As per a report from TechSci Research titled "Global Digital Banking Platform Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the global digital banking platform is poised for substantial growth, projecting a robust CAGR of 13.82% through 2028. Major banks are increasingly adopting digital banking platforms due to the associated advantages, including cost reduction, rapid time-to-market, open banking, configurable capabilities, omnichannel customer experience, and microservice architecture.

In December 2022, Deloitte collaborated with AWS to address the banking sector's digital transition challenges. Although neo-banks remain niche, they are gaining market share, providing services at a fraction of traditional banks' cost. Fintechs target specific value chain niches, while big tech players with extensive customer bases pose a threat, prompting incumbents to invest heavily in innovation.

Techsci Research: https://www.techsciresearch.com/report/digital-banking-platform-market/3630.html 

The report provides extensive market data and an in-depth table of contents on the global digital banking platform market. The cloud segment is anticipated to dominate deployment, exemplified by GoTyme Bank's collaboration with Mambu in January 2023 to enhance Filipinos' access to financial services. Cloud-based services enable banks to reduce IT infrastructure costs, deploy new products rapidly, scale infrastructure, and ensure compliance and security standards.

The adoption of cloud infrastructure by mobile banking platforms facilitates a responsive user interface, supporting the entire banking journey on mobile devices. Banks are increasingly embracing mobile banking platforms, aligning with changing customer preferences. The rise of third-party applications like Whatsapp Pay and PhonePay contributes to the demand for reliable cloud infrastructure.

North America plays a pivotal role in the global digital banking platform market, driven by the presence of major banks and a growing preference for digital banking. The region's innovative use of blockchain technology enhances security and fosters market growth. The steady rise in digital banking usage correlates with the surge in fintech apps, notably accelerated by the COVID-19 pandemic, leading to increased digital banking across the United States.

Key market players in the Global  Digital Banking Platform Market are the following:

• Appway AG

• CREALOGIX Holding AG

• EdgeVerve Systems Limited

• Fiserv, Inc.

• Oracle Corporation

• SAP SE

• Sopra Steria

• Tata Consultancy Services Limited

• Temenos Headquarters SA

• Worldline SA

Download Free Sample Report: https://www.techsciresearch.com/sample-report.aspx?cid=3630 

Customers can also request 10% free customization on this report.

The report emphasizes the market's driving factors, including increasing consumer demand for convenient digital services, mobile-first approaches, open banking initiatives, APIs, enhanced security measures, regulatory changes, fintech disruption, and the impact of the COVID-19 pandemic. It concludes by affirming that the global digital banking platform market is driven by continuous investments in digital infrastructure to meet evolving customer needs in an increasingly digital world.

Contact Us

TechSci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

M: +13322586602

Email: sales@techsciresearch.com

Website: www.techsciresearch.com