Digital Banking Market 2018- Competitive Landscape, Strategies, Share, Trends, Segmentation and Grow

Digital banking is a concept which allows the banks and their customers to do the end-to-end processing of banking transactions, operation and activities seamlessly. Technology proliferation in various parts of banking system and arrival of smartphone is helping the bankers to move their traditional banking system to modern. Easy availability, maximum utility and low cost are some of the important factor for the high adoption of Digital Banking Market in current environment. Moreover, banks are constantly adapting new applications to satisfy the needs of their customers by providing services like ATM, internet banking, mobile banking, SMS banking among others. In recent study, it has been identified as high usage of digital devices in management, growing market of smartphones and tablets, growing demand for security and growing cloud-based solution are some major key trends in the market of digital banking whereas factor such as lack of illiteracy among old population and lack of internet infrastructure in various countries are some of the major restrains which is expected to slow the growth of market.

The global Digital Banking market is expected to grow at CAGR of around 8% between years 2016 to 2022.

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Key Players

The major player operating in the market of Global Digital Banking are- Urban FT, Inc. (U.S.), Misys (U.K.), Kony, Inc. (U.S.), Backbase (Netherlands), Technisys (Subsidiary of FMC Technologies) (U.S), Infosys (Bangalore), Cachet Financial Solutions, Inc. (U.S), Innofis (Spain), Mobilearth (Canada), among other

The other players operating in this market are- Nymbus, NLS Banking, IDEALINVENT Technologies, Capital Banking Solutions and among others.

Segments:

The Digital banking markets has been segmented on the basis of deployment, services, Technology, and industry. By deployment the market has been segmented as- On cloud and On- premises. The services includes Non-transactional activities, transactional among others. On the basis of technology includes- mobile banking, internet banking, digital payments whereas on the basis of industries, the market includes- retail, banking, manufacturing, media & entertainment, and healthcare among others.

Regional Analysis

Global digital banking market is growing rapidly owing to the factors such as increasing internet and smartphone users. Currently, North America is dominating the market of digital banking. High density of smartphone users and technologically advanced countries such as U.S. and Canada gives North America a competitive advantage over the other regions. Europe stands as second biggest revenue generator in this market. Rich financial sector of U.K., France and Germany among other countries are the major contributor in the growth of digital banking in Europe region. Also, high literacy rate and knowledge towards internet and mobile application are some of the factor which is supporting the market of digital banking in Europe. Asia-Pacific has emerged as fastest growing market due to the growing economy of India, China among other countries, and green earth initiatives. Also the government of these countries is also helping the market by adopting new policies regarding digital economy.

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