Europe digital banking platform market is expected to grow from US$ 935.7 Mn in 2018 to US$ 2340.3 Mn by the year 2027. This represents a CAGR of 11.0% from the year 2018 to 2027.

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Digital transformation or digitization of businesses refers to the integration of digital technology in various business processes, organizational activities, and business models. End-To-End business process optimization, increased operational efficiency, improved customer experience, and reduced costs are few of the factors driving the digital transformation in the banking industry. The increasing digital transformation revolution in banking industry presents a massive opportunity for digital banking platform providers as they enable banks to launch digital services faster and enhance the customer experience. In addition to this, the proliferation of smart devices, easy availability of internet, the advancement of IoT, and artificial intelligence have been increasing exponentially which is further leading to the increasing need of mobile/digital-first strategy among banks. The paradigm shift of banks from traditional channels to digital and automated channels results in multiple benefits ranging from improved efficiency to reduced cost and increased revenue opportunities. In addition to this, the rising technological advancements in cloud computing and storage technology, the power of cloud-based digital banking platforms has increased multi-fold during the past few years.

Currently, Germany is dominating in the Europe digital banking platform market owing to the strong presence of the banking industry in the country. Factors such as growing digitization across BFSI sector and rising demand for mobile banking solutions are contributing substantially towards the growth of the digital banking platform market in Europe. The figure is given below highlights the revenue share of the rest of Europe in the Europe digital banking platform market in the forecast period:

Europe Digital banking platform Strategic Insights

Strategic insights for the Europe Digital banking platform provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Market leaders and key company profiles

  Appway AG

  CREALOGIX Holding AG

  EdgeVerve Systems Limited

  Fiserv, Inc.

  Oracle Corporation

  SAP SE

  Sopra Steria

  Tata Consultancy Services Limited (TCS)

  Temenos Headquarters SA

  Worldline SA

Europe Digital banking platform Regional Insights

The geographic scope of the Europe Digital banking platform refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights