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Digital Banking Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

October 2023 | 150 pages | ID: D3B20EA40639EN
IMARC Group

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Market Overview:

The global digital banking platform market size reached US$ 5.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 12.5% during 2023-2028.

A digital banking platform (DBP) refers to financial services provided solely online by banks. It relies on process automation, application programming interfaces (APIs), and web-based services to serve customers through online channels. DBP involves the digitization of all traditional banking services and products, including funds transfer, bill payments, cash withdrawals, loan management, and opening deposit accounts. It also offers features and capabilities, such as checking and savings account, real-time transaction notifications, scheduling expenditures, obtaining bank statements, promoting cardless payments, and remotely monitoring personal finance management (PFM) and account-to-account (A2A) payments. DBP is easy, convenient, and quick to use and enables users to control and handle everyday financial operations using mobile phones, laptops, and desktops.

Digital Banking Platform Market Trends:

The increasing shift from traditional banking to online banking platforms represents one of the major factors driving the market growth. DBP provides instant transactions with enhanced security to the customer, thus making the platform more reliable and efficient. In line with this, the increasing penetration of the internet and smartphones due to the growing need for improved transparency and flexibility in banking operations is favoring the market growth. Apart from this, the utilization of machine learning (ML) and artificial intelligence (AI) in digital banking platforms to detect and prevent payment frauds, assess risks, improve processes for anti-money laundering (AML), and perform know-your-customer (KYC) regulatory checks are providing an impetus to the market growth. Additionally, the increasing demand for enhanced customer experience and convenience and the widespread adoption of cloud-based solutions by banks and financial institutions to obtain higher scalability is creating a positive outlook for the market. Other factors, including extensive research and development (R&D) activities and the implementation of various government initiatives promoting a cashless economy, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global digital banking platform market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type, deployment mode and banking mode.

Breakup by Component:

Solutions

Services

Breakup by Type:

Retail Banking

Corporate Banking

Breakup by Deployment Mode:

On-premises

Cloud-based

Breakup by Banking Mode:

Online Banking

Mobile Banking

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Appway AG (FNZ (UK) Ltd.), Fidelity Information Services (FIS), Finastra Limited, Fiserv Inc., Infosys Limited, nCino, NCR Corporation, Oracle Corporation, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Temenos AG, The Bank of New York Mellon Corporation and Worldline.

Key Questions Answered in This Report

1. How big is the global digital banking platform market?

2. What is the expected growth rate of the global digital banking platform market during 2023-2028?

3. What are the key factors driving the global digital banking platform market?

4. What has been the impact of COVID-19 on the global digital banking platform market?

5. What is the breakup of the global digital banking platform market based on the component?

6. What is the breakup of the global digital banking platform market based on the type?

7. What is the breakup of the global digital banking platform market based on the deployment mode?

8. What is the breakup of the global digital banking platform market based on the banking mode?

9. What are the key regions in the global digital banking platform market?

10. Who are the key players/companies in the global digital banking platform market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL DIGITAL BANKING PLATFORM MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Solutions
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Services
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY TYPE

7.1 Retail Banking
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Corporate Banking
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY DEPLOYMENT MODE

8.1 On-premises
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Cloud-based
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY BANKING MODE

9.1 Online Banking
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Mobile Banking
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Appway AG (FNZ (UK) Ltd.)
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
  15.3.2 Fidelity Information Services (FIS)
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 Finastra Limited
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
  15.3.4 Fiserv Inc.
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 Financials
    15.3.4.4 SWOT Analysis
  15.3.5 Infosys Limited
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
    15.3.5.3 Financials
    15.3.5.4 SWOT Analysis
  15.3.6 nCino
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
  15.3.7 NCR Corporation
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
    15.3.7.4 SWOT Analysis
  15.3.8 Oracle Corporation
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 Financials
    15.3.8.4 SWOT Analysis
  15.3.9 SAP SE
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
    15.3.9.3 Financials
    15.3.9.4 SWOT Analysis
  15.3.10 Sopra Steria
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
    15.3.10.3 Financials
    15.3.10.4 SWOT Analysis
  15.3.11 Tata Consultancy Services Limited
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
    15.3.11.3 Financials
    15.3.11.4 SWOT Analysis
  15.3.12 Temenos AG
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio
    15.3.12.3 Financials
    15.3.12.4 SWOT Analysis
  15.3.13 The Bank of New York Mellon Corporation
    15.3.13.1 Company Overview
    15.3.13.2 Product Portfolio
    15.3.13.3 Financials
    15.3.13.4 SWOT Analysis
  15.3.14 Worldline
    15.3.14.1 Company Overview
    15.3.14.2 Product Portfolio
    15.3.14.3 Financials

LIST OF TABLES

Table 1: Global: Digital Banking Platform Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Digital Banking Platform Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Digital Banking Platform Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 4: Global: Digital Banking Platform Market Forecast: Breakup by Deployment Mode (in Million US$), 2023-2028
Table 5: Global: Digital Banking Platform Market Forecast: Breakup by Banking Mode (in Million US$), 2023-2028
Table 6: Global: Digital Banking Platform Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Digital Banking Platform Market: Competitive Structure
Table 8: Global: Digital Banking Platform Market: Key Players

LIST OF FIGURES

Figure 1: Global: Digital Banking Platform Market: Major Drivers and Challenges
Figure 2: Global: Digital Banking Platform Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Digital Banking Platform Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Digital Banking Platform Market: Breakup by Component (in %), 2022
Figure 5: Global: Digital Banking Platform Market: Breakup by Type (in %), 2022
Figure 6: Global: Digital Banking Platform Market: Breakup by Deployment Mode (in %), 2022
Figure 7: Global: Digital Banking Platform Market: Breakup by Banking Mode (in %), 2022
Figure 8: Global: Digital Banking Platform Market: Breakup by Region (in %), 2022
Figure 9: Global: Digital Banking Platform (Solutions) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Digital Banking Platform (Solutions) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Digital Banking Platform (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Digital Banking Platform (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Digital Banking Platform (Retail Banking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Digital Banking Platform (Retail Banking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Digital Banking Platform (Corporate Banking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Digital Banking Platform (Corporate Banking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Digital Banking Platform (On-premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Digital Banking Platform (On-premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Digital Banking Platform (Cloud-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Digital Banking Platform (Cloud-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Digital Banking Platform (Online Banking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Digital Banking Platform (Online Banking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Digital Banking Platform (Mobile Banking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Digital Banking Platform (Mobile Banking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: North America: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: North America: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: United States: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: United States: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Canada: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Canada: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Asia-Pacific: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Asia-Pacific: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: China: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: China: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Japan: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Japan: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: India: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: India: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: South Korea: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: South Korea: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Australia: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Australia: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Indonesia: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Indonesia: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Others: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Others: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Europe: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Europe: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Germany: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Germany: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: France: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: France: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: United Kingdom: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: United Kingdom: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Italy: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Italy: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Spain: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Spain: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Russia: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Russia: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Latin America: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Latin America: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Brazil: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Brazil: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Mexico: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Mexico: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Others: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Others: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Middle East and Africa: Digital Banking Platform Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Middle East and Africa: Digital Banking Platform Market: Breakup by Country (in %), 2022
Figure 73: Middle East and Africa: Digital Banking Platform Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Global: Digital Banking Platform Industry: SWOT Analysis
Figure 75: Global: Digital Banking Platform Industry: Value Chain Analysis
Figure 76: Global: Digital Banking Platform Industry: Porter's Five Forces Analysis


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