Market Overview: Growing use of mobile phones and high-speed internet combined with various government initiatives may create more opportunities for the digital banking market
The North America digital banking market was valued at USD 376.2 billion in 2019 and is estimated to reach USD 721.3 billion by 2027, at an 8.48% CAGR.
Technological advancements such as the integration of blockchain technology are helping to strengthen the global digital banking market.
Virtual Payment Cards ➢ Contactless Payments ➢ Risk and Cybersecurity management ➢ Mobile standards and AI ➢ Real-time payments ➢ Customer Support Chabot’s ➢ Algorithmic Trading ➢ Biometric Authentication in Banking
Growth Drivers for BFSI Players:
Digital payments are increasing dramatically due to the pandemic, and key players are investing in digital payments to improve transaction speed.
Mobile phone & Internet:
The global adoption of mobile phones and internet penetration drives additional customer-centric products and services, resulting in a better customer experience in growing markets.
Digital Banking operation:
The cost-efficiency and ease of use advantages of digital banking over traditional banking systems are the market drivers for the digital banking market.
RBC | Scotiabank | Goldman Sachs | Met Life | Bank of America | Citi | Wells Fargo