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Online Banking Market Expected to Grow at a CAGR of 22.6% By 2023 | ACI ,Microsoft ,Fiserv,Cor Financial ,Tata Consultancy,Oracle

07-01-2019 02:54 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Premium Market Insights

Online Banking Market

Online Banking Market

The Online Banking Market size is expected to reach $29,976 million in 2023 from $7,305 million in 2016, growing at a CAGR of 22.6% from 2017 to 2023. Digital banking includes all kinds of online/internet transactions done for various purposes. It is the incorporation of new technologies, to deliver enhanced customer services.
Customer convenience, higher interest rates, and technologically advanced interface majorly drive the market. High security risk of customer’s data hinders the market growth. Growth in smartphone usage, increase in internet penetration among consumers, and increasing technology and growth of developing economies in Asia-Pacific region are some of the key factors, which are fueling the market growth.

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The global online banking market is segmented on the basis of banking type, service type, and geography. Based on banking type, it is classified into retail banking, corporate banking, and investment banking. Based on solution type, it is divided into payments, processing services, customer & channel management, risk Management, and others. Geographically, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Netherland, France, UK, Sweden, and rest of Europe), Asia-Pacific (South Korea, Australia, Singapore, China, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle-East, and Africa). Key players profiled in the report include ACI Worldwide (U.S.), Microsoft Corporation (U.S.), Fiserv, Inc. (U.S.), Tata Consultancy Services (India), Cor Financial Solutions Ltd. (UK), Oracle Corporation (U.S.), Temenos Group AG (Switzerland), Rockall Technologies (Ireland), EdgeVerve Systems Limited (India), and Capital Banking Solutions (U.S.)

Top Impacting Factors
Customer Convenience and Better Rates of Interest
Online banking includes banking and financial services, mobile phones, social media, and internet providers. Actual account balances and other information are available at the touch of a few buttons. This makes banking faster, easier, efficient, and more effective because consumers are able to stay up to date with their account balances. Less bank staff, no cost of significant infrastructure, and overhead costs allow online banking portals to pay higher interest rates on savings and charge lower mortgage and loan rates.

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Table of Contents:a
Chapter: 1 INTRODUCTION
Chapter: 2 EXECUTIVE SUMMARY
Chapter: 3 MARKET OVERVIEW
Chapter: 4 GLOBAL ONLINE BANKING MARKET BY BANKING TYPE
Chapter: 5 GLOBAL ONLINE BANKING MARKET BY SOLUTION TYPE
Chapter: 6 ONLINE BANKING MARKET BY GEOGRAPHY
Chapter: 7 RELATED INDUSTRY INSIGHTS
Chapter: 8 COMPANY PROFILES

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Email: sales@premiummarketinsights.com
Organization: Premium Market Insights
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