The Europe Digital Banking Platform Market would witness market growth of 15.2% CAGR during the forecast period (2020-2026). The digital banking platform enables the automated distribution of conventional and modern banking products and services directly to end users via interactive channels of communication. In addition, many banks and financial institutions are offering digital banking channels to increase their clients across the globe and offer comfort to their clients. The rise in the number of Internet users and the increase in the change from conventional banking to online banking are key factors driving the growth of the industry.
In addition, an increase in the adoption of a cloud-based platform to improve the scalability of the platform would boost market growth. Nevertheless, security and enforcement problems in the digital lending industry impede the growth of the digital banking platform market. In addition, growth in the use of machine learning and artificial intelligence on the digital banking platform and an increase in innovative banking services and an increase in corporate investors are expected to provide lucrative market opportunities.
The finance sector has been in a secure position for decades, with low client turnover and virtually no geographic competition, with good relations and confidence being the point of selling without any regulatory interference. Nevertheless, new competitors from adjacent industries and start-ups in financial technology are flooding the market with innovative, technology-driven deviations from traditional business models. Consumers often flock to digital challenger banks because of their remote capabilities. Big banks are also investing in digitizing their financial services in order to differentiate themselves from these financial start-ups and other technology players. The smaller players also adapt to changes by catering to the niche customer segment. The banking world is changing these developments. The smaller players also adapt to changes by catering to the niche customer segment. The banking world is changing these developments.
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Type, the market is segmented into Retail Banking and Corporate Banking. Based on Banking Mode, the market is segmented into Online Banking and Mobile Banking. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Digital Banking Platform Market in Europe is expected to register a CAGR of 15.2% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Infosys Limited (EdgeVerve Systems), Fidelity Information Services (FIS), Inc., Fiserv, Inc., Oracle Corporation, SAP SE, Temenos AG, The Bank of New York Mellon Corporation, Appway AG, COR Financial Solutions Ltd., and VSoft Corporation.
Market Segmentation:
By Component
By Deployment Type
By Type
By Banking Mode
By Country
Companies Profiled
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