Segmentation of Global Digital Banking Platforms Market By Deployment Type (Cloud, On-premises)
- Segmentation of Global Digital Banking Platforms Market By Banking Type (Corporate Banking, Investment Banking, Retail Banking)
- Segmentation of Global Digital Banking Platforms Market By Banking Mode (Mobile Banking, Online Banking)
- Statistical view of Global Digital Banking Platforms Market
- Expansion Analysis of Global Digital Banking Platforms Market
- Problems and Obstacles in Global Digital Banking Platforms Market
- Competitive Landscape in the Global Digital Banking Platforms Market
- Impact of COVID-19 and Demonetization on Global Digital Banking Platforms Market
- Details on Current Investment in Global Digital Banking Platforms Market
- Competitive Landscape of Global Digital Banking Platforms Market
- Key Market Players in the Global Digital Banking Platforms Market
- SWOT Analysis of Global Digital Banking Platforms Market
- Global Digital Banking Platforms Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Digital Banking Platforms Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Digital Banking Platforms Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Digital Banking Platforms Market
7. Global Digital Banking Platforms Market, By Component (USD Million)
7.1. Global Digital Banking Platforms Market Value Share and Forecast, By Component, 2023-2033
7.2. Platform
7.3. Services
7.3.1. Managed Services
7.3.2. Professional Services
8. Global Digital Banking Platforms Market, By Deployment Type (USD Million)
8.1. Global Digital Banking Platforms Market Value Share and Forecast, By Deployment Type, 2023-2033
8.2. Cloud
8.3. On-Premises
9. Global Digital Banking Platforms Market, By Banking Type (USD Million)
9.1. Global Digital Banking Platforms Market Value Share and Forecast, By Banking Type, 2023-2033
9.2. Corporate Banking
9.3. Investment Banking
9.4. Retail Banking
10. Global Digital Banking Platforms Market, By Banking Mode (USD Million)
10.1. Global Digital Banking Platforms Market Value Share and Forecast, By Banking Mode, 2023-2033
10.2. Mobile Banking
10.3. Online Banking
11. Global Digital Banking Platforms Market Forecast, 2019-2033 (USD Million)
11.1. Global Digital Banking Platforms Market Size and Market Share
12. Global Digital Banking Platforms Market, By Component , 2019-2033 (USD Million)
12.1. Global Digital Banking Platforms Market Size and Market Share By Component (2019-2026)
12.2. Global Digital Banking Platforms Market Size and Market Share By Component (2027-2033)
13. Global Digital Banking Platforms Market, By Deployment Type, 2019-2033 (USD Million)
13.1. Global Digital Banking Platforms Market Size and Market Share By Deployment Type (2019-2026)
13.2. Global Digital Banking Platforms Market Size and Market Share By Deployment Type (2027-2033)
14. Global Digital Banking Platforms Market, By Banking Type, 2019-2033 (USD Million)
14.1. Global Digital Banking Platforms Market Size and Market Share By Banking Type (2019-2026)
14.2. Global Digital Banking Platforms Market Size and Market Share By Banking Type (2027-2033)
15. Global Digital Banking Platforms Market, By Banking Mode, 2019-2033 (USD Million)
15.1. Global Digital Banking Platforms Market Size and Market Share By Banking Mode (2019-2026)
15.2. Global Digital Banking Platforms Market Size and Market Share By Banking Mode (2027-2033)
16. Global Digital Banking Platforms Market, By Region, 2019-2033 (USD Million)
16.1. Global Digital Banking Platforms Market Size and Market Share By Region (2019-2026)
16.2. Global Digital Banking Platforms Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Alkami Technology Inc.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Apiture
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Appway AG
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Backbase
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. BNY Mellon
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. CR2
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. EdgeVerve
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. ebankIT
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Finastra
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Fiserv Inc.
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Intellect Design Arena
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Mambu
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. MuleSoft
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
