Product Code: MRFR/BFSI/1454-CR
Global Digital Banking Market Research Report Information by Banking Type (Retail Banking, Corporate Banking, Investment Banking, Ethical/Socially Responsible Banking), by Solution (Online Banking Platforms, Mobile Banking App, Digital Wallets, Peer-To-Peer Payments App), by Operating Type (International Banking, Domestic Banking), by Deployment Model (Cloud-Based, On-Premises), by Organization Size (SMEs, Large Enterprises), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) Forecast till 2035
Industry Overview
By 2035, the Global Digital Banking Market is expected to attain a value of USD 40,599.41 million, advancing at a steady CAGR of 11.8% during the forecast period. Digital banking is the integration of advanced technology into traditional banking services, allowing users to perform transactions, manage accounts, and access financial products seamlessly through digital channels. It promotes speed, transparency, and a superior customer experience.
Over the last few years, smartphone penetration and app-based banking adoption have played a key role in driving the digital banking market worldwide. Since billions of users have shifted to mobile-first financial solutions, banks and fintechs are now launching apps that are intuitive, secure, and all-in-one. The instant transactions, biometric security, and lifestyle integrations that these platforms offer are exactly what consumers want from a brand - convenience, speed, and flexibility. These platforms offer instant transactions, biometric security, and lifestyle integrations, meeting consumer demand for convenience, speed, and flexibility, ultimately fueling the global shift toward branchless, technology-driven banking ecosystems.
Major Company Development
In June 2021, Infosys Finacle, a subsidiary of EdgeVerve Systems, launched digital banking software-as-a-service for Indian urban cooperative banks. Vidya Sahakari Bank, Urban Cooperative Bank, and Zoroastrian Cooperative Bank are some of the first users of the new platform. By November 2023, the Bank of Commerce will have the Bank of Commerce implemented the Infosys Finacle Suite. The areas covered are Core Banking, Liquidity Management, and Data Hub solutions. The bank aims to renew its operations, relocate the outdated infrastructure, and keep pace with the market trend changes efficiently.
Key Players
Major players in the global digital banking market include Alkami Technology, Inc., Backbase, Infosys/Finacle, nCino, Oracle, Q2, Sopra, Temenos, FNZ, Crealogix AG, Fiserv, Inc., Jack Henry and Associates, Inc., Fidelity National Information Services, Inc., NCR Corporation, and Finastra.
Report Attribute Details
- Market Size 2024: USD 12,168.12 Million
- Market Size 2035: USD 40,599.41 Million
- CAGR (2025-2035): 11.8%
- Base Year: 2024
- Market Forecast Period: 2025-2035
Industry Segmentations
- By Banking Type: Retail Banking - 3.7%, Corporate Banking - 4.7%.
- By Solution: Online Banking Platforms - 11.1%, Mobile Banking App - 13.0%.
- By Operating Type: International Banking - 4.1%, Domestic Banking - 4.8%.
- By Deployment Model: Cloud-Based - 4.2%, On-Premises - 4.4%.
- By Organization Size: SMEs - 4.2%, Large Enterprises - 4.4%.
Regional Analysis
The North American digital banking market has matured to a point where it has most likely accelerated the best part of its development. In 2024, North America dominated the digital banking landscape with USD 4,499.15 million, fueled by the U.S.'s advanced digital adoption and Canada's rising online banking penetration. The United States market is characterized by the competition of hybrids between traditional banks and neobanks.
The European digital banking market benefits from the mixing of regulation and the innovation of leading players. The EU's progressive open banking ecosystem has led to marked collaboration between the banks, the fintechs, and the third-party developers. Europe's digital banking market, valued at USD 1,600.69 million, showcased robust growth led by the UK's fintech innovation and the increasing digitization efforts across Germany and France.
The Asia-Pacific region is the most powerful market for global digital banking, combining a large part of the population with cutting-edge innovation. The super-app concept in China, India's UPI system, and the digital bank authorization framework in Singapore together make a strong and stable groundwork for the future. The Asia-Pacific region generated USD 1,829.32 million, underpinned by China's massive digital user base and Japan's push toward next-generation banking technologies.
The South American market is evolving from fintech experimentation to mainstream digital banking adoption. Brazil, a regional leader, continues to set global examples through Nubank's massive customer base and the central bank's proactive support for real-time payment ecosystems like Pix.
