Digital Banking Market

Digital Banking Market by Types (Corporate Banking, Retail Banking, and Investment Banking), Services (Transactional [Loans, Fund Transfers, Auto-debit/Auto-credit Services, and Cash Deposits & Withdrawals] and Non-transactional [Stock Advisory, Information Security, Financial Planning, and Risk Management]), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: BFSI-3010
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 3
  • No. Of Pages: 218
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The global digital banking market was estimated at USD 804 Billion in 2018 and is projected to expand at a robust CAGR during the forecast period, between 2021 and 2028. Digital banking refers to the mechanization of banking transitions and other financial services. Users can avail the financial services offered by banks using an online platform and carry out all their activities digitally, avoiding hassle. Digitization of activities has resulted in constant availability of banking operations, thereby substituting the bank’s physical presence. The development of digital banking as a service to the bank’s customers has revolutionized the banking and finance industry. This development has resulted in the integration of digital finance such that the daily transactions can be carried out electronically between banks.

Digital Banking Market

Market Trends, Drivers, Restraints, and Opportunities

  • Cost efficiency and the elimination of requirement for physical hardware is primarily driving the market.
  • Increased utilization of smartphones has prompted users to carry out their day-to-day financial activities through the Internet, which further propels the market growth.
  • Rising penetration of Internet in rural areas and rising global industrialization result have increased number of online banking transactions, which is spurring the market growth.
  • High risk of security on online banking platforms and data breaches can hamper the market growth.
  • Growing influence of social media that encourages people to engage in online shopping and the use of digital banking for payments is estimated to offer lucrative opportunities for the market development.
  • Various government initiatives toward promoting cashless transactions and incentives offered on digital banking platforms have resulted in the growth of the market.

Scope of the report

The report on the global digital banking market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Digital Banking Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (Corporate Banking, Retail Banking, and Investment Banking), Services (Transactional [Loans, Fund Transfers, Auto-debit/Auto-credit Services, and Cash Deposits & Withdrawals] and Non-transactional [Stock Advisory, Information Security, Financial Planning, and Risk Management])

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Global Digital Banking Market Segment Insights

Increasing profit margins drive the corporate banking segment

Based on types, the digital market can be segmented into corporate banking, retail banking, and investment banking. The corporate banking segment is projected to generate significant revenue during the forecast period owing to increasing investments and financial operations carried out by large scale organizations and corporations. Corporate banking is a separate branch of banking that involves financial services offered by banking institutions to business enterprises. Digital banking services provided to corporations generate significant revenue for the digital banking market due to the convenience of cashless transactions. The retail banking segment is expected to grow at a robust growth owing to the increasing use of online payment options by consumers, in their usual transactions. Digitization of services has influenced retailers to offer cashless transactions to their customers through online payment portals such as QR codes and payment applications.

Digital Banking Market

High convenience and efficiency has resulted in robust growth of the transactional segment

On the basis of services, the market can be bifurcated into transactional and non-transactional services. The transactional services segment can further be classified as loans, fund transfers, auto-debit/credit-credit services, and cash deposits & withdrawals. Whereas, the non-transactional services segment can be categorized as stock advisory, information security, financial planning, and risk management. The transactional segment registered a major market share in 2020 and is expected to gain momentum during the forecast period. Transactional services facilitate cashless transfer of funds from one party to another through an online platform. Transactions such as cash deposits, fund transfers, and loans can be carried out using the banking services offered by the aid of the Internet. The easier facilitation of cash withdrawals and deposits through digital banking platforms aided by enhanced security also influences the market growth. The non-transactional segment is estimated to expand at a robust growth rate owing to the rise of information security services. Information security helps in the protection of sensitive information that has been stored on various deployment modes such as the cloud technology.

Increasing use of smartphones and the era of digitization to influence the market in Asia Pacific

In terms of regions, the global digital banking market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to generate a robust revenue for the market owing to rising prevalence of banking technology and the adoption of smartphones in urban areas. Technological developments in developing countries such as India, China, and Japan is anticipated to positively influence the digital banking market. Government support toward facilitation of cashless transactions and increasing investments towards banking is also propelling the market growth in the region. Moreover, collaborations between traditional banking institutions and financial technology players has resulted in developments in digital banking that adheres to consumer preference and user interface.

Digital Banking Market

Segments

Segments covered in the Report

By Types

  • Corporate Banking
  • Retail Banking
  • Investment Banking

By Services

  • Transactional
    • Loans
    • Fund Transfers
    • Auto-debit/Auto-credit Services
    • Cash Deposits & Withdrawals
  • Non-transactional
    • Stock Advisory
    • Information Security
    • Financial Planning
    • Risk Management

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Competitive Landscape

Key players in the global digital banking market include Oracle Corporation; Fidor Solutions AG; Appway AG; Bank of New York Mellon Corporation; CREALOGIX AG; Etronika; Finastra; Halcom.com; ieDigital; Infosys Limited; Intellect Design Arena Limited; Kony; NETinfo Plc; Technisys S.A.; NF Innova; SAP SE; Sopra Steria; Tata Consultancy Services Limited; Temenos AG; SAB; and Worldline. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Banking Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Digital Banking Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Digital Banking Market - Supply Chain
  4.5. Global Digital Banking Market Forecast
     4.5.1. Digital Banking Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Digital Banking Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Digital Banking Market Absolute $ Opportunity
5. Global Digital Banking Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Digital Banking Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Digital Banking Demand Share Forecast, 2019-2026
6. North America Digital Banking Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Digital Banking Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Digital Banking Demand Share Forecast, 2019-2026
7. Latin America Digital Banking Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Digital Banking Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Digital Banking Demand Share Forecast, 2019-2026
8. Europe Digital Banking Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Digital Banking Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Digital Banking Demand Share Forecast, 2019-2026
9. Asia Pacific Digital Banking Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Digital Banking Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Digital Banking Demand Share Forecast, 2019-2026
10. Middle East & Africa Digital Banking Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Digital Banking Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Digital Banking Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Digital Banking Market: Market Share Analysis
  11.2. Digital Banking Distributors and Customers
  11.3. Digital Banking Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Segments covered in the Report

By Types

  • Corporate Banking
  • Retail Banking
  • Investment Banking

By Services

  • Transactional
    • Loans
    • Fund Transfers
    • Auto-debit/Auto-credit Services
    • Cash Deposits & Withdrawals
  • Non-transactional
    • Stock Advisory
    • Information Security
    • Financial Planning
    • Risk Management

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key players in the global digital banking market include Oracle Corporation; Fidor Solutions AG; Appway AG; Bank of New York Mellon Corporation; CREALOGIX AG; Etronika; Finastra; Halcom.com; ieDigital; Infosys Limited; Intellect Design Arena Limited; Kony; NETinfo Plc; Technisys S.A.; NF Innova; SAP SE; Sopra Steria; Tata Consultancy Services Limited; Temenos AG; SAB; and Worldline. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

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