Market Overview:
The global internet bank market is expected to grow at a CAGR of over 10% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for online banking services, rising adoption of smartphones and other mobile devices, and growing need for secured financial transactions. The internet bank market can be segmented on the basis of type into banking for corporate and banking for personal. Banking for corporate includes services such as online payment, invoice management, and others. Banking for personal includes services such as personal financial assistant (PFA), online investment, online shopping, and other financial services. Among these segments, the banking for corporate segment is expected to witness higher growth during the forecast period owing to increasing demand from small-and medium-sized businesses (SMBs) across different regions. On the basis of application, the internet bank market can be divided into PFA, online investment, online shopping, and other financial services. Among these applications segments PFA is projected to account highest share in terms revenue contribution by 2030 end followed by that of Online Investment Segment .
Product Definition:
An internet bank is a financial institution that conducts most or all of its banking activities online. Internet banks offer many of the same services as traditional banks, including checking and savings accounts, loans, and credit cards.
The importance of internet banking lies in its convenience and accessibility. Customers can access their accounts from any computer with an internet connection, making it easy to check balances, transfer funds, and make payments. In addition, online banking typically offers lower fees than traditional banks.
Banking for Corporate:
Banking for corporate is the process of providing banking facilities to companies. It helps them in managing their cash flow and financial transactions, which include buying/selling shares, paying bills, etc. Banking for corporations has been around for quite some time; however it has undergone a number of changes over the years in terms of technology and services offered as well as consumer expectations & needs.
The primary objective behind introducing banking facilities into the company is to enable smooth functioning between two parties i.
Banking for Personal:
Banking for personal is a service where the customers can open an account with the help of their national ID or passport and other supporting documents. The banking software allows users to create accounts, manage transactions, send and receive money as per their requirements.
The banks are using internet banking technology to provide online services for opening accounts, managing payments, transferring funds among different accounts at multiple institutions along with providing various additional services such as mobile banking and e-banking.
Application Insights:
The other financial services application segment accounted for the largest revenue share in 2017. This is attributed to the increasing adoption of internet banking by various organizations and individuals for undertaking transactions such as payment processing, e-commerce, remittance transfer and payroll services. The personal financial assistant application segment is expected to witness significant growth over the forecast period owing to rising demand from customers seeking advice on investment & savings options, insurance products and mortgages.
Online shopping was another prominent segment accounting for a substantial market share in 2017 owing to growing consumer preference towards online purchasing due to convenience along with price comparison features offered by many internet retailers. Internet banking has also enabled consumers access their accounts from remote locations or through mobile devices thereby boosting its usage in this regard among others.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing internet penetration, rising disposable income of consumers and a large number of players in this region. Moreover, growing adoption of smartphones and social media has given rise to online banking in this region.
North America held a significant share in the global market for internet banks in 2017 owing to high demand for innovative digital services from customers across U.S., Canada, and Mexico cities. Furthermore, presence of major players such as Citigroup Inc.; Wells Fargo & Company; JPMorgan Chase & Co.; Bank Of America Corporation; TD Bank Group; RBS Citizens Financial Group Inc.; Royal Bank Of Scotland plc will also contribute toward regional growth over next seven years till 2030 AD (2030 BS).
Growth Factors:
- Increasing demand for online banking services from consumers and businesses
- Proliferation of mobile devices and apps that make banking more convenient
- Rising concerns about data security and privacy, driving demand for more secure online banking solutions
- Expansion of global e-commerce activity, providing new opportunities for online banks to offer merchant services
- Growing interest in financial technology (fintech) startups and innovations, providing opportunities for Internet banks to partner or invest
Scope Of The Report
Report Attributes
Report Details
Report Title
Internet Bank Market Research Report
By Type
Banking for Corporate, Banking for Personal
By Application
Personal Financial Assistant, Online Investment, Online Shopping, Other Financial Services
By Companies
Kiwibank, BNZ, ANZ, Heartland Bank, CBI Bank, Axis Bank, HSBC HK, NAB, Leaders Credit Union, Sandhills Credit Union, Leader Bank, Swissquote
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
141
Number of Tables & Figures
99
Customization Available
Yes, the report can be customized as per your need.
