Digital banking market to hit $30.1bn by 2026

The global digital banking market will hit $30.1 billion by 2026 up from $18.1 billion in 2022, a study by Global Industry Analysts Inc shows. According to a press release, the market will also grow at a Compound Annual Growth (CAGR) rate of 15.7 per cent over the analysis period.

The statement indicates that retail banking, one of the segments analyzed in the report, is projected to grow at a 14.3per cent CAGR to reach $14.3 billion by the end of the analysis period. It further shows that the impact of Covid-19 and its induced economic crisis, resulted in the report revising growth in the corporate banking segment to 18.4 per cent CAGR for the next 7-year period. It notes that this segment currently accounts for a 34.8 per cent share of the global digital banking market.

On mobile banking, the statement said: “The mobile banking sector has emerged as a channel to attract new customers and generate revenues. Several banks use the mobile channel as a strategic differentiator, as customers can use this channel to avail anywhere, anytime access to a wide range of banking products and services. Mobile platform is also considered as an essential service by financial institutions to compete effectively in the market. “Mobile phones are increasingly being used to carry out banking related functions, for instance balance inquiries.

Banks can reduce costs associated with call center operations by reducing transaction time and cost, and in the process ensure customer satisfaction. “Mobile banking is emerging as a mainstream consumer banking channel, as against its earlier status as a niche segment. Mobile banking services are used for make payments, money transfers including accountto- account transfers, access account information, opening accounts, applying for credit extension or loans, locating bank branches or ATMs, make investments, and access content services.




Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...




%d bloggers like this:
Fake Richard Mille Replica Watches, The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica