Digital banking is the digitization of all the conventional banking services. In the digital banking, all the banking activities are operated through the internet. The move from conventional to digital banking is a steady process and is comprised by various levels of digitization of banking service. Digital banking consists of web based services and high levels of process automation and also includes cross institutional service with APIs in order to provide banking products and transactions. Digital banking also offers the capability for users to access economic information through mobile desktop and ATM services. Digital banking mainly focuses on money transfers, remote deposits, basic online management of accounts and bill pay. The report provides analysis of global digital banking market for the period 2016-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. The global digital banking market is anticipated to grow at substantial CAGR above 4% throughout the forecast period. Furthermore, Market players are primarily focusing on developing new innovative technologies that will supplement growth of the digital banking market.

Market Dynamics

growing adoption of online and mobile banking platforms, growth in Smartphone adoption and internet penetration, integration of advanced technologies, escalating need to provide improved customer experience, rise in retail banking and supportive government initiatives and policies are some of the fundamental factors that are driving the digital banking market growth globally. Growing adoption of online and mobile banking platforms is the major driving factor in the growth of the global digital banking market. Large number of banking institutes are moving toward digital sources to deliver their services due to the growing adoption of smartphones and increasing internet penetration across the world. Banks are adopting various innovative technologies in order to minimize operating costs to stay competitive in the market. Digital banking also helps banks to keep systems up to date and offer an enhanced customer experience and modified services at minor costs. The demand for non-transactional services is increasing rapidly owing to the ease of operation and cost effectiveness of non transactional services. Consumers, particularly the younger populace who are hyper connected, choice conscious and has digital knowledge are rapidly inclining towards the technology oriented services with their ever changing preferences. The adoption of digital banking services by these customers is boosting the growth of the overall market. However, growing threat of cyber attacks may hamper the growth of the global digital banking market.

Market Segmentation

Digital Banking Market, By Type

• Retail Banking
• Corporate Banking
• Investment Banking

Digital Banking Market, By Service

• Transactional Services
• Non-Transactional Services

Global Digital banking Market, by Geography

• North America
• U.S.
• Canada
• Mexico

• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
• Latin America
• Brazil
• Chile
• Rest of Latin America

• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA

The market research study on “Digital Banking Market (By Type: Retail Banking, Corporate Banking, Investment Banking; By Service: Transactional Services, Non-Transactional Services) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed insights on global digital banking market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global digital banking market by type, technology, services and major geographic regions. The report also covers basic technology development policies.

Market Participants

The global digital banking market is characterized by the presence of experienced and established players. Some of the key players include Backbase, BNY Mellon, Fiserv, Halcom, Appway, ebanklT, Crealogix, ETRONIKA, Fidor, Finastra, Intellect Design Arena, Oracle, IE Digital, Kony, NETinfo, EdgeVerve Systems, NF Innova, SAB, TCS, Temenos, Technisys, and Worldline. Multiple prominent players from the market are collaborating with other players in order to offer technologically advanced banking services to their customers. Additionally, they are focusing on strategic acquisitions in order to expand their industry presence.