The Latin America, Middle East and Africa Digital Banking Platform Market would witness market growth of 18.9% CAGR during the forecast period (2020-2026).
The personal taste of customers while availing banking services is changing fast towards mobile and online banking. A large number of people are also using smartphone phones or mobile browsers to access their bank accounts. Banks must therefore ensure that they respond to changing banking networks for delivery, cross-selling and up-selling to mobile customers. Digital banking platforms allow the bank to step into the digital world through easily adaptable and customized solutions. Interactive mobile banking applications and websites give rise to improved customer service and improve customer loyalty. In the near future, the growing demand for smartphones will drive the number of digital banking customers, which in turn will fuel demand for the digital banking platform solution among banks.
Over the years, the demand for digital channel platforms has shifted dramatically from online and mobile banking specific solutions to digital channel banking agnostic platforms. The advanced and sophisticated digital banking platform is highly flexible and allows a wide range of different banking services to be integrated into a large and interactive user interface (UI) or customer experience. The factor is very much responsible for the high degree of traction of businesses in digital banking worldwide.
In addition, banks are now under intense pressure to improve operational efficiencies and rising banking costs while providing innovative next-generation digital banking services. Digital banking platform vendors are now creating digital and digital banking applications to meet both banking and consumer needs. It involves the need for channel integration support and diverse customer experience to make core banking easier to achieve, as well as on apps that consumers choose to use or are of interest and affordability.
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Type, the market is segmented into Retail Banking and Corporate Banking. Based on Banking Mode, the market is segmented into Online Banking and Mobile Banking. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infosys Limited (EdgeVerve Systems), Fidelity Information Services (FIS), Inc., Fiserv, Inc., Oracle Corporation, SAP SE, Temenos AG, The Bank of New York Mellon Corporation, Appway AG, COR Financial Solutions Ltd., and VSoft Corporation.
Scope of the Study
By Deployment Type
• Retail Banking
• Corporate Banking
By Banking Mode
• Online Banking
• Mobile Banking
• Saudi Arabia
• South Africa
• Rest of LAMEA
• Infosys Limited (EdgeVerve Systems)
• Fidelity Information Services (FIS), Inc.
• Fiserv, Inc.
• Oracle Corporation
• SAP SE
• Temenos AG
• The Bank of New York Mellon Corporation
• Appway AG
• COR Financial Solutions Ltd.
• VSoft Corporation
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