Global Internet Bank Market Report Segments:
The global Internet Bank market is segmented on the basis of:
Types
Banking for Corporate, Banking for Personal
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal Financial Assistant, Online Investment, Online Shopping, Other Financial Services
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kiwibank
- BNZ
- ANZ
- Heartland Bank
- CBI Bank
- Axis Bank
- HSBC HK
- NAB
- Leaders Credit Union
- Sandhills Credit Union
- Leader Bank
- Swissquote
Highlights of The Internet Bank Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Banking for Corporate
- Banking for Personal
- By Application:
- Personal Financial Assistant
- Online Investment
- Online Shopping
- Other Financial Services
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Internet Bank Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Internet Bank is a financial institution that provides online banking and other financial services to consumers. It operates as a subsidiary of BBVA, one of the largest banks in the world. Internet Bank offers a variety of products, including checking accounts, savings accounts, loans, and credit cards.
Some of the key players operating in the internet bank market are Kiwibank, BNZ, ANZ, Heartland Bank, CBI Bank, Axis Bank, HSBC HK, NAB, Leaders Credit Union, Sandhills Credit Union, Leader Bank, Swissquote.
The internet bank market is expected to register a CAGR of 10%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Internet Bank Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Internet Bank Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Internet Bank Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Internet Bank Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Internet Bank Market Size & Forecast, 2018-2028
4.5.1 Internet Bank Market Size and Y-o-Y Growth
4.5.2 Internet Bank Market Absolute $ Opportunity
Chapter 5 Global Internet Bank Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Internet Bank Market Size Forecast by Type
5.2.1 Banking for Corporate
5.2.2 Banking for Personal
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Internet Bank Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Internet Bank Market Size Forecast by Applications
6.2.1 Personal Financial Assistant
6.2.2 Online Investment
6.2.3 Online Shopping
6.2.4 Other Financial Services
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Internet Bank Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Internet Bank Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Internet Bank Analysis and Forecast
9.1 Introduction
9.2 North America Internet Bank Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Internet Bank Market Size Forecast by Type
9.6.1 Banking for Corporate
9.6.2 Banking for Personal
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Internet Bank Market Size Forecast by Applications
9.10.1 Personal Financial Assistant
9.10.2 Online Investment
9.10.3 Online Shopping
9.10.4 Other Financial Services
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Internet Bank Analysis and Forecast
10.1 Introduction
10.2 Europe Internet Bank Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Internet Bank Market Size Forecast by Type
10.6.1 Banking for Corporate
10.6.2 Banking for Personal
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Internet Bank Market Size Forecast by Applications
10.10.1 Personal Financial Assistant
10.10.2 Online Investment
10.10.3 Online Shopping
10.10.4 Other Financial Services
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Internet Bank Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Internet Bank Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Internet Bank Market Size Forecast by Type
11.6.1 Banking for Corporate
11.6.2 Banking for Personal
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Internet Bank Market Size Forecast by Applications
11.10.1 Personal Financial Assistant
11.10.2 Online Investment
11.10.3 Online Shopping
11.10.4 Other Financial Services
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Internet Bank Analysis and Forecast
12.1 Introduction
12.2 Latin America Internet Bank Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Internet Bank Market Size Forecast by Type
12.6.1 Banking for Corporate
12.6.2 Banking for Personal
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Internet Bank Market Size Forecast by Applications
12.10.1 Personal Financial Assistant
12.10.2 Online Investment
12.10.3 Online Shopping
12.10.4 Other Financial Services
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Internet Bank Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Internet Bank Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Internet Bank Market Size Forecast by Type
13.6.1 Banking for Corporate
13.6.2 Banking for Personal
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Internet Bank Market Size Forecast by Applications
13.10.1 Personal Financial Assistant
13.10.2 Online Investment
13.10.3 Online Shopping
13.10.4 Other Financial Services
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Internet Bank Market: Competitive Dashboard
14.2 Global Internet Bank Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kiwibank
14.3.2 BNZ
14.3.3 ANZ
14.3.4 Heartland Bank
14.3.5 CBI Bank
14.3.6 Axis Bank
14.3.7 HSBC HK
14.3.8 NAB
14.3.9 Leaders Credit Union
14.3.10 Sandhills Credit Union
14.3.11 Leader Bank
14.3.12 Swissquote
