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Digital Banking Market to see 4% growth to hit US$9000 Billion by 2024

Author : Ronak Bora | Published Date : 2019-03-21 

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.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Appway
  • Backbase 
  • BNY Mellon 
  • CREALOGIX 
  • ebanklT
  • ETRONIKA
  • Fidor Solutions
  • Finastra 
  • Fiserv
  • Halcom D.D.
  • ieDigital
  • Intellect Design Arena 
  • Kony
  • NETinfo 
  • NF Innova
  • Oracle 
  • SAB
  • SAP SE
  • Sopra 
  • TCS 
  • Technisys
  • Temenos 
  • Worldline 

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One-of-its-kind digital banking lobby introduced by J&K Bank

J&K Bank recently in 2019, inaugurated a one-of-its-kind digital banking lobby known as the Apex Digital Lobby, in the Indian city Srinagar, which is fully equipped with world-class digital banking facilities to virtually hand over banking operations to the fingertips of customers. The Apex Digital Lobby offers the best-in-class digital infrastructure inclusive of sophisticated machines such as Interactive Banking Kiosk, Cash Recycler, Cheque Drop Machine, POS Terminals, Passbook Printing Kiosk, along with a mobile application ‘mPayfor’  for matchless transactional efficacy.

BNY Mellon & Deutsche Bank endorse co-developed chatbot for stock traders

Deutsche Bank and BNY Mellon are integrating a new chatbot developed on the Symphony platform to augment the seamlessness and efficiency of the flow of information for customers trading stocks on the Hong Kong Stock Exchange or HKEX. The mutually developed chatbot-to-chatbot communication solution would potentially replace manual replies to status updates on clients’ stock trades on the messenger Symphony. Upon systematic digital banking market analysis, it can be concluded that the processes which previously took about three minutes for every single trade would now be accomplished in bulk in real-time by these innovative chatbots.

Transactional services account for more than 90% share in the digital banking market. The market growth is credited to the growing adoption of electronic & mobile payment solutions. As the younger population across the countries is increasing, the demand for faster, convenient, and safer payment solutions is also rising. This is encouraging banking institutes to develop their own mobile & online platforms and provide services on the digital channel to gain customer loyalty and reduce the churn rate.

Browse Full Report: www.gminsights.com/industry-analysis/digital-banking-market

The key vendors operating in the digital banking market are Backbase, BNY Mellon, Appway Crealogix, EdgeVerve Systems, ebanklT ETRONIKA, Finastra, Fiserv, Fidor, IE Digital, Halcom Intellect Design Arena, NETinfo, NF Innova, Kony, SAB, SAP, Oracle, Sopra, TCS, Technisys, Tagit, Worldline, and Temenos.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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