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 world’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,
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Latest released the research study on Global Banking as a Digital Platform Market, offers a detailed overview of the factors influencing the global business scope. Banking as a Digital Platform Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Banking as a Digital Platform. The study covers emerging player’s data, including: competitive landscape, sales, revenue and global market share of top manufacturers are 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) and Worldline (France).
- 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
- Advancement in Artificial Intelligence
- Incorporation of Blockchain Technology in Banking System
- Low Adoption of Digital Banking Services in Rural Areas in Emerging Countries
- Difficulty in Integration of Services with Legacy Systems
- Concern Regarding Data Privacy and Cyber Security
- Delivering Quality at Speed and Technology Upgrade
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)
Analyst at AMA have conducted special survey and have connected with opinion leaders and Industry experts from various region to minutely understand impact on growth as well as local reforms to fight the situation. A special chapter in the study presents Impact Analysis of COVID-19 on Global Banking as a Digital Platform Market along with tables and graphs related to various country and segments showcasing impact on growth trends.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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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 2014-2019
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 (2020-2025).
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.
Data Sources & Methodology
The primary sources involves the industry experts from the Global Banking as a Digital Platform Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.
In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company’s Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.
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