Market Highlights
The global market of digital banking around the world is growing rapidly. High technology proliferation and support heavy investment by the companies operating in the technology service are helping in the development of efficient cashless system. Many banks around the world are adopting cashless policies for various areas such as payments, transfers among other things. Increasing use of internet and smartphones to do the banking transaction are result of digital banking which makes the task easy and more transparent.

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Digital banking is also helping the banking system in the management of records, data and retrieval of them. One of the major trends in this field is adoption of cloud for the management of data and use of it. Going digital helps the banks to monitor the each and every customer’s details and records more easily. Communication with customers for any announcement and revive feedback have become easy because of digital banking.

Whereas factors such as need of technical knowledge, growing security proliferation in BFIS industry among others are some of the restraints which is expected to slow the growth of overall market.

The Digital Banking Market is expected to grow at CAGR of around 8% between years 2016 to 2022.

The prominent players in the Digital Banking Market includes- Urban FT, Inc. (U.S.), Misys (U.K.), Kony, Inc. (U.S.), Backbase (Netherlands), Technisys (Subsidiary of FMC Technologies) (U.S), Infosys (Bangalore), Cachet Financial Solutions, Inc. (U.S), Innofis (Spain), Mobilearth (Canada), among other

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The other players operating in this market are- Nymbus, NLS Banking, IDEALINVENT Technologies, Capital Banking Solutions and among others.

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