North America digital banking platform market is expected to grow from US$ 1.00 Bn in 2018 to US$ 2.76 Bn by the year 2027. This represents a CAGR of 12.1% from the year 2018 to 2027.
With changing customer preferences, today’s banks are shifting fast towards digital channels. Various banking services are now commonly available through convenient digital channels. However, in order to deliver exceptional customer experiences and survive in the highly competitive banking industry, banks need to move towards a much broader digital shift. In order to meet expectations of both digital and non-digital consumers, banks are now adopting omnichannel banking, which helps in maintaining traditional service channels and optimizing them to meet customer needs. To achieve this, traditional banks have started partnering and sharing data with new ecosystems, which include FinTechs, open banking, payment services directive, and SWIFT standards. In the global banking industry, digital disruption is gaining pace due to entry of online-only banks, and challenger banks. The collaboration between retail banks and emerging ecosystems help retail banks in better understanding changing consumer needs. The switching behavior among bank customers is extremely aggressive nowadays, and banks are forced to deliver better services and value to today’s empowered consumers. These new trends of collaborating and sharing information among banking ecosystem players to gain customer trust and improve customer’s digital experience is expected to boost the digital banking platform market during the forecast period of 2019 to 2027.
Currently, the U.S is dominating in the North America digital banking platform market owing to the high rate of adoption of new technologies in the region. Factors such as the growing popularity of mobile-based banking applications and increasing digitization across BFSI sector is contributing substantially towards the growth of the digital banking platform market in North America. The figure is given below highlights the revenue share of Mexico in the North America digital banking platform market in the forecast period:
NORTH AMERICA DIGITAL BANKING PLATFORM MARKET - SEGMENTATION
North America Digital Banking Platform Market by Type
Corporate Banking
Retail Banking
North America Digital Banking Platform Market by Deployment Type
On-Premise
Cloud
North America Digital Banking Platform Market by Country
U.S
Canada
Mexico
Companies Mentioned
Appway AG
Backbase
CREALOGIX Holding AG
EdgeVerve Systems Limited
Fiserv, Inc.
nCino, inc.
Oracle Corporation
SAP SE
Sopra Steria
Tata Consultancy Services Limited (TCS)
Worldline SA
North America Digital banking platform Market Strategic Insights
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North America Digital banking platform Market Segmentation Analysis
North America Digital banking platform Market Report Highlights
North America Digital banking platform Report Scope
Report Attribute
Details
Market size in 2018
US$ 1.00 Billion
Market Size by 2027
US$ 2.76 Billion
CAGR (2018 - 2027)
12.1%
Historical Data
2016-2017
Forecast period
2019-2027
Segments Covered
By Deployment
Cloud and On-Premise
By Type
Corporate Banking and Retail Banking
Regions and Countries Covered
North America
US
Canada
Mexico
Market leaders and key company profiles
Appway AG
Backbase
CREALOGIX Holding AG
EdgeVerve Systems Limited
Fiserv, Inc.
nCino, inc.
Oracle Corporation
SAP SE
Sopra Steria
Tata Consultancy Services Limited (TCS)
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North America Digital banking platform Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
How big is the North America Digital banking platform Market?
The North America Digital banking platform Market is valued at US$ 1.00 Billion in 2018, it is projected to reach US$ 2.76 Billion by 2027.
What is the CAGR for North America Digital banking platform Market by (2018 - 2027)?
As per our report North America Digital banking platform Market, the market size is valued at US$ 1.00 Billion in 2018, projecting it to reach US$ 2.76 Billion by 2027. This translates to a CAGR of approximately 12.1% during the forecast period.
What segments are covered in this report?
The North America Digital banking platform Market report typically cover these key segments-
Deployment (Cloud and On-Premise)
Type (Corporate Banking and Retail Banking)
What is the historic period, base year, and forecast period taken for North America Digital banking platform Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Digital banking platform Market report:
Historic Period : 2016-2017
Base Year : 2018
Forecast Period : 2019-2027
Who are the major players in North America Digital banking platform Market?
The North America Digital banking platform Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Appway AG
Backbase
CREALOGIX Holding AG
EdgeVerve Systems Limited
Fiserv, Inc.
nCino, inc.
Oracle Corporation
SAP SE
Sopra Steria
Tata Consultancy Services Limited (TCS)
Who should buy this report?
The North America Digital banking platform Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the North America Digital banking platform Market value chain can benefit from the information contained in a comprehensive market report.
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