A Latest intelligence report published by AMA Research with title “Banking as a Digital Platform Market Outlook to 2026. A detailed study accumulated to offer Latest insights about acute features of the Global Banking as a Digital Platform Market. This report provides a detailed overview of key factors in the Banking as a Digital Platform Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. A thorough analysis of these factors including economic slowdown, local & global reforms and COVID-19 Impact has been conducted to determine future growth prospects in the global market.
Major Players in This Report Include,
CREALOGIX (Switzerland),ebanklT (United Kingdom),Intellect Design Arena (India),Finastra (United Kingdom),ETRONIKA (Lithuania),Fiserv (United States),NF Innova (Austria),Oracle (United States),SAB (France),Appway AG (Switzerland),Backbase (Netherlands),SAP (Germany),Sopra (France),Tagit (Singapore),TCS (India),Technisys (United States),Temenos (Switzerland),BNY Mellon (United States),Worldline (France)
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Digital Transformation (DX) is an ongoing trend that has been disrupting nearly all business operations for many businesses, including financial services. Banking and Finance sector is also more generally undergoing tremendous digital transformation across nearly all verticals. The digital platform can then be used to deliver custom solutions, services, and experiences to customers. With the help of digitalization, the financial institutions provide applications, development tools, middleware, operating systems, virtualization, servers, storage and networking to banks and other financial services providers.
Though banks are not being hit by the novel coronavirus as directly as other retail institutions, they are at the front of public attention. Business loans, mainly to small and medium enterprises, are at risk due to the forced shutdown. In conditions of social distancing raised by COVID-19, consumers may now divide financial institutions into ones they can use without leaving home. The COVID-19 pandemic could be the most serious challenge to financial institutions in nearly a century. As the economic fallout spreads, retail banks find themselves juggling some main concerns that involve concrete steps to reposition now while also recalibrating for the future. Banking and financial institutions were under immense pressure to ensure business-as-usual amidst the lockdown and health crisis. As per the 2017 global findex report by the World Bank, India is home to the worldâ€™s second-largest unbanked population with 190 million adults without access to a bank account. With increased penetration of mobile and Internet, the primary focus would accelerate technology-enabled digital financial inclusion. Banks enable its customers to interact over multiple automated and digital channels to offer the optimal channel mix. Banks have considered important factors such as demographics, access to the internet, last-mile connectivity, customer banking behavior patterns, etc. to enable operative adoption by the Indian banking consumers.
Steps to be taken:
In order to encourage customers to use existing remote channels and digital products, institutions can launch positive and safety-oriented messaging aimed at reducing reliance on branches for services that are digitally available. Banks can also improve their current digital offerings, identifying key functionalities that can be improved quickly; for example, they can increase the limit for online activities. Institutions in both Italy and China have found that many people are willingly using remote channels and digital offerings. Banks should carefully draw on the lessons that the current situation offers and use them to inform their digital transformation while building a much higher degree of both operative and financial resiliency.
Digital platforms are becoming the preferred and dominant business model for banks and financial institutions in the future. Digital platforms offer consumers and small businesses the ability to connect to financial and other service providers through an online or mobile channel as an integrated part of their day-to-day activities. For instance, instead now a days the financial institutions are contributing to a larger digital platform that serves the end-to-end home buying experience.
Growing Digitalization and Internet Penetration
Rising Need across Banks to Deliver Enhanced Customer Experience
Growing Adoption of Cloud-Based Platforms
Concern Regarding Data Privacy and Cyber Security
Delivering Quality at Speed and Technology Upgrade
Advancement in Artificial Intelligence
Incorporation of Blockchain Technology in Banking System
The Global Banking as a Digital Platform Market segments and Market Data Break Down are illuminated below:
by Application (Retail Digital Banking, SME Digital Banking, Corporate Digital Banking), Deployment Mode (On-Premises, Cloud-Based), Components (Software, Service), Banking Type (Retail Banking, Corporate Banking, Investment Banking), Modes (Online Banking, Mobile Banking)
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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
Strategic Points Covered in Table of Content of Global Banking as a Digital Platform Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Banking as a Digital Platform market
Chapter 2: Exclusive Summary – the basic information of the Banking as a Digital Platform Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the Banking as a Digital Platform
Chapter 4: Presenting the Banking as a Digital Platform Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying market size by Type, End User and Region 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Banking as a Digital Platform market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries (2021-2026).
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, Banking as a Digital Platform Market is a valuable source of guidance for individuals and companies in decision framework.
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