Global Digital Banking Platforms Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Digital Banking Platforms Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights, which offers in-depth insights, revenue details, and other vital information regarding the global digital banking platforms market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global digital banking platforms market report has been segmented on the basis of banking type, banking mode, deployment type, and region.

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Introduction:

A digital banking platform (DBP) enables bank to transformational process of becoming a digital bank that is ecosystem-centric. A DBP also enables banks to achieve business optimization. It also provides back-end that supports fast channel development. Digital banking platform supports real digital transformation through intelligent process planning, enabling authentic human interactions across all touchpoints in physical and digital worlds.

Dynamics:

Increasing demand from bank for digital platform in order to deliver enhanced customer experience related to e-payment systems is a major factor expected to drive growth of the global market. In addition, increasing government expenditure on development of IT infrastructure, coupled with various initiatives towards cashless economy is another factor expected to boost growth of the global market. Rapid digitalization in developed and developing countries, increasing number or smartphones users, and high internet penetration majorly in developing economics are some other factors expected to further support growth of the market to certain extent.

Moreover, increasing approach towards streamlining business processes and rising preference among large and mid-size enterprises for online payments systems are among other factors expected to support growth of the target market.

Furthermore, increasing adoption of cloud-based platforms in order to obtain higher scalability is another factor expected to support growth of the market.

However, problems associated to integrating digital banking platforms with legacy systems is a major factor expected to hamper growth of the global market over the forecast period. In addition, rising security concern is another factor expected to limit growth of the target market to certain extent.

Technological advancements and increasing government spending on infrastructure development is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, growing public and private partnership is expected to further support growth of the market to certain extent.

Region Analysis:

The market in North America is expected to dominate the global market in terms or revenue and is expected to continue its dominance over the forecast period. The dominance can be attributed to well-developed IT infrastructure, increasing government spending on security, and presence of major players operating in the countries in this region. In addition, growing merger and acquisition activities among regional and international players is expected to further support revenue growth of the target market in this region over the forecast period. Asia Pacific market is expected to witness faster growth, owing increasing government initiatives towards digital economy and rising government expenditure on IT infrastructure development. The market in Europe is expected to contribute significant revenue share in the global market.

Global Digital Banking Platforms Market Segmentation:

By Banking Types:

Retail Banking
Corporate Banking

By Banking Modes:

Online Banking
Mobile Banking

By Deployment Types:

On-premises
Cloud