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    According to the Graphical Research new growth forecast report titled Europe Digital Banking Market share is set to exceed USD 2 billion by 2026. The digital transaction value surpassed USD 130 trillion in 2019, triggered by over 170 billion digital transactions in the region.

    The market growth is attributed to hefty investments made in the fintech space to accelerate the pace of digital innovation. The growing maturity of the regional fintech industry has led to numerous USD 100 million+ funding rounds in 2019. Corporate investors have also played a very strong role in the investments with corporate fintech investments reaching a new annual high of USD 3.4 billion in 2019.

    Several private sector initiatives to optimize banking operations and improve cost-effectiveness through the digital medium amid the economic slump due to COVID-19 are acting as growth catalysts in the digital banking industry.

    In Europe, the corporate banking segment is estimated to witness a growth rate of around 5% from 2020 to 2026, triggered by the increasing need for reduced complexity in banking approaches. Traditional banks have multiple rivals and multiple portals, which are often inconvenient for corporates with multiple banking relationships. Digital banking services reduce the complexity of managing cash and transactions across multiple bank relationships. Digital banking solutions employ a dashboard approach, providing consolidated information and allowing customers to view both historical cash positions & forward projections with data represented in graphical summaries of aggregated positions.

    The non-transaction services segment accounted for over 5% market share in the market in 2019. The digital age is changing the way consumers research, shop, and buy products & services and how they share their experiences after purchase. Digital banking services are leveraging the technology to understand customer pain points and provide a responsive, empathetic, accessible, & connected experience to their customers.

    Leading players in the Europe digital banking landscape are acquiring fintech start-ups to develop their omnichannel digital banking products to serve customers and reduce the churn rate. For instance, in June 2020, Square acquired European peer-to-peer payments startup, Verse. The acquisition of Verse is expected to expand Square’s presence in Europe as Verse’s team will join the Cash App division of Square.

    Some of the key vendors in the market include Appway AG, Bank of New York Mellon Corporation, CREALOGIX AG, ebankIT, Etronika, Fidor Solutions AG, Finastra, Halcom.com, ieDigital, Infosys Limited, Intellect Design Arena Limited, Kony, NETinfo Plc, NF Innova, Oracle Corporation, SAB, SAP SE, Sopra Steria, Tata Consultancy Services Limited, Technisys S.A., Temenos AG, and Worldline.

    The Europe digital banking market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2020 to 2026 for the following segments:

    Market Share, By Type

    • Retail banking
    • Corporate banking
    • Investment banking

    Market Size, By Service

    • Transactional Services
      • Cash deposits and withdrawals
      • Fund transfers
      • Auto-debit/Auto-credit services
      • Loans
    • Non-transactional Services
      • Information security
      • Risk management
      • Financial planning
      • Stock advisory

    The above information has been provided for the following countries:

    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Netherlands
      • Russia