Digital banking across the Middle East and Africa is advancing rapidly, driven by visionary government policies and mobile-led inclusion strategies. The UAE and Saudi Arabia are pioneering this shift with fully digital banking licenses and lifestyle-integrated platforms. African economies, led by Kenya, Nigeria, and South Africa, are demonstrating how fintech innovation can leapfrog traditional banking models.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
- 2.1 DEFINITION
- 2.2 SCOPE OF THE STUDY
- 2.3 RESEARCH OBJECTIVE
- 2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
- 3.1 OVERVIEW
- 3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
- 3.3 PURCHASED DATABASE:
- 3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
- 3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
- 3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 CONSUMPTION NET TRADE APPROACH
- 3.6.2 REVENUE ANALYSIS APPROACH
- 3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
- 3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
- 3.9 TEAMS AND ANALYST CONTRIBUTION
4 MARKET DYNAMICS
- 4.1 OVERVIEW
- 4.2 DRIVERS
- 4.2.1 INCREASING ADOPTION OF SMARTPHONES AND APP BASED BANKING
- 4.2.2 CLOUD BASED DIGITAL BANKING
- 4.2.3 OPEN BANKING AND API INTEGRATION
- 4.3 RESTRAINTS
- 4.3.1 CYBERSECURITY THREATS AND DATA PROTECTION CHALLENGES
- 4.3.2 REGULATORY COMPLIANCE AND LEGAL CHALLENGES
- 4.3.3 CONSUMER TRUST AND ADOPTION AND LACK OF ONLINE CUSTOMER SERVICE
- 4.4 OPPORTUNITIES
- 4.4.1 AI-DRIVEN AUTOMATION AND PERSONALIZED BANKING SERVICES
- 4.4.2 GROWING DIGITAL WALLETS AND EMBEDDED PAYMENTS
- 4.5 IMPACT ANALYSIS OF COVID-19
- 4.5.1 IMPACT ON OVERALL ICT
- 4.5.2 IMPACT ON SUPPLY CHAIN OF GLOBAL DIGITAL BANKING MARKET
- 4.5.3 IMPACT ON MARKET DEMAND OF GLOBAL DIGITAL BANKING MARKET
- 4.5.4 IMPACT ON PRICING OF GLOBAL DIGITAL BANKING MARKET
5 MARKET FACTOR ANALYSIS
- 5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 TECHNOLOGY INFRASTTRUCTURE
- 5.1.2 PLATFORM,PRODUCT AND SERVICE DESIGN
- 5.1.3 CHANNEL & CUSTOMER INTERFACE
- 5.1.4 OPERATIONS
- 5.1.5 ECOSYSTEM INTEGRATION & MONETIZATION
- 5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INDUSTRY RIVALRY
- 5.3 GLOBAL DIGITAL BANKING TRANSACTIONS MARKET
- 5.4 NUMBER OF ONLINE BANKING USERS
- 5.5 SWOT ANALYSIS OF GLOBAL DIGITAL BANKING MARKET
- 5.6 PESTLE ANALYSIS OF GLOBAL DIGITAL BANKING MARKET
- 5.7 REGULATORY LANDSCAPE ANALYSIS - BY REGIONS
