Digital Banking Platform Market Size, Share, Industry Growth & Report 2023-2028

Digital Banking Platform Market,

According to the global digital banking platform market report by IMARC Group, the market reached a value of US$ 5.8 Billion in 2022, and it is projected to reach a value of US$ 12.2 Billion by 2028, exhibiting a CAGR of 12.5% during 2023-2028.

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

What Are Digital Banking Platform?

A digital banking platform (DBP) provides digital financial services to customers using web-based services, process automation, and application programming interfaces (APIs). It allows users to handle and control financial operations using laptops, desktops, and mobile phones. It is convenient, easy, and quick to use and involves digitizing all traditional banking services, such as bill payments, loan management, cash withdrawals, opening deposit accounts, and funds transfers. In addition, it provides bank statements and real-time transaction notifications, schedules expenditures, and encourages cardless payments. As a result, DBPs are widely utilized for online and mobile banking operations across the globe.

Request For A Free Sample Copy Of This Report:

What Are The Growth Prospects And Trends In The Digital Banking Platform Industry?

The market is primarily driven by the rising internet penetration of the internet and smartphones resulting in improved flexibility and transparency in banking operations. In addition, the widespread adoption of cloud-based solutions by financial institutions to acquire high scalability is contributing to market growth. Moreover, the integration of artificial intelligence (AI), and machine learning (ML) to prevent payment fraud, assess risks, perform know-your-customer (KYC) regulatory checks, and enhance processes for anti-money laundering (AML), represents another major growth-inducing factor.

Besides this, the increasing use of third-party applications for real-time payments, such as Google Pay, Whatsapp pay, PhonePe, and Paytm has accelerated the demand for reliable unified payments interface (UPI) transactions. Furthermore, the implementation of several government initiatives to encourage a cashless economy and extensive research and development (R&D) activities conducted by key players are also creating a favorable market outlook across the globe..

What Is Included In Market Segmentation?

The report has segmented the market into the following categories:

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

Market 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

Who Are The Key Players Operating In The Industry?

The report covers the major market players including:

  • 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.

Ask Analyst for Customization and Browse full report with TOC & List of Figure:

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US


134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800


Follow us on Twitter: @imarcglobal


Leave a Reply

Your email address will not be published. Required fields are marked *