Digital banking market size and share

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Pune, India, June 23, 2021 (GLOBE NEWSWIRE) –

The global digital banking market size is expected to increase at an exponential CAGR during the forecast period, owing to the various technological advancements taking place in the banking industry. Banking institutions use technologies and devices such as artificial intelligence (AI) and the Internet of Things (IoT) not only to improve products and services, but also to improve the overall customer experience.

The COVID-19 pandemic has played a central role in the increase in the use of digital banking solutions among customers around the world, with several governments imposing movement restrictions and blockages. This has forced many people to turn to online banking channels for their day-to-day transactions.

The trends that will drive the development of the digital banking market are presented below:

Online investment banking activities to increase in Asia-Pacific:

Asia Pacific Digital Banking Market Assessment will exceed $ 8 billion by 2026. The digital investment banking segment is expected to grow over 10% CAGR through 2026. Indeed, the region is experiencing rapid internet penetration, which has made more of financial products and services readily available to a wide range of clients.

Investment banking has become much easier today than it was a few years ago, as people then relied solely on the suggestions of their brokers and then made important investment decisions. However, this is not the case today, as people increasingly participate and learn the ropes of the stock market on their own, thanks to the millions of online investment platforms available. E-commerce has played an important role in saving time, money and energy for many investors as the stock markets are accessed using smartphones.

Access sample pages of the report, “Asia-Pacific Digital Banking Market Forecast 2026»In detail with the table of contents (ToC) @

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Mobile payments will benefit the APAC digital banking market:

Developing countries in the APAC region are witnessing massive adoption of NFC and POS terminals due to the rapid digitization occurring in these countries. Banking services in these economies are going digital not only to increase customer base, but also to grow their businesses. High-end gadgets like tablets and smartphones are seeing a rapid increase in their demand among consumers in India, Indonesia, Philippines and Malaysia, which has led to the introduction of mobile wallets.

These wallets are a digitized version of physical wallets and perform functions such as payments and cash withdrawals. Mobile wallets provide security for stored money unlike physical wallets. The increase in the use of mobile wallets has forced retail stores to integrate with online payment platforms to accept mobile payments. All of these factors will positively impact the market size in the Asia-Pacific region.

Strategic alliances to innovate in digital bakery products:

Several companies in the Asia-Pacific digital banking market are forging strategic alliances with other fintech companies. They aim to create innovative products and services to better serve banking customers. In January 2019, Western Union announced its partnership with Kakaobank of Korea Corporation to launch Western Union money transfer services in an app created by Kakaobank. This partnership has been very beneficial for Kakaobank customers as they were able to send and receive money using this app, improving their overall experience.

Digital banking services for businesses will gain momentum in Europe:

Size of the digital banking market in Europe is expected to exceed $ 2 billion by 2026. The business banking segment is expected to grow at nearly 5% CAGR during the forecast period 2020-2026. One of the main reasons for this is the growing need of customers to reduce the high number of formalities and complexities involved in the banking industry. Conventional banks often have many portals and competitors, making it difficult for corporate clients to maintain different accounts for their business.

This is where digital banking solutions come in handy as they provide an online dashboard with comprehensive information in a consolidated format. This helps corporate clients to view their transaction history and even provide financial projections of their cash position in graphical form.

Access sample pages of the report, “Europe Digital Banking Market Forecast 2026»In detail with the table of contents (ToC) @

https://www.graphicalresearch.com/request/1537/sample

Canada will experience increased demand for digital banking services:

The Canadian digital banking market is expected to show exponential progress during the forecast period 2020-2026. The country quickly adopted some of the most advanced banking technologies to improve its financial infrastructure. Nowadays, a large number of customers use digital banking platforms to complete their daily transactions.

The Canadian Imperial Bank of Commerce, in August 2020, announced its intention to use Salesforce’s CRM platform to improve the overall customer experience. The bank aims to provide end-to-end scanning services and advanced analytics to encourage customers to use digital banking services.

Access sample pages of the report, “North America Digital Banking Market Forecast 2026»In detail with the table of contents (ToC) @

https://www.graphicalresearch.com/request/1869/sample

Growing Use of Retail Bakery in North America:

Financial applications on mobile devices are experiencing an incredible increase in demand among consumers in North America. This is because they facilitate transactions. People can now receive all kinds of information related to their financial transactions on their smartphones and tablets. This has prompted financial institutions to change their functions and make them more suitable for online banking. This has improved the customer experience and has also benefited banks.

About graphical search:

Graphical Research is a business research company providing industry insights, market forecasts, and strategic contributions through granular research reports and advisory services. We publish targeted research reports with the aim of meeting the diverse needs of clients, from penetration and market entry strategies to portfolio management and strategic perspectives. We understand that business requirements are unique: our syndication reports are designed to ensure relevance to industry participants throughout the value chain. We also provide custom reports tailored to the exact needs of the client, with dedicated analyst support throughout the purchase lifecycle.




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