The Germany digital banking market is estimated to grow at a significant growth rate of 8.8% over the forecast period to hit over $2.4 billion in 2025 from nearly $1.3 billion in 2018. The German economy lost momentum considerably in 2018. Since then, the GDP growth of the country has been low. The trade conflicts have resulted in a high level of uncertainty that has hit the German industry. However, the service sector is supporting German economic growth. In 2019, GDP growth in Germany was expected to be only 0.7%, after around 2% on average over the last five years, according to the European Banking Federation.
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The German banking sector has continued to face challenges in 2019. One of the biggest long-term problems faced by the German banking sector is the proliferation of small lenders. The income of the banking sector of the country continues to be threatened by new global market entrants such as ING, which are minimizing costs by shifting towards an online business model. Germany is lagging behind as compared to other European countries in terms of using internet banking. According to Eurostat study from 2017, Germany ranked 14th out of 28 EU member states for overall internet banking use (56%), way behind Denmark (90%), Finland (87%) and the Netherlands (89%).
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The Germany digital banking market is segmented on the basis of type and solution. Based on type, the market is classified into corporate banking, investment banking, and retail banking. Retail banking held the largest share in 2018 and is expected to maintain its dominance during the forecast period. Retail banking involves a wide range of services, including saving accounts, personal loans, mortgages, certificates of deposit (CDs) and investment and fund management. Rising demand for internet banking among individuals to manage their accounts and conduct financial transactions is primarily contributing to the growth of the segment. Based on solution, the market is classified into processing services, payment solutions, customer and channel management, and risk management.
Germany Digital Banking Market Segmentation
• Corporate Banking
• Investment Banking
• Retail Banking
• Processing Services
• Customer and Channel Management
• Risk Management
• ACI Worldwide, Inc.,
• Appway AG
• Atos SE
• Backbase BV
• Capital Banking Solutions
• CERALOGIX AB
• Computer Services, Inc.
• Cor Financial Solutions Ltd.
• EBANKIT-OMNICHANNEL INNOVATION, S.A.
• Etronika UAB
• Fidor Solutions AG
• Fiserv, Inc.
• Halcom d.d.
• Intellect Design Arena Ltd.
• Microsoft Corp.
• NCR Corp.
• NETinfo PLC
• NETinfo PLC
• New Frontier Innova d.o.o Beograd
• Oracle Corp.
• SAB Group
• SAP SE
• Sopra Steria Group
• Tata Consultancy Services Ltd.
• Technisys SA
• Temenos SA
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