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Digital Banking Platforms Market to 2023 by Banking Type (Retail Banking and Corporate Banking), Banking Mode (Online Banking and Mobile Banking) & Deployment Type (On-Premises and Cloud) - ResearchAndMarkets.com

November 14, 2018

DUBLIN--(BUSINESS WIRE)--Nov 14, 2018--The “Digital Banking Platforms Market by Banking Type (Retail Banking and Corporate Banking), Banking Mode (Online Banking and Mobile Banking), Deployment Type (On-Premises and Cloud), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The digital banking platforms market is projected to grow from USD 3.3 billion in 2018 to USD 5.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period.

The growing demand among banks to deliver enhanced customer experience, the increasing adoption of cloud-based platforms to obtain higher scalability, and the rising adoption of smartphones and tablets are expected to drive the growth of the digital banking platforms market.

The major factor that restricts the market growth is the difficulty in integrating digital banking platforms with legacy systems.

Based on banking types, the retail banking segment is expected to account for the major market size during the forecast period

The retail banking segment is estimated to dominate the digital banking platforms market in 2018. Retail banking has emerged as an essential enabler in the digital banking platforms market to translate banking models across the globe. The digital revolution has led to a disrupted marketplace with changing customer behaviors and expectations, emerging competitors, and innovative technologies. With the increasing number of channels, financial institutions are changing their operating processes to provide customers with premium services and improve their account management.

Based on banking modes, the mobile banking segment is expected to grow at a higher CAGR during the forecast period

Based on banking modes, the mobile banking segment is expected to grow at a higher CAGR during the forecast period. Mobile banking platforms offer a responsive User Interface (UI) and support the bank customers’ entire banking journey, right from onboarding to transactional banking requests, on their mobile devices. Banks are rapidly adopting mobile banking platforms, owing to their changing preference toward mobile banking.

North America is expected to lead the digital banking platforms market in 2018

The North American region is expected to lead the digital banking platforms market in 2018. The US and Canada are the key countries considered for the North American market analysis. These countries have a major dominance, with sustainable and well-established economies, which empower them to strongly invest in R&D activities, thereby contributing to the development of new technologies in the digital banking platforms market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the Digital Banking Platforms Market

4.2 Digital Banking Platforms Market, By Banking Type, 2018-2023

4.3 Digital Banking Platforms Market, By Banking Mode, 2018-2023

4.4 Digital Banking Platforms Market, By Deployment Type, 2018-2023

4.5 Market Investment Scenario

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Growing Demand Among Banks to Deliver Enhanced Customer Experience

5.2.1.2 Increasing Adoption of Cloud-Based Platforms to Obtain Higher Scalability

5.2.1.3 Rising Adoption of Smartphones and Tablets

5.2.1.4 Increasing Demand for Streamlining Business Processes

5.2.2 Restraints

5.2.2.1 Difficulty in Integrating Digital Banking Platforms With Legacy Systems

5.2.3 Opportunities

5.2.3.1 Recent Advancements in AI

5.2.3.2 Increased Cross-Selling and Upselling

5.2.3.3 Growing Need to Meet the Compliance Requirements of New Data Laws and Regulations

5.2.4 Challenges

5.2.4.1 Increasing Security Concerns

5.3 Opportunities for the Digital Banking Platform Providers

5.4 Industry Trends

5.4.1 Use Case 1: Backbase

5.4.2 Use Case 2: Appway

5.4.3 Use Case 3: Finastra

6 Digital Banking Platforms Market, By Banking Type

6.1 Introduction

6.2 Retail Banking

6.2.1 Increased Demand for Offering Enhanced Customer Services to Retail Consumers to Boost the Growth of the Retail Banking Type

6.3 Corporate Banking

6.3.1 Increased Need for A Digital Banking Platform to Boost the Growth of the Corporate Banking Type

7 Digital Banking Platforms Market, By Banking Mode

7.1 Introduction

7.2 Online Banking

7.2.1 Increased Usage of Internet Via the Web-Based Mode to Boost the Growth of Online Banking

7.3 Mobile Banking

7.3.1 Increasing Usage of Mobile Devices to Access Banking Services to Boost the Growth of Mobile Banking

8 Digital Banking Platforms Market, By Deployment Type

8.1 Introduction

8.2 On-Premises

8.2.1 Growing Security Concerns to Boost the Demand of On-Premises Deployment of Digital Banking Platforms

8.3 Cloud

8.3.1 Cost-Effectiveness of the Cloud-Based Deployment Type to Boost the Growth of Digital Banking Platforms

9 Digital Banking Platforms Market, By Region

10 Competitive Landscape

10.1 Overview

10.2 Market Ranking Analysis for the Digital Banking Platforms Market

10.3 Competitive Scenario

10.3.1 New Service/Product Launches

10.3.2 Business Expansions

10.3.3 Mergers and Acquisitions

10.3.4 Agreements, Collaborations, and Partnerships

11 Company Profiles

Appway Backbase BNY Mellon CREALOGIX ebanklT EdgeVerve Systems ETRONIKA Fidor Finastra Fiserv Halcom D.D. ieDigital Intellect Design Arena Kony NETinfo NF Innova Oracle SAB SAP Sopra Tagit Pte Ltd TCS Technisys Temenos Worldline

For more information about this report visit https://www.researchandmarkets.com/research/svtr7n/digital_banking?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181114005611/en/

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Related Topics:Online Banking

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY INTERNET PROFESSIONAL SERVICES BANKING

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/14/2018 10:36 AM/DISC: 11/14/2018 10:36 AM

http://www.businesswire.com/news/home/20181114005611/en

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