Digital Banking Platforms Market Research Report Restraints, Industry Outlook & Key Players Analysis By 2032

Increasing penetration of advanced technologies in communication and internet connectivity is a major factor driving digital banking platforms market revenue

VANCOUVER, BRITISH COLUMBIA, CANADA, August 5, 2024 /EINPresswire.com/ -- The global digital banking platforms market size was USD 9.14 Billion in 2022 and is expected to register a revenue CAGR of 11.5% during the forecast period, according to latest analysis by Emergen Research. Increasing penetration of advanced technologies especially in communication and Internet is one of the major factors driving the market revenue growth. Clients benefit from flexibility, accessibility, and control that digital banks provide, but mostly, they are always available. Digital bank accounts provide Federal Deposit Insurance Corporation (FDIC) protection, free verification, and are extremely versatile. Growing number of mergers & acquisitions is another factor contributing to revenue growth of the market. On 13 June 2023, U.S. banking and paytech giant FIS has acquired Banking-as-a-Service (BaaS) start-up Bond for an undisclosed sum.

The Digital Banking Platforms study sheds light on industry profiles across several countries and regions. The extensive document is a rich source of information on market size, share and growth rate. The industry profiles discussed in the Digital Banking Platforms report further identifies market segmentation, profit, and competitive landscape and offers forecast information on industry performance and trends for the period. The detailed report offers comprehensive analyses about a particular market situation within a geographic region.

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Market Dynamics:

The report offers insightful information about the market dynamics of the Digital Banking Platforms market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Digital Banking Platforms market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Digital Banking Platforms market.

The report also discusses the key players involved in the market such as

The Bank of New York Mellon Corporation, Alkami Technology, Inc., Apiture, Fiserv, Inc., Finastra, Salesforce, Inc., ebankIT, Oracle, Sopra Banking Software, and nCino.

Some Key Highlights From the Report

The platforms segment is expected to register highest revenue CAGR over the forecast period. Digital banking platforms provide options that are same for everyone, but are highly individualized after logging in. Digital banking platforms oversee digitalization of a wide range of banking products, including commercial accounts, retail accounts, back-office functions, and more. Banks rely on digital banking systems to provide a diverse range of financial products through a variety of digital channels, reaching clients where they live and work.

The cloud segment is expected to register a significantly fast revenue growth rate over the forecast period. Cloud technology has potential to alter digital banking services, making them easier and more convenient for users. With automated provisioning, consistent policy enforcement, and traffic monitoring, it can also assist digital businesses satisfy their stringent service duties more effectively.

The retail banking segment is expected to register a significantly fast revenue growth rate over the forecast period. With digital transformation firmly established in banking industry, the future of retail banking will be defined primarily by innovations and all-digital product delivery. To remain competitive, banks are increasingly embracing the BaaS model. The retail banking sector is expected to profit greatly from BaaS digital platforms because they will enable financial institutions to grow size, diversify income sources through the creation of new goods and services, and provide a better client experience.

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Emergen Research has segmented the global digital banking platforms market on the basis of component, deployment, banking type, mode, and region:

Component Outlook (Revenue, USD Billion; 2019-2032)

Services

Platforms

Deployment Outlook (Revenue, USD Billion; 2019-2032)

On-premise

Cloud

Banking Type Outlook (Revenue, USD Billion; 2019-2032)

Corporate banking

Retail banking

Investment banking

Mode Outlook (Revenue, USD Billion; 2019-2032)

Mobile

Online

Regional Analysis of the Digital Banking Platforms Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Radical Highlights of the Digital Banking Platforms Market Report:

Comprehensive overview of the Digital Banking Platforms market along with analysis of the changing dynamics of the market

Growth Assessment of various market segments throughout the forecast period

Regional and global analysis of the market players, including their market share and global position

Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market

Impact of the technological developments and R&D advancements on the Digital Banking Platforms market

Information about profit-making strategies and developmental strategies of major companies and manufacturers

Insightful information for the new entrants willing to enter the market

Details and insights about business expansion strategies, product launches, and other collaborations

The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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