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Digital Banking market worth around $10 Tn by 2027; Global Market Insights Inc.

·4-min read

Some of the key digital banking market players include Appway AG, CREALOGIX AG, ebankIT, Etronika, Fidor Solutions AG, Finastra,, ieDigital, Infosys Ltd., and Kony Inc.

Selbyville, Delaware, Dec. 06, 2021 (GLOBE NEWSWIRE) --

Digital Banking Market Size is anticipated to exceed USD 10 trillion by 2027, according to the most recent study by Global Market Insights Inc. Increasing penetration of the internet and smartphones are proliferating market growth.

Growing investments in the fintech industry and supportive government initiatives are driving the digital banking market growth. Governments across the world are taking different approaches to accelerate the fintech industry growth. For instance, in August 2021, the Prime Minister of India launched a new digital payment system, e-RUPI. It is a cashless and contactless solution for digital payment. Its e-voucher helps customers to make digital transactions more efficiently.

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Investment banking is expected to grow with significant market share during the forecast period due to the growing need to accelerate digitalization across business enterprises and increasing M&A activities. Investment banks are increasingly focusing on mergers & acquisitions to expand their product capabilities and regional presence. Furthermore, investment banks are adopting advanced technologies and data analysis to better understand their clients and find new ways to cross-sell & improve relationship stickiness.

The financial planning segment is expected to witness a digital banking market share of over 20% from 2021 to 2027 due to the growing number of SMEs across the globe and the increasing adoption of AI & data analytics by financial advisory firms. Financial consulting firms are rapidly adopting advanced technologies to provide more customized and personalized services to customers. A major emerging trend is robot-advisors that provide data-backed algorithm-driven financial planning services. Modern digital financial planning services offer easy account setup, robust goal planning, account services, portfolio management, and security features.

Europe is projected to grow exponentially in the global digital banking market throughout the forecast timeline. Growth is attributed to changing customer preferences, growing adoption of advanced technologies, and increasing digitalization across the fintech sector. Online banking is becoming one of the most popular payment methods in Europedue to its easy to use and advanced features. Supportive government initiatives are providing significant growth opportunities to the market. For instance, in June 2021, the European Union plans to develop a new digital wallet for payments across 27 European countries. The digital wallet will offer enhanced security during online transactions.

Major players operating in the market are Appway AG, CREALOGIX AG, ebankIT, Etronika, Fidor Solutions AG, Finastra,, ieDigital, Infosys Ltd., and Kony Inc. Companies operating in the market are focusing on developing innovative digital banking solutions. For instance, in May 2021, HSBC launched the HSBC SmartServe and HSBC IntelliSign, which are digital banking solutions for corporate customers. These API-enabled solutions provide an accelerated onboarding experience, a digital platform for electronic signatures, and leverage the existing data assets to complete the account opening process.

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Partial chapters of report table of contents (TOC):

Chapter 3 Digital Banking Market Insights

3.1 Introduction

3.2 Industry segmentation

3.3 Industry landscape, 2017-2027

3.3.1 Digital banking market revenue, 2017-2027

3.3.2 Digital banking users, 2017-2027

3.4 Impact of COVID-19 outbreak

3.4.1 Global outlook

3.4.2 By region

3.4.3 Industry value chain Suppliers Digital banking technology providers Marketing & distribution channels

3.4.4 Competitive landscape Strategy Business growth

3.5 Evolution of digital banking

3.6 Industry ecosystem analysis

3.6.1 Digital banking industry ecosystem analysis

3.6.2 Profit margin analysis

3.6.3 Vendor matrix

3.7 Consumer trends

3.7.1 Demographic breakdown

3.7.2 Digital banking vs traditional banking

3.7.3 Mobile banking penetration

3.7.4 Internet banking penetration

3.8 Digital payment transaction value and volume

3.9 Patent analysis

3.10 Investment portfolio

3.11 Technology & innovation landscape

3.11.1 Artificial Intelligence (AI)

3.11.2 APIs

3.11.3 Blockchain

3.11.4 Human digital interface

3.12 Regulatory landscape

3.13 Industry impact forces

3.13.1 Growth drivers

3.13.2 Industry pitfalls & challenges

3.14 Growth potential analysis

3.15 Porter’s analysis

3.16 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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