Global Mobile Digital Banking Market by Type (BaaS (Banking as a Service), BaaP (Banking as a Platform), Cloud-Based), By Application (Retail Digital Banking, SME Digital Banking, Corporate Digital Banking) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global mobile digital banking market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for mobile banking solutions among consumers and businesses alike. In addition, the growing trend of cloud-based deployments is also contributing significantly to the growth of this market. By type, the global mobile digital banking market can be segmented into BaaS (banking as a service), BaaP (banking as a platform), and cloud-based solutions. Among these, BaaS solutions are expected to witness highest growth during the forecast period owing to their ability to provide enhanced customer experience along with cost savings for banks. By application, retail digital banking, SME digital banking, and corporate digital banking are some of the key segments in this market. Retail digital banking is currently witnessing highest adoption among consumers due to its convenience and ease-of-use.



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Product Definition:

Mobile digital banking is the use of a mobile device to conduct financial transactions. This can include checking account balances, transferring money, and making payments. Mobile digital banking is important because it allows people to bank on the go. This can be especially helpful for people who are busy or do not have time to go to a physical bank branch.

BaaS (Banking as a Service):

BaaS (Banking as a Service) is an emerging trend in the Mobile Digital Banking market. It's a new model of banking that allows customers to perform basic financial transactions using smartphones and other mobile devices. BaaS also provides account opening, payment, and billing functionality on mobile phones without requiring users to install additional modules or buy software separately.

BaaP (Banking as a Platform):

BaaP (Banking as a Platform) is an open source software license that allows banks to develop their own applications and services. It also gives them the freedom to use third-party applications and services, such as payment gateways, without having to pay for each component. The BaaP model is based on three Pillars: the Bank Application Programming Interface (API), the Customer Application Programming Interface (CAPI), and the Process API.

Application Insights:

The corporate digital banking segment accounted for the largest revenue share in 2017 and is anticipated to continue its dominance over the forecast period. The growth can be attributed to factors such as increasing demand from SMEs for innovative services, growing adoption of m-banking solutions by large enterprises, and an increase in cloud infrastructure spending by corporates.

The retail digital banking segment is expected to register a significant CAGR during the forecast period owing to increased penetration of smartphones, which has resulted in improved accessibility of customers¢â‚¬â„¢ data across all channels including internet, mobile phones and tablets. Furthermore, reduction or waiver of transaction fees by banks has aided retailers/brick-and-mortar stores in adopting digital payment modes resulting in reduced cash circulation at store level thus fueling industry growth. However, corporate accounts are preferred over retail accounts due to larger transactions that require higher security measures leading to fewer users within this sector.

Regional Analysis:

The market in Asia Pacific is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing smartphone penetration, rising adoption of internet services and digital applications on mobile phones, and enhanced network connectivity. Furthermore, the growing number of retail customers using their smartphones for online banking is anticipated to drive regional market growth over the forecast period.

The industry in Europe has been witnessing healthy growth since past few years owing to increased demand for innovative financial technologies that offer convenience and flexibility. Moreover, presence of major technology providers such as IBM Corporation; Deutsche Bank AG; Banco Santander SA; BNP Paribas; Citigroup Inc.; HSBC Holdings PLC.

Growth Factors:

Increasing demand for mobile banking from the retail sector as it offers convenience and easy access to account information.
Proliferation of smartphones and tablets, which is driving the demand for mobile banking applications.
The increasing trend of online shopping is also contributing to the growth of mobile banking market as retailers are offering discounts and other benefits to customers for using mobile devices for transactions.
Rising awareness about the benefits of mobile banking among consumers is also propelling the market growth.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Mobile Digital Banking Market Research Report
By Type
BaaS (Banking as a Service), BaaP (Banking as a Platform), Cloud-Based
By Application
Retail Digital Banking, SME Digital Banking, Corporate Digital Banking
By Companies
Kony, Backbase, Technisys, Infosys, Digiliti Money, Innofis, Mobilearth, D3 Banking Technology, Alkami, Q2, Misys, SAP
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.

Global Mobile Digital Banking Market Report Segments:
The global Mobile Digital Banking market is segmented on the basis of:
Types
BaaS (Banking as a Service), BaaP (Banking as a Platform), Cloud-Based
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
Retail Digital Banking, SME Digital Banking, Corporate Digital Banking
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:
Kony
Backbase
Technisys
Infosys
Digiliti Money
Innofis
Mobilearth
D3 Banking Technology
Alkami
Q2
Misys
SAP



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Highlights of The Mobile Digital Banking 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:
BaaS (Banking as a Service)
BaaP (Banking as a Platform)
Cloud-Based
By Application:
Retail Digital Banking
SME Digital Banking
Corporate Digital Banking
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 Mobile Digital Banking 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

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