Digital Banking Market Outlook to 2024: What will be the Future Growth Opportunities in Global Industry

Despite being a fairly nascent vertical, digital banking market has received a commendable boost in the last half a decade, given that the concept has been a rage among financial institutions. Having already embarked on the voyage of a digital revolution, financial institutions and banks continue to foray into the digitalization landscape of the banking sector and employ the much needed technological infrastructure for amplified convenience and superior transactional security.
On account of the current stance held by digital banking, it is highly presumable that there would be a decrease in the number of physical bank branches operating universally. A report by Global Market Insights, Inc., claims that digital banking market is projected to surpass USD 9 trillion by 2024 year end, majorly propelled by factors such as increasing investment in the financial technology sector and the spectacular advantages of digital transactions over traditional ones.
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Growth drivers: - 
  1. Changing customer behavior
  2. Increasing investment in fintech
  3. Supportive government policies
  4. Growth of e-commerce industry
  5. Rising adoption of electronic and mobile payment solutions
Of late, digital banking market trends have also been witnessing a commendable transformation on account of increased innovative banking solutions that utilize and streamline data, digital technologies, advanced analytics, and novel delivery platforms. On the global front, many organizations can be seen modernizing operations, escalating services, re-configuring distribution channels, proffering proactive assistance, integrating payments, and utilizing blockchain technology to uphold their position in the overall digital banking industry. Asia Pacific is dominating the market with over 60% stake in 2017. The growing penetration of internet services and the adoption of smartphones are supporting market growth. Moreover, the digitalization initiatives launched by the government of emerging economies including India and China will also foster the demand for digital banking. The global digital banking industry valuation is set to experience a commendable surge, as technology and banking behemoths worldwide come together to revolutionize the financial business space. Looking at the path-breaking innovations that are dominating the digital banking marketplace at present, it is likely that banks will soon expedite new mobile application and voice-driven device testing to boost both delivery & contextual personalization. Make an Inquiry for purchasing this Report @ Basically, customer interest will always be the core of all initiatives pertaining to digital banking. Seamless connectivity, virtually zero error, low transaction cost, and abbreviated turnaround time are among the many benefits of espousing the digital channels besides being extremely secure. As financial technologies evolve consistently, the banking domain will keep accelerating investments in innovation and digital enhancements, which would in turn stimulate digital banking market trends.