Digital Banking Platform Market Size 2023: Global Share, Trends, Growth Analysis and Forecast by 2028

How big is the Digital Banking Platform Market?

The global digital banking platform market size reached US$ 5.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 12.5% during 2023-2028.

Industry Overview of Digital Banking Platform Market

The digital banking platform represents a transformative leap in the world of finance, reshaping how individuals and businesses interact with their money. It encompasses a range of technologies and services that enable financial institutions to provide seamless, secure, and personalized banking experiences to their customers through digital channels. It also enables individuals to perform a wide range of transactions, such as checking account balances, transferring funds, paying bills, applying for loans, and managing investments, all from the comfort of their electronic devices. It also offers personalized insights, tailored product recommendations, and real-time notifications, empowering customers to manage their finances efficiently and make informed decisions.

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Digital Banking Platform Market Trends and Drivers:

At present, the increasing demand for digital banking platforms, as they provide the convenience of managing finances on the go, enabling quick and secure transactions anytime and anywhere, represents one of the primary factors supporting the growth of the market. Besides this, the rising popularity of digital banking platforms, as they play a crucial role in promoting financial inclusion by reaching underserved populations, is contributing to the growth of the market. In addition, the growing utilization of big data and analytics to examine customer behavior and preferences is offering a favorable market outlook. Apart from this, the increasing utilization of smartphones, tablets, and laptops to make online payments and browse the internet is bolstering the growth of the market.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Component:
• Solutions
• Services

Breakup by Type:
• Retail Banking
• Corporate Banking

Breakup by Deployment Mode:
• On-premises
• Cloud-based

Breakup by Banking Mode:
• Online Banking
• Mobile Banking

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Who Are The Key Players/Companies In Home Medical Equipment Market?

Appway AG (FNZ (UK) Ltd.), Fidelity Information Services (FIS), Finastra Limited, Fiserv Inc., Infosys Limited, nCino, NCR Corporation, Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Temenos AG, The Bank of New York Mellon Corporation and Worldline.

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This release was published on openPR.