North America Digital Banking Market Valuation to Exceed USD 800 Billion By 2026

September 09, 2021

According to the business intelligence report titled ‘North America Digital Banking Market Forecast 2026 By Type, By Service, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, North America digital banking market is projected to expand significantly with the valuation surpassing USD 800 billion by 2026.

Development of innovative banking technologies, adoption of mobile devices with convenience of transaction process, and introduction of advanced products & services by banks to enhance customer satisfaction are the key factors driving North America digital banking market trends.

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Surging demand for easier, faster, and more convenient banking services has encouraged banks to incorporate digital mediums into their daily operations which will aid revenue inflow.

Considering the COVID-19 pandemic, the lockdowns and movement restrictions announced by governments across the world have prompted financial institutions to adopt digital alternatives to ensure that customer base can use their services without disruptions, which has fueled market augmentation.

Based on services, transactional digital banking market segment is slated to grow substantially between 2020-2026, owing to surging consumer demand for more convenient methods to withdraw and deposit money. Financial institutions are launching innovative technologies which will save the consumers’ time and money.

Speaking of type, investment banking segment is speculated to expand at 7% CAGR through 2026, on account of rising use of digital technologies to make transaction process easier, and adoption of advanced technologies by banks to provide high-quality services to customers.

From the geographical frame of reference, Canada market is anticipated to witness significant growth between 2020-2026, due to increasing efforts by governments to enhance online banking functions, launch of advanced technologies, and creation of digital platforms by finance companies.

Key players profiled in North America digital banking industry report are Temenos AG, Appway AG, Technisys Inc., The Bank of New York Mellon Corporation, Tata Consultancy Services Limited, eBankIT Omnichannel Innovation SA, SAP SE, Finastra Limited, Oracle Corporation, Infosys Limited, Kony Inc., and Intellect Design Arena Limited.

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