- 5.7.1 NORTH AMERICA
- 5.7.2 EUROPE
- 5.7.3 ASIA PACIFIC
- 5.7.4 MIDDLE EAST AND AFRICA
- 5.7.5 SOUTH AMERICA
- 5.8 EMERGING TECHNOLOGICAL TREND ANALYSIS
- 5.8.1 KEY TRENDS ANALYZED
- 5.8.1.1 ADVANCED BIOMETRIC SECURITY IN DIGITAL BANKING
- 5.8.1.2 BANKING-AS-A-SERVICE (BAAS)
- 5.8.1.3 EXPANSION OF DIGITAL LENDING AND BNPL
- 5.8.2 REGIONAL/ COUNTRY LEVEL KEY TRENDS ANALYZED
- 5.8.2.1 NORTH AMERICA
- 5.8.2.2 EUROPE
- 5.8.2.3 ASIA PACIFIC
- 5.8.2.4 MIDDLE EAST AND AFRICA
- 5.8.2.5 SOUTH AMERICA
- 5.9 ECONOMIC IMPACT ANALYSIS
- 5.9.1 DIGITAL BANKING ENHANCES PUBLIC SECTOR EFFICIENCY
- 5.9.2 RISK AND STABILITY CONSIDERATIONS
- 5.9.3 FINANCIAL INCLUSION
- 5.9.4 COST EFFICIENCY AND PROFITABILITY FOR INSTITUTIONS
6 GLOBAL DIGITAL BANKING MARKET, BY BANKING TYPE
- 6.1 OVERVIEW
- 6.2 RETAIL BANKING
- 6.3 CORPORATE BANKING
- 6.4 INVESTMENT BANKING
- 6.5 ETHICAL/SOCIALLY RESPONSIBLE BANKING
7 GLOBAL DIGITAL BANKING MARKET, BY SOLUTION
- 7.1 INTRODUCTION
- 7.2 ONLINE BANKING PLATFORMS
- 7.3 MOBILE BANKING APP
- 7.4 DIGITAL WALLETS
- 7.5 PEER-TO-PEER (P2P) PAYMENT APPS
- 7.6 CONTACTLESS PAYMENTS
- 7.7 OTHERS
8 GLOBAL DIGITAL BANKING MARKET, BY OPERATING TYPE
- 8.1 INTRODUCTION
- 8.2 INTERNATIONAL BANKING
- 8.3 DOMESTIC BANKING
9 GLOBAL DIGITAL BANKING MARKET, BY DEPLOYMENT MODEL
- 9.1 INTRODUCTION
- 9.2 CLOUD BASED
- 9.3 ON PREMISES
10 GLOBAL DIGITAL BANKING MARKET, BY ORGANIZATION SIZE
- 10.1 INTRODUCTION
- 10.2 SMES
- 10.3 LARGE ENTERPRISES
11 GLOBAL DIGITAL BANKING MARKET, BY REGION
- 11.1 OVERVIEW
- 11.1.1 GLOBAL DIGITAL BANKING MARKET, BY REGION, 2019-2035 (USD MILLION)
- 11.2 NORTH AMERICA
- 11.2.1 US
- 11.2.2 CANADA
- 11.2.3 MEXICO
- 11.3 EUROPE
- 11.3.1 GERMANY
- 11.3.2 UK
- 11.3.3 FRANCE
- 11.3.4 RUSSIA
- 11.3.5 ITALY
- 11.3.6 SPAIN
- 11.3.7 REST OF EUROPE
- 11.4 ASIA-PACIFIC
- 11.4.1 CHINA
- 11.4.2 INDIA
- 11.4.3 JAPAN
- 11.4.4 SOUTH KOREA
- 11.4.5 MALAYSIA
- 11.4.6 THAILAND
- 11.4.7 INDONESIA
- 11.4.8 REST OF ASIA PACIFIC
- 11.5 MIDDLE EAST AND AFRICA
- 11.5.1 GCC COUNTRIES
- 11.5.2 SOUTH AFRICA
- 11.5.3 REST OF MIDDLE EAST AND AFRICA
- 11.6 SOUTH AMERICA
- 11.6.1 BRAZIL
- 11.6.2 ARGENTINA
- 11.6.3 REST OF SOUTH AMERICA
12 COMPETITIVE LANDSCAPE
- 12.1 INTRODUCTION
- 12.2 COMPETITOR DASHBOARD
- 12.3 COMPANY MARKET SHARE ANALYSIS, 2024 (USD MILLION)
- 12.4 KEY RECENT DEVELOPMENTS & GROWTH STRATEGIES
- 12.4.1 KEY RECENT DEVELOPMENTS & GROWTH STRATEGIES
13 COMPANY PROFILES
- 13.1 ALKAMI TECHNOLOGY, INC.
