The Asia-Pacific digital banking market is estimated to grow at a significant growth rate of around 10.0% over the forecast period to hit over $14.0 billion in 2025 from nearly $7.5 billion in 2018. Asia-Pacific is the fastest-growing region in the ICT sector due to its rapid transformation towards digital economies. The region comprises the fastest emerging economies including India and China. Growing digitalization in these emerging economies is creating enormous opportunities for the digital banking market in the region. Further, extensive support from the government organizations to encourage digital transactions in economies such as China, Japan, India, Australia, Indonesia, and others, is driving the trend towards advanced digital technologies in the banking sector.

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Various financial institutions are continuously working with tech giants to develop digital banking platforms in order to improve customer’s overall banking experience along with reducing potential threats of cyber-attacks. For instance, MUFG – Japan’s largest bank partnered with TCS Group to implement a Regional Payments Hub – powered by TCS BaNCS for payments. Moreover, the region is advancing towards digital banking technology to encourage its competitiveness and to create a potential business market in order to attract a huge amount of investment. Increasing internet accessibility and smartphone penetration are making people more open to exploring new payment methods that can replace cash.

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The Asia-Pacific digital banking market is segmented on the basis of type and solution. Based on type, the market is classified into corporate banking, investment banking, and retail banking. Retail banking held the largest share in 2018 and is expected to maintain its dominance during the forecast period. Retail banking involves a wide range of services, including saving accounts, personal loans, mortgages, certificates of deposit (CDs) and investment and fund management. Rising demand for internet banking among individuals to manage their accounts and conduct financial transactions is primarily contributing to the growth of the segment. Based on solution, the market is classified into processing services, payment solutions, customer and channel management, and risk management.

Furthermore, the market is characterized by the presence of several players including Tata Consultancy Services Ltd., Microsoft Corp., Oracle Corp., Fiserv Inc., FIS Global and many others. These players adopt various strategies in order to compete in the global industry. Mergers and acquisitions, product launch, geographical expansion, and partnerships and collaborations are some of the strategies adopted by the players.

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Asia-Pacific Digital Banking Market- Segmentation

by Type

• Corporate Banking
• Investment Banking
• Retail Banking

by Solution

• Processing Services
• Payment
• Customer and Channel Management
• Risk Management

Asia-Pacific Digital Banking Market– Segment by Region

• China
• Japan
• India
• Rest of Asia-Pacific

Company Profiles

• ACI Worldwide, Inc.,
• Appway AG
• Atos SE
• Backbase BV
• Capital Banking Solutions
• CERALOGIX AB
• EdgeVerve Systems Ltd.
• Etronika UAB
• Fidor Solutions AG
• Finastra
• Fiserv, Inc.
• Intellect Design Arena Ltd.
• Microsoft Corp.
• NCR Corp.
• Oracle Corp.
• SAB Group
• SAP SE
• Sopra Steria Group
• Tata Consultancy Services Ltd.
• Temenos SA

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