Global Digital Banking Platform and Services
Market Report
2025
The global digital banking platform and services market size was USD 21.5 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 21.30% from 2023 to 2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global digital banking platform and services market size was USD 21.5 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 21.30% from 2023 to 2030.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Digital Banking Platform and Services Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 21.3% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Service |
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Market Split by Component |
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Market Split by Mode |
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Market Split by Deployment |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Digital Banking Platform and Services industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Digital Banking Platform and Services Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The automated delivery of new and old banking services and products to end users through conversational communication channels is made possible by digital banking platforms and services. The market is expanding mostly due to increased internet users and a trend away from traditional banking toward online banking. The industry is expanding as a result of increased cloud platform adoption, which allows for more scalability.
These innovations enable companies to provide more customized products and services, which fuels the expansion of the digital banking platform and services sector.
For instance, in January 2023, small and medium-sized businesses (SMEs), independent contractors, home-based business owners, influencers, and other customers of Axis Bank may now access a fully native digital current account journey thanks to a partnership between the two companies.
The digital banking platforms and services market is anticipated to grow as cloud-based platforms become more widely used since they offer higher scalability. A cost-effective and effective method for managing all operational procedures for insurers, as well as data management and governance challenges, is cloud deployment. Additionally, mobile banking platforms and services now support bank clients' whole banking journey, from account opening to transactional banking requests, on their mobiles due to the cloud. Due to customers shifting desire for mobile banking, banks are quickly implementing mobile banking platforms and services.
The goal of financial institutions around the world is to make compliance simpler and to guarantee secure transactions. As a result, several stringent rules have been implemented, such as Know Your Customer (KYC) and new tax reporting rules under the Foreign Account Tax Compliance Act (FATCA). These restrictions have led to increased compliance work that banks, asset management companies, brokers, and insurers must do. Banks and financial authorities need to be transparent with consumers or end users regarding the trade-off between convenience and security concerning digital banking platforms and services have increased due to the proliferation of new requirements. Many financial institutions have chosen to use third-party technical solutions for mobile or web applications, which very sophisticated cyberattacks have complicated.
In the COVID-19 pandemic, where companies are grappling with operational challenges, several banks and financial institutions give their clients new digital tools and strategies, with the digital banking platform and services having witnessed significant improvement. The digital banking platform and services market has additional growth potential due to the rise of online and mobile banking among end users during the pandemic.
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The competitive climate for the digital banking platforms and services market is quite vibrant and diverse. This is as a result of new businesses and products entering the market, which has divided the digital banking ecosystem's physical environment. However, thanks to product innovation and technical developments, midrange and smaller businesses are boosting their market share by gaining new contracts and alliances.
November 2022: A strategic agreement between Capco and Savana has been announced to speed up banks' transformation efforts and promote ongoing digital product innovation. The collaboration combines Savana's technology know-how and digital delivery platform with Capco's in-depth topic experience, creative culture, and strong partnerships with top financial institutions.
(Source:www.capco.com/en/About-Us/Newsroom-and-media/Capco-and-Savana-Announce-Strategic-Partnership)
August 2021: To increase the speed at which banks and EMIs worldwide comply with the Payments Service Directive 2 (PSD2) and other international Open Banking standards, Finastra and Salt Edge have announced their partnership.
Top Companies Market Share in Digital Banking Platform and Services Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2022. It accounted for a share of more than 45% of the global revenue due to the high rate of technological adoption in the area, the high level of client demand for digital banking services, and the substantial investments made in digital banking infrastructure by significant banks. With a high rate of technology adoption among consumers and businesses,
According to Cognitive Market Research, the market for digital banking platforms in North America is expected to be dominated by the United States. The shift in customer preferences for financial services is the result of information technology improvements that have made it easier to create dynamic and intuitive user interfaces for websites and applications. Individuals in the United States spent more time at home and on their phones due to the worldwide coronavirus (COVID-19) outbreak. Greater use of digital banking followed in the area.
In the upcoming years, Asia Pacific's growth rate will be higher. Numerous fintech businesses are based in Asia, launching cutting-edge digital banking platforms and upending conventional banking practices. As the demand for mobile and online alternatives rises, new digital enterprises fundamentally alter the industry and redefine banking for individuals and businesses.