- 13.1.1 COMPANY OVERVIEW
- 13.1.2 FINANCIAL OVERVIEW
- 13.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.1.4 KEY DEVELOPMENTS
- 13.1.5 SWOT ANALYSIS
- 13.1.6 KEY STRATEGIES
- 13.2 BACKBASE
- 13.2.1 COMPANY OVERVIEW
- 13.2.2 FINANCIAL OVERVIEW
- 13.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.2.4 KEY DEVELOPMENTS
- 13.2.5 SWOT ANALYSIS
- 13.2.6 KEY STRATEGIES
- 13.3 EDGEVERVE SYSTEMS LIMITED
- 13.3.1 COMPANY OVERVIEW
- 13.3.2 FINANCIAL OVERVIEW
- 13.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.3.4 KEY DEVELOPMENTS
- 13.3.5 SWOT ANALYSIS
- 13.3.6 KEY STRATEGIES
- 13.4 NCINO
- 13.4.1 COMPANY OVERVIEW
- 13.4.2 FINANCIAL OVERVIEW
- 13.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.4.4 KEY DEVELOPMENTS
- 13.4.5 SWOT ANALYSIS
- 13.4.6 KEY STRATEGIES
- 13.5 ORACLE
- 13.5.1 COMPANY OVERVIEW
- 13.5.2 FINANCIAL OVERVIEW
- 13.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.5.4 KEY DEVELOPMENTS
- 13.5.5 SWOT ANALYSIS
- 13.5.6 KEY STRATEGIES
- 13.6 Q2 SOFTWARE, INC.
- 13.6.1 COMPANY OVERVIEW
- 13.6.2 FINANCIAL OVERVIEW
- 13.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.6.4 KEY DEVELOPMENTS
- 13.6.5 SWOT ANALYSIS
- 13.6.6 KEY STRATEGIES
- 13.7 TEMENOS
- 13.7.1 COMPANY OVERVIEW
- 13.7.2 FINANCIAL OVERVIEW
- 13.7.3 PRODUCTS/SOLU TIONS/SERVICES OFFERED
- 13.7.4 KEY DEVELOPMENTS
- 13.7.5 SWOT ANALYSIS
- 13.7.6 KEY STRATEGIES
- 13.8 FNZ GROUP
- 13.8.1 COMPANY OVERVIEW
- 13.8.2 FINANCIAL OVERVIEW
- 13.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.8.4 KEY DEVELOPMENTS
- 13.8.5 SWOT ANALYSIS
- 13.8.6 KEY STRATEGIES
- 13.9 CREALOGIX AG
- 13.9.1 COMPANY OVERVIEW
- 13.9.2 FINANCIAL OVERVIEW
- 13.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.9.4 KEY DEVELOPMENTS
- 13.9.5 SWOT ANALYSIS
- 13.9.6 KEY STRATEGIES
- 13.10 FISERV, INC.
- 13.10.1 COMPANY OVERVIEW
- 13.10.2 FINANCIAL OVERVIEW
- 13.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.10.4 KEY DEVELOPMENTS
- 13.10.5 SWOT ANALYSIS
- 13.10.6 KEY STRATEGIES
- 13.11 JACK HENRY AND ASSOCIATES, INC.
- 13.11.1 COMPANY OVERVIEW
- 13.11.2 FINANCIAL OVERVIEW
- 13.11.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.11.4 KEY DEVELOPMENTS
- 13.11.5 SWOT ANALYSIS
- 13.11.6 KEY STRATEGIES
- 13.12 FIDELITY NATIONAL INFORMATION SERVICES, INC.
- 13.12.1 COMPANY OVERVIEW
- 13.12.2 FINANCIAL OVERVIEW
- 13.12.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.12.4 KEY DEVELOPMENTS
- 13.12.5 SWOT ANALYSIS
- 13.12.6 KEY STRATEGIES
- 13.13 CANDESCENT
- 13.13.1 COMPANY OVERVIEW
- 13.13.2 FINANCIAL OVERVIEW
- 13.13.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.13.4 KEY DEVELOPMENTS
- 13.13.5 SWOT ANALYSIS
- 13.13.6 KEY STRATEGIES
- 13.14 FINASTRA
- 13.14.1 COMPANY OVERVIEW
- 13.14.2 FINANCIAL OVERVIEW
- 13.14.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.14.4 KEY DEVELOPMENTS
- 13.14.5 SWOT ANALYSIS
- 13.14.6 KEY STRATEGIES
- 13.15 SOPRA
- 13.15.1 COMPANY OVERVIEW
- 13.15.2 FINANCIAL OVERVIEW
- 13.15.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
- 13.15.4 KEY DEVELOPMENTS
- 13.15.5 SWOT ANALYSIS
- 13.15.6 KEY STRATEGIES