Synopsis of Digital Banking Market
Market Overview and Drivers
The Global Market of Digital Banking around the world is growing rapidly. The Global Digital Banking Market is majorly driven by factors such as easy access, convenience, fast and efficient operation among others. High technology proliferation and support heavy investment by the companies operating in the technology service are helping in the development of efficient cashless system. Many banks around the world are adopting cashless policies for various areas such as payments, transfers among other things. Increasing use of internet and smartphones to do the banking transaction are result of digital banking which makes the task easy and more transparent.
Market Research Future published a Half Cooked Research Report on Digital Banking Market that contains information from 2016 to 2022. The Digital Banking Market is expected to grow at CAGR of around 8% between years 2016 to 2022.
Digital Banking is also helping the banking system in the management of records, data and retrieval of them. One of the major trends in this field is adoption of cloud for the management of data and use of it. Going digital helps the banks to monitor the each and every customer’s details and records more easily. Communication with customers for any announcement and revive feedback have become easy because of digital banking.
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Whereas factors such as need of technical knowledge, growing security proliferation in BFIS industry among others are some of the restraints which is expected to slow the growth of overall market.
The prominent players in the Digital Banking Market includes- 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.
Access the market data and market information presented through more than 40 market data tables and 25 figures spread over 110 numbers of pages of the project report “Global Digital Banking Market Research Report- Forecast to 2022”
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Market Research Future Analysis:
Market Research Future analysis shows that the global market of digital banking is estimated to grow at compound annual growth rate of ~8 % between forecast years. High adoption of cloud based services by the major banks around the world and increasing the number of internet and mobile phone consumers are playing role of major growth factor. In the regional market, North America is leading the market due to the high growth of on cloud adoption in banking and other BFSI industries. Also presence of technology and service providers in U.S. and Canada is giving competitive advantage to North America. Europe and Asia-Pacific digital banking market is expected to grow rapidly due to the green initiative by the government and owing to high number of smartphone users in this region.
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