The current report Scope analyzes Digital Banking Platform and Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Digital Banking Platform and Services Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Digital Banking Platform and Services Industry growth. Digital Banking Platform and Services market has been segmented with the help of its Type, Service Component, and others. Digital Banking Platform and Services market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Customers' Greater Emphasis on Financial Management Drives Development in the Retail Banking Segment
According to Cognitive Market Research, retail banking is growing at the quickest rate as customers increasingly emphasize financial management and turn to digital tools for help and insight. Banks have also realised that Fintech is not a threat to customers, but rather an opportunity.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Digital Banking Platform and Services Industry. Request a Free Sample PDF!
In 2022, the professional services industry owned most of the market's revenue. Professional services are in greater demand because they assist firms automate compliance monitoring and detect and mitigate risks through security assessments.
Furthermore, the category for managed services is anticipated to have the greatest CAGR during the projection period. Managed data centre services may help organisations function more efficiently in a hybrid IT environment by improving business management and increasing business automation.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to Cognitive Market Research, the platforms segment held the biggest market share during the anticipated period. The management of established communication between bank professionals and consumers, increased investment in platforms for speedier loan processing, and an increased focus on customer acquisition among bankers all contribute to the market's expansion.
The second-largest industry is services. Support services serve as a support system for any organization by assisting with deploying and integrating various digital banking services in an enterprise ecosystem. They are essential to digital banking services because they satisfy customer demands, such as little documentation and quick loan processing.
The online banking industry controlled the market for digital banking platform and services. Online banking is the most contemporary retail financial service delivery method. Online banking includes inter-account transactions, balanced reporting, and other common retail banking functions.
Moreover, the mobile banking industry is expected to rise significantly during the projected period. Lower service fees and rising smartphone usage are important factors furthering the success of mobile banking.
According to Cognitive Market Research, in 2022, the sector with on-premise customers had the highest revenue share. Many consumers choose the on-premise option because utilizing software on-premises is safer than using cloud-based services Furthermore, because the program is installed and only used within the user's network, security and IT personnel have direct access to it.
However, in terms of revenue share in 2022, the cloud segment ranked second. The usage of SaaS and the cloud will determine if inclusive banking is successful in the future. Despite the difficult climate for inclusive banking, the advantages of cloud computing and software as a service for poor populations more than makeup for it.
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Digital Banking Platform and Services Market is witnessing significant growth in the near future.
In 2023, the Retail Banking segment accounted for noticeable share of global Digital Banking Platform and Services Market and is projected to experience significant growth in the near future.
The Professional Service segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Appway AG , Finastra and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
As a result, data may be accessed more quickly and easily for assuring regulatory reports, reducing risks, and spotting irregularities in risk management. Financial institutions are shifting their focus to digital banking as a result of online banking's ability to enhance services and raise revenues, which is driving up demand for digital banking platforms and services.
Disclaimer:
Type | Retail Banking, Corporate Banking, Investment Banking |
Service | Professional Service, Managed Service |
Component | Platforms, Services |
Mode | Online Banking, Mobile Banking |
Deployment | On-Premise, Cloud |
List of Competitors | Appway AG, Alkami Technology Inc., Finastra, Fiserv Inc., Crealogix AG, Temenos, Urban FT Group Inc., Q2 Software Inc., Sopra Banking Software, Tata Consultancy Service |
This chapter will help you gain GLOBAL Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review Global Digital Banking Platform and Services Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review North America Digital Banking Platform and Services Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review Europe Digital Banking Platform and Services Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review Asia Pacific Digital Banking Platform and Services Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review South America Digital Banking Platform and Services Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review Middle East Digital Banking Platform and Services Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Digital Banking Platform and Services. Further deep in this chapter, you will be able to review Middle East Digital Banking Platform and Services Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Digital Banking Platform and Services. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
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Chapter 11 Market Split by Service Analysis 2021 - 2033
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Chapter 12 Market Split by Component Analysis 2021 - 2033
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Chapter 13 Market Split by Mode Analysis 2021 - 2033
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Chapter 14 Market Split by Deployment Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Digital Banking Platform and Services market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 16 Research Methodology and Sources
Why Retail Banking have a significant impact on Digital Banking Platform and Services market? |
What are the key factors affecting the Retail Banking and Corporate Banking of Digital Banking Platform and Services Market? |
What is the CAGR/Growth Rate of Professional Service during the forecast period? |
By type, which segment accounted for largest share of the global Digital Banking Platform and Services Market? |
Which region is expected to dominate the global Digital Banking Platform and Services Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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