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Digital Banking market share research by applications and regions for 2018-2024?The North American region is leading the digital banking market due to its early adoption of technology and the high density of smartphone users. For instance, the population aged between 20-30 was the first to have access to broadband connections in their houses or own a smartphone in middle school, resulting in a better understanding of the digital media. Europe has emerged as the second largest revenue generator in the global digital banking market. High literacy rate and knowledge of mobile and internet banking services are the major contributors to the growth in the region. Digital Banking Market size is driven by the technological advancements in the banking sector. The advent of the interactive services with fewer clicks and customized product offerings have led to a rise in the mobile banking, contributing to the market growth. For instance, mobile applications and websites that save customer data and offer real-time personalized services in response to changing customer habits. Furthermore, the omnichannel product experience that allows customers to initiate the transaction on a device and complete on another is one of the factors that drive the market. This has led to a responsive web design with a source code that adjusts based on the limitations of the screen or device. Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/2651 The partnership and collaboration between the banks and fintech companies are the primary factors supporting the market. Most banks have launched their own online services to cater to the demand for the digital banking solutions. They are collaborating with the fintech companies and online service providers to enhance their customer base. For instance, in 2016, Clydesdale Bank & Yorkshire Bank collaborated to launch “B”, a bank operating online only which provides a current account with debit and credit card facilities and contactless payment through mobile wallets such as Apple Pay and Android Pay. Other banks, such as Commercial Bank of Dubai, HSBC, and BNP Paribas, have also launched their online banking services to capitalize the growth in the fintech industry. The payment verticals in the digital banking market are banking cards, Unstructured Supplementary Service Data (USSD), Uniform Payment Interface (UPI), mobile wallets, Point Of Sale (POS), mobile banking, internet banking, and micro ATMs. The banking cards and internet banking applications are estimated to experience a high growth due to their widespread acceptance among business enterprises and merchants. The multichannel payment options offered by these payment methods have also contributed to their growth. Mobile wallets are the fastest growing payment verticals due to their convenience and widespread acceptance. Some of the industry verticals in which digital banking has been adopted are retail, corporate, and investments. The cost reduction, improved customer focus, and analytics for better understanding the customer needs are driving the market growth. However, the increasing cybercrimes and lack of awareness are the factors hindering the growth in the market. Furthermore, internet connectivity issues are also one of the major constraints associated with the growth of the market. Asia Pacific is the fastest growing digital banking market due to the increasing urban population and growing economy in developing countries including India and China. The wide adoption of the mobile wallets in this region is helping the market to grow in developing countries. For instance, Alipay, a smartphone mobile wallet, has collaborated with financial institutions such as Mastercard and Visa and operates across China in approximately 460,000 online and local stores, dominating the Chinese market. Similarly, Paytm, a mobile wallet has launched Paytm bank, which is a separate entity allowing them to launch debit cards, online banking, and mobile banking services. Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2651 Some of the major players operating in the digital banking market are Mobllearth, Infosys (Innofis, Cachet Financial Solutions, Backbase, Urban FT, Inc., Kony, Technisys (FMC Technologies subsidiary), Alipay, Paytm, Ally financial, JPMorgan Chase & Co., and Wells Fargo. The companies operating in the digital banking market are emphasizing on modifying the distribution model and collaborating with digital service providers. For instance, Sweden’s SEB bank has partnered with the Samsung Pay a mobile wallet provider, allowing the customers to carry cards in the mobile wallet in Sweden. Similarly, Canada’s Nordia, a card service provider partnered with Apple Pay allows customers contactless payments through their iPhones. About Global Market Insights: Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 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