Digital Banking Market Size, Share, Growth & Forecast 2019-2025Posted by Rishabh on August 19th, 2019 The Global digital banking market has significant potential in the overall digitization of all the traditional banking activities, programs, and functions. Digital banking includes the trend of web-based services and a high level of process automation through robotics technology and artificial intelligence (AI). The major opportunity that is being offered by the automation using robots and AI tools in the banking and finance industry include new levels of process efficiency, such as improved operational cost, accuracy, speed, and throughput volume. The opportunity for cost savings is the first place where AI and process automation will impact the overall banking industry. A full report of Global Digital Banking Marketis available at: https://www.omrglobal.com/industry-reports/digital-banking-market Factors Driving Digitization in Banking Beyond Cost Savings:
By implementing digitalization, banks can provide enhanced customer services. This offers convenience to customers and assists in saving time. Digital banking provides the luxury of freely accessing and performing all traditional banking activities 24*7 without having to personally visit a bank branch to get the work done. This shows that banking is more inclined towards automation than any other industry, owing to their increasing need to better focus on customers. Digital banking industry transforms the customer experience using innovative and advanced technology and thereby, delivers customer delight. Robotic Process Automation, and image processing technologies are such technological innovations that have brought in automation, at lower costs, and enhanced the customer experience significantly. Some of the applications of image processing technology include scanning of forms, automatic signature verification, photo bill pay, and instant and accurate data upload from physical forms. Such ease of operation propels the industry to adopt automation technologies. The payment industry has been one of the most dynamic areas of innovation in the digital banking industry. Traditional financial institutions, fintech firms, and big tech players are continuously bringing in innovation, impacted by changing consumer expectations and driven by technological advances. Innovations in the payment industry will occur together with the Internet of Things (IoT), mobile wallets, point of sale (POS), cryptocurrencies, and the blockchain. These innovations in the payment industry will enhance the experience of the customers served by the industry. Current Market Trends in the Banking Industry: Institutes are collaborating with FinTech companies to develop more customer-centric products and provide a better customer experience.
Global Digital Banking Market- Segmentation By Banking Type
By Solution
North America
Europe
Asia-Pacific
Rest of the World
Request a free sample of our report on Global Digital Banking Market: https://www.omrglobal.com/request-sample/digital-banking-market About Orion Market Research Orion Market Research (OMR) is an Indian research company known for its crisp and concise reports. The company is equipped with an experienced team and young brigade of analysts. The company provides quality syndicated research reports, customized research reports, company profiling, consulting and other research-based services. Media Contact: Company Name: Orion Market Reports Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +1 646-755-7667, +91 780-304-0404 Like it? Share it!More